System Default Journal Posting
EMP system has fixed default Journal Posting for several basic transactions, which directs to the Financial Statement. It is advised that user understand this System Default Journal Posting and integrate into the company's workflow process.
https://docs.google.com/spreadsheets/d/1IJUddvRiBaTrTkGoZvpjQDuRo6o6TVPyvy5dbGg4whI/edit#gid=0
Note: * refer to gl code configure on individual server
| GRN / SINV | |||||
| Debit | inventory | 1,000 | |||
| Debit | gst_Input Tax | * | TX | 60 | |
| Credit | accPayable | 1,060 | |||
| PR / CM (Debit Note) | |||||
| Debit | accPayable | 1,060 | |||
| Credit | inventory | 1,000 | |||
| Credit | gst_Input Tax | * | TX | 60 | |
| INV | |||||
| Debit | accReceivable | 1,272 | |||
| Credit | generalSales | 1,200 | |||
| Credit | gst_Output Tax | * | SR | 72 | |
| Debit | inventoryCost | 1,000 | |||
| Credit | inventory | 1,000 | |||
| SR / CM (Credit Note) | |||||
| Debit | generalSales Return | 1,200 | |||
| Debit | gst_Output Tax | * | SR | 72 | |
| Credit | accReceivable | 1,272 | |||
| Debit | inventory | 1,000 | |||
| Credit | inventoryCost | 1,000 | |||
| SINV (for expenses) | |||||
| Debit | rental | 1,000 | |||
| Debit | gst_Input Tax | * | TX | 60 | |
| Credit | otherPayable | 1,060 | |||
| RCT (customer deposit) | |||||
| Debit | gst_Output_suspended | 5.66 | |||
| Credit | gst_Output Tax | * | SR | 5.66 | |
| Debit | CashDraw | 100 | |||
| Credit | accReceivable | 100 | |||
| Reset MA (Decrease amount) | |||||
| Debit | inventoryVariance | 100 | |||
| Credit | inventory | 100 | |||
| Stock Adjustment (Decreate Qty) | |||||
| Debit | inventoryVariance | 100 | |||
| Credit | inventory | 100 | |||
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