Proper encoding of Purchase Transactions will affect your Purchase Book Journal, Cash Disbursement Book and General Ledger reporting. Get to know how to do it for your PLUS orgs.

This article will help you:

  • Understand the Tax Data Flow of Purchase Transactions¬†
  • Add Purchase Transactions and applying Payments

TAX DATA FLOW OF PURCHASE TRANSACTIONS

1. When you record Purchase transactions (Sales Invoice for Goods / Official Receipt for Services) in JuanTax, tax data are pulled to your Purchase Book Journal, Cash Disbursement Book, and General Ledger. 

2A. When Purchase transactions are paid or awaiting payment, it goes to your Purchase Book Journal.

2B. When full or partial payment is applied to your Purchase transactions, it goes to your Cash Disbursement Book.

3. When Purchase transactions are marked as "Posted", it will reflect in your General Ledger.

ADDING PURCHASE TRANSACTIONS AND ADDING PAYMENTS

Adding Purchase 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 Purchase Transactions.

1. Choose a Purchase 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"


Important Information:

  • 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.

What's Next?

  • 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.
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