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Entry 2: Revenue via balance/suspense account (Sales)

Example entry 'Revenue with suspense account' in the 'Sales (process)' journal after executing the 'Invoicing' and 'Cost Price Posting' actions. Transaction type 02 Sales invoice.

 

 

 

Sales: Revenue via balance/suspense account
   
 Transaction type: 02 Sales Invoice
 Action: Invoicing
 Journal: Sales (process) (20)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount Type DC Transaction subtype G/L Origin
1 Customer A BV 1300 (Debtors) € 121.00 Debit 01 Invoice Debtor Group
2 Customer A BV 1810 (VAT payable) € 21.00 Credit 03 VAT 1 VAT
3 30181797/1 (Customer A BV) 1360 (Pre-invoiced amounts WIP) € 90.00 Credit 82 Balance Sales Group
4 Freight costs 8200 (Revenue additional costs) € 10.00 Credit 09 Additional costs Additional costs
   
   
 Transaction type: 02 Sales Invoice
 Action: Cost Price Posting
 Journal: Sales (process) (20)
 Note: With suspense account
   
Seq.no. Description G/L Account Amount Type DC Transaction subtype G/L Origin
1 30181797/1 (Customer A BV) 1360 (Pre-invoiced amounts WIP) € 90.00 Debit 82 Balance Sales Group
2 30181797/1 (Customer A BV) 8000 (Revenue) € 90.00 Credit 02 Revenue 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
How to Set Up VAT Codes
How to Use Additional Costs

 

 

vatgeneral ledger accountdebtoradditional costsjournalfinancial transactioninvoicedebit/creditrevenuebalance sheetcost price entrysuspense accountdebtor groupsales grouptransaction typejournal entrytransaction subtypetransaction type 02 sales invoicetransaction subtype 02 revenuetransaction subtype 82 balancetransaction subtype 01 invoicetransaction subtype 09 additional coststransaction subtype 03 vat 1