Nominal Ledger Transactions from Invoices
When you
approve and save an Invoice, a Nominal Ledger Transaction will be generated automatically if you have so determined in the
Sub Systems setting in the Nominal Ledger. An example is illustrated below:
For each row in an Invoice, the Sales Account will be chosen as follows:
- The Sales Account will be taken from the relevant Item record (in the Item register). If this is blank:
- It will be taken from the Item Group to which the Item belongs. If this is blank, or if the Item does not belong to an Item Group:
- The Sales Account in the Account Usage S/L setting will be used.
For each row in an Invoice, the VAT Account will be taken from the specified VAT Code. This will be chosen as follows:
- The Sales VAT Code in the record for the Customer in the Contact register will be used. If you have not specified a Sales VAT Code for the Customer in question:
- The VAT Code will be taken from the relevant Item record in the Item register. If this is blank, or if no Item Number has been entered to the Invoice row:
- It will be taken from the Item Group to which the Item belongs. If this is blank, or if the Item does not belong to an Item Group:
- The VAT Code in the Account Usage S/L setting will be used.
The Debtor Account will be chosen as follows:
- The Debtor Account in the Customer Category to which the Customer belongs will be used. If you have not specified a Debtor Account in the relevant Category record, or the Customer does not belong to a Category:
- The Debtor Account will be taken from the Account Usage S/L setting.
If the Invoice is a Cash Note, the Cash Account in the relevant Payment Term record or in the
Account Usage S/L setting will be used in place of the Debtor Account.
Once the Transaction has been generated, you can look at it straight away using the 'Open NL Transaction' function on the Operations drop-down menu.
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