MKG logo
Login

Entry 4: Installment Invoicing (Sales)

Example entry 'Installment invoicing without suspense account' in the 'Sales (Installment Invoicing)' journal after executing the actions 'Installment Invoicing' and 'Closing installment with or without known cost price'. Transaction type 04 Sales Installment Invoice.

 

 

 

Sales: Installment Invoicing
   
 Mutation type: 04 Sales Installment Invoice
 Action: Installment Invoicing
 Journal: Sales (Installment Invoicing) (22)
 Note: Without suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 Client A BV 1300 (Debtors) € 121,000.00 Debit 01 Invoice Debtor Group
2 Client A BV 1810 (VAT Payable) € 21,000.00 Credit 03 VAT 1 VAT
3 30191029/0 (Client A BV) 1365 (Pre-invoiced Instalments) € 100,000.00 Credit 02 Revenue AS: Sales Order » Invoice
   
   
 Transaction type: 04 Sales Installment Invoice
 Action: Closing installment with or without known cost price
 Journal: Sales (Installment Invoicing) (22)
 Note: Without suspense account
   
Seq.no. Description G/L Account Amount DC Type Transaction subtype G/L Origin
1 0000123468/0 (Client A BV) 1365 (Pre-invoiced Installments) € 100,000.00 Debit 02 Revenue Sales Group
2 0000123468/1 (Client A BV) 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 being addressed.

 

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

 

 

vatjournalfinancial transactioninvoicedebit/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