Each line will generate a "double entry", debit and credit.
Purpose: To permit the recording of expenditure as double entries between a debtors account and a credit account somewhere in the LILAC integrated database.
A direct accounting entry is recorded against a debtor account (in the fifth column 'Account') and a simultaneous offsetting posting elsewhere in the LILAC integrated ledger (the offsetting account is selected by the first four columns, Branch (if necessary), Ledger, Main, Sub (if necessary).
The Debtor Posting document may be used for adjustments, bad debts written off, or WIP, see below.
The presence of the Debtor Receipt document (to record the receipt of funds from a debtor, or prepayments), and secondly the General Ledger Payment document (for rare payments to debtors), may result in the rare use of the Debtor Posting document.
Several lines of debtors postings can be processed in one Batch, ie Period, Prefix, Computer, Day.
To process any changes to the entered data have the caret over the first character of the field and strike the Space bar, and re-Apply.
The following is an example to write off a bad debt to the indirect expense account in the TRADING ledger, BAD DEBT. For example, the below invoice posts a $84.70 debit to the Debtor Account AAAIND to be written off as Bad Debt.
Debtor Posting
Page 2 Debtor Posting
The Day field forms part of the Batch code, and requires a non-blank entry. It must be two characters. Typically the user will enter the day of the month, or the initials of the user.
The dark blue Day field may be searched with a right mouse click or F12 to display previous postings in the accounting Period.
Period + Prefix + Computer + Day form the Batch key. Each posting document is identified by a Batch key. Use Reports > General Ledger > Batch Totals report by Batch. Example 1: Batch DPO 00 25
Each line will generate a "double entry", debit and credit.
Select a General Ledger account to record a direct accounting entry.
The 5th column is the Debtor Account.
These columns describe the source document, typically shown on an invoice.
If a tick is showing in the Taxable column the Value is considered to include GST.
In the case of Bad Debt, a credit is posted to the Debtor account, -84.70
To proceed, click the 'Apply' button. To generate the debits and credits in the accounts.
To make corrections, amend the Value field to the correct value, and re-apply. To remove an entry, edit the Value field to blank / zero, and re-apply. Corrections may be made by applying a blank / zero value, then applying the correct value.
Debtor Posting
Page 3 Debtor Posting
Clicking 'Apply' from the ribbon posts the amount. Values will appear in the Posted column to reflect the debits & credits which have been generated in the accounts entered on a particular line. Multiple "independent" lines may be entered.
Debtor Posting
Page 4 Debtor Posting
The Debtor Statement reflects the bad debt posting, crediting the account.
Debtor Posting
Page 5 Debtor Posting
A second example is provided. Typically TRADING SALES (Revenue) and the debtor ABCTRA postings would be handled by a LILAC Sales Invoice.
Debtor Posting
Page 6 Debtor Posting
This Debtor Statement reflects the postings generated.
Debtor Posting
Page 7 Debtor Posting
Purpose: To permit the recording of expenditure as double entries between a debtors account and a credit account somewhere in the LILAC integrated database. Typically the credit account will be in the TRADING ledger or the WIP ledger. This provides for the recording of expenditure on a accrued basis. i.e. Tax and other liability issues are dated from the posting of the invoice, not from the time of payment.
Prerequisites: The debtor that is to be posted must exist in the LILAC Database (Document > Debtor > Account), as must the TRADING ledger or WIP ledger accounts.
Context: One line of entry in the posting form creates a debit and a credit when the Apply button is clicked.
If a tick is present in the Taxable column 1/11th of the value is posted to the GST SALES account, and 10/11ths to the nominated credit account.
You can process several debtors postings in one batch. To process any changes to the entered data have the caret over the first character of the field and strike the Space bar.
When all details are correct for each posting, click the Apply button.
Period: The Accounting period is displayed here. This is established at Sign In. Prefix: This field is set to be "DPO", to establish it as a Debtor Postings. DPO is used in General Ledger Batch reports. Computer: This field is set to the instance number LILAC. Day: Type a batch identification number, eg: current day (31) or user initials (AJ). Value: The Total amount to be posted.
Branch: Type in Branch. This is used for Multi Company systems where posting between companies is used. Ledger: Type the first letter of the ledger this posting refers to. Strike the Tab Key. This action will display a search window. To select the ledger, (if it is correct) strike the Tab key. (which then moves you across to the next field) Main: Type in the general ledger account number or name that relates to this posting. (can use first letter and Tab as above) Sub: Type in sub-account number or name if applicable. Account: Type in the debtors key (or click the right mouse button) and select the key from the list. Date: Type in the date of transaction. Ref: Type a reference number for this transaction. (eg: invoice, note) Quantity: Type in the quantity if applicable. Taxable: Tick this field to indicate that GST should be calculated at 1/11 of the value posted. Value: Type in the total amount including GST (if applicable) that is to be posted. Posted: This field will automatically be updated when the Posting has been processed. To post the values click on the Apply button. Description: Type in a brief description on the nature of the posting eg: Banners.
Transaction Processing Button Description Apply: Clicking the Apply button will post the entries to the accounts specified.
From Here: After the value has been Applied you are then required to complete a Document > Debtors > Receipt upon payment.
