How to update manual entries

One of the components in the period closure is updating all manual entries. These are all entries that do not originate from the purchase and sales process.

Step 1: Record manual invoices

A manual purchase invoice is only recorded if no purchase order is present. This pertains to orders such as office supplies and all periodic manual purchase invoices, such as insurance and energy bills, phone and internet invoices, and other subscriptions. The purchase invoices can optionally be attributed to a production order.

A manual sales invoice is used sparingly, for example, for renting out assets, selling a machine or depreciated assets, or recharging rent. Create any manual sales invoices and record the invoices before the period is closed.

Step 2: Update payment transactions

All bank statements and cash transactions must be entered into MKG. This may involve clearing outstanding items and recording automatic and cash payments. Recorded purchase and created sales invoices, both process-based and manual, lead to outstanding items. Update these items in the bank and/or cash entries.

Step 3: Record other periodic entries

Record other periodic entries, such as accrued assets and liabilities. Also, record the payroll journal entry to make the wage costs of the relevant period transparent in the result.