INSTRUCTION MANUAL
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PAYMENTS JOURNALS
PAYMENTS JOURNALS
PURCHASE JOURNAL
This Journal determines VAT Inputs from Purchases. Cash Purchases column here were LINKED to the Cash Purchases in the Payments Journal where you will Record Entries of Cash Purchases. Accounts Payable (Credit Purchases/L301) column was LINKED to the Payables Journal (Total Amount summation of Creditors’ Account where you will Record Entries of Credit Purchases or Services in AR L301.
Note: As a shortcut, NO INPUT is needed or required in this Journal to avoid possible human errors. Only the Dates, Creditors/Purchased from and Invoice Nos. (A1 to A300 are sample only to show number of entries) are the inputs needed as reference. This Journal MUST be OPENED regularly to be automatically UPDATED.
Note: As a shortcut, NO INPUT is needed or required in this Journal to avoid possible human errors. Only the Dates, Creditors/Purchased from and Invoice Nos. (A1 to A300 are sample only to show number of entries) are the inputs needed as reference. This Journal MUST be OPENED regularly to be automatically UPDATED.
PAYMENTS JOURNAL
This is the Journal where you encode records of Purchases and Payments. Accounts Payables (L301) column here are Payments for the Accounts Payable (Credit Purchases) and was LINKED to the Payables Journal of Credit Purchases Records-Payment of Accounts, so NO ENTRIES in this column are needed. Cash Expenses column are also LINKED to the Payment- Expenses Journal total summation of Payments and Expenses, so NO ENTRIES in this column are needed. Only the payments for the Cash Purchases, the Purchase Discount, the Dates, Paid to and Check Number (A1 to A300 are sample only to show number of entries).are the ONLY columns where record entries are needed.
PAYMENTS-OTHERS
This is the Journal where you encode record entries of Payments on their specific accounts for Assets and Liabilities i.e. Petty Cash, Temporary Investments, VAT Input, Building Improvements and Interest Payables, to name a few. Total amount summation here are being forwarded (LINKED) to Cash Others column of the Cash Payments and Checks Journal.
PAYMENT-EXPENSES JOURNAL
This is the Journal where you encode records of Payments and Expenses in their respective accounts where mostly are Operation Expenses i.e. Gas & Oil, Rent, Sal. & Wages, SSS Premium, to name a few. At the right end portion of this Journal are the Employee’s salary deductions on their SSS, Phil Health, Tax Withheld and Cash Advances. Total amount summations here are being forwarded (LINKED) to the Cash Expenses column of the Cash Payments and Checks Journal.