MKG logo
Login

Entry 7: Invoice Receipt with Approval (Purchase)

Example entry 'Invoice Receipt with Approval' in the 'Purchase (process)' journal after executing the actions 'Enter Invoice (goods)', 'Approve Invoice (goods)', and 'Enter Invoice (outsourcing)'. Transaction type 09 Purchase Invoice.

 

 

 

Purchase: Invoice Receipt with Approval
   
 Transaction type: 09 Purchase Invoice
 Action: Enter Invoice (goods)
 Journal: Purchase (process) (10)
 Note: Approval active
   
Seq.no. Description G/L Account Amount Type DC Transaction Subtype G/L Origin
1 Supplier BV 1900 (Invoices to be approved) € 7,300.80 Debit 86 Goods Creditor Group
2 Supplier BV 1820 (VAT to be received) € 1,533.17 Debit 17 VAT 1 VAT
3 Supplier BV 1600 (Creditors) € 8,833.97 Credit 16 Invoice Creditor Group
   
   
 Transaction type: 09 Purchase Invoice
 Action: Approve Invoice (goods)
 Journal: Purchase (process) (10)
 Note: Approval active
   
Seq.no. Description G/L Account Amount Type DC Transaction Subtype G/L Origin
1 3000x1500x2 Plate 304K320 3000 (Stock Material) € 3,500.00 Debit 25 Material Inventory Group
2 Price variance mat 70190034/3 (PL 1.4301K320 3000X1500X2) 7300 (Purchase Price Variance Material) € 1,080.80 Credit 55 Inventory Material Difference Inventory Group
3 3000x1500x1.5 Plate 304fin2B 3000 (Stock Material) € 3,440.00 Debit 25 Material Inventory Group
4 Price variance mat 70190034/1 (PL 1.4301KGW 3000X1500X1.5) 7300 (Purchase Price Variance Material) € 945.20 Credit 55 Inventory Material Difference Inventory Group
5 3000x1500x2 Plate 304fin2B 3000 (Stock Material) € 3,410.00 Debit 25 Material Inventory Group
6 Price variance mat 70190034/2 (PL 1.4301KGW 3000X1500X2) 7300 (Purchase Price Variance Material) € 1,023.20 Credit 55 Inventory Material Difference Inventory Group
7 Supplier BV 1900 (Invoices to be approved) € 7,300.80 Credit 86 Goods Creditor Group
   
   
 Transaction type: 09 Purchase Invoice
 Action: Enter Invoice (outsourcing)
 Journal: Purchase (process) (10)
 Note: Approval active
   
Seq.no. Description G/L Account Amount Type DC Transaction Subtype G/L Origin
1 ABC B.V. 1900 (Invoices to be approved) € 1,154.00 Debit 86 Goods Creditor Group
2 ABC B.V. 1820 (VAT to be received) € 242.34 Debit 17 VAT 1 VAT
3 ABC B.V. 1600 (Creditors) € 1,396.34 Credit 16 Invoice Creditor Group
   
   
 Transaction type: 09 Purchase Invoice
 Action: Enter Invoice (outsourcing)
 Journal: Purchase (process) (10)
 Note: Approval active
   
Seq.no. Description G/L Account Amount Type DC Transaction Subtype G/L Origin
1 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 105.60 Debit 80 Outsourcing Purchase Group
2 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 129.00 Debit 80 Outsourcing Purchase Group
3 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 342.00 Debit 80 Outsourcing Purchase Group
4 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 236.40 Debit 80 Outsourcing Purchase Group
5 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 212.00 Debit 80 Outsourcing Purchase Group
6 Outsourcing processing 7500 (Purchase Outsourcing (suspense account)) € 129.00 Debit 80 Outsourcing Purchase Group
7 ABC B.V. 1900 (Invoices to be approved) € 1,154.00 Credit 86 Goods Creditor 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 Purchase Groups
How to Set Up Inventory Groups
How to Set Up Creditor Groups
How to Set Up VAT Codes

 

 

vatmaterialgeneral ledger accountoutsourcinginventory groupjournalfinancial transactionapprove invoicedebit/creditenter invoicepurchasecreditor grouppurchase groupinvoice receipttransaction typejournal entrytransaction subtypetransaction subtype 55 inventory material differencetransaction type 09 purchase invoicetransaction subtype 25 materialtransaction subtype 86 goodstransaction subtype 17 vat 1transaction subtype 16 invoicetransaction subtype 80 outsourcing