MKG logo
Login

Entry 4a: Installment Invoicing via Balance/Suspense Account (Sales)

Example entry 'Installment Invoicing via Balance/Suspense Account' in the 'Sales (Installment Invoicing)' journal after executing the actions 'Installment Invoicing', 'Closing Installment without Known Cost Price', 'Cost Price Entry' and 'Closing Installment with Known Cost Price'. Transaction type 04 Sales Installment Invoice.

 

 

 

Sales: Installment Invoicing via Balance/Suspense Account
   
 Transaction type: 04 Sales Installment Invoice
 Action: Installment Invoicing
 Journal: Sales (Installment Invoicing) (22)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 Customer A Ltd 1300 (Debtors) € 121,000.00 Debit 01 Invoice Debtor Group
2 Customer A Ltd 1810 (VAT payable) € 21,000.00 Credit 03 VAT 1 VAT
3 30191029/0 (Customer A Ltd) 1365 (Pre-invoiced installments) € 100,000.00 Credit 02 Revenue AS: Sales Order » Invoicing
   
   
 Transaction type: 04 Sales Installment Invoice
 Action: Closing Installment Invoice without Known Cost Price
 Journal: Sales (Installment Invoicing) (22)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 0000123468/0 (Customer A Ltd) 1365 (Pre-invoiced installments) € 100,000.00 Debit 02 Revenue AS: Sales Order » Invoicing
2 0000123468/1 (Customer A Ltd) 1360 (Pre-invoiced amounts WIP) € 100,000.00 Credit 82 Balance Sales Group
   
   
 Transaction type: 04 Sales Installment Invoice
 Action: Cost Price Entry
 Journal: Sales (Installment Invoicing) (22)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 0000123468/1 (Customer A Ltd) 1360 (Pre-invoiced amounts WIP) € 100,000.00 Debit 82 Balance Sales Group
2 0000123468/1 (Customer A Ltd) 8000 (Revenue) € 100,000.00 Credit 02 Revenue Sales Group
   
   
 Transaction type: 04 Sales Installment Invoice
 Action: Closing Installment Invoice with Known Cost Price
 Journal: Sales (Installment Invoicing) (22)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 0000123468/0 (Customer A Ltd) 1365 (Pre-invoiced installments) € 100,000.00 Debit 02 Revenue AS: Sales Order » Invoicing
2 0000123468/1 (Customer A Ltd) 8000 (Revenue) € 100,000.00 Credit 82 Balance Sales Group

 

 

Explanation

  • Transaction type = the journal entry resulting from the action has this transaction type.
  • Action = the action executed by the user.
  • Journal = the journal that is addressed.

 

Knowledge Center
Financial Entries Overview
How to Set Up Sales Groups
How to Set Up Debtor Groups
Administration Settings for Financial Entries

 

 

vatgeneral ledger accountjournalfinancial transactioncost priceinvoicedebit/creditrevenuebalance sheetsuspense accountdebtor groupsales groupinstallment invoicingtransaction typejournal entrytransaction subtypetransaction type 04 sales installment invoicetransaction subtype 02 revenuetransaction subtype 82 balancetransaction subtype 01 invoicetransaction subtype 03 vat 1