Our platform is transaction sensitive. Every transaction that you input will affect reports that reflect in your Books of Accounts. Let's equip you on how to add Sales transactions properly and how to add payments for your PLUS orgs.
This article will help you:
- Understand the Tax Data Flow of Sales Transactions
- Add Sales Transactions and applying Payments
TAX DATA FLOW OF SALES TRANSACTIONS
1. When you record Sales transactions (Sales Invoice for Goods / Official Receipt for Services) in JuanTax, tax data are pulled to your Sales Book Journal, Cash Receipt Book, and General Ledger.
2A. When Sales transactions are paid or awaiting payment, it goes to your Sales Book Journal.
2B. When full or partial payment is applied to your Sales transactions, it goes to your Cash Receipt Book.
3. When Sales transactions are marked as "Posted", it will reflect in your General Ledger.
ADDING SALES TRANSACTIONS AND ADDING PAYMENTS
Adding Sales transactions is the same for both STANDARD and PLUS org. However, Applying Payment feature is only available to PLUS orgs.
Here's how you Apply Payments to Sales Transactions.
1. Choose a Sales Transaction
2. Under "Select Options" button, choose "Add a Payment"
3A. For full payments, enter the required fields to mark the transaction as "Paid".
3B. For partial payments, choose "I want to make a Partial Payment" and fill the required fields. This will mark your transaction as "Awaiting Payment"
- In recording Sales Invoice transactions, tax type should be "GOODS"
- In recording Official Receipt transactions, tax type should be "SERVICES"
- Applying Payment is important for your transactions to reflect in your Books.
- DRAFT transactions should be marked as POSTED in order for these transactions to reflect in your Books.
- For your transactions to be recorded in your General Ledger, it should be marked as POSTED from your other Books.
- Adding Purchase Transactions and Applying Payments for PLUS orgs
- Learn how to utilize Journal Entries such as amending payments.
- Get to know the best practices in importing and exporting tax data.
- Learn how to utilize Chart of Accounts for precise recording.