The effect of entering a purchase invoice on the purchase ledger is as follows:
the outstanding balance on the account is increased by the total including tax (if not paid)
the turnover figures for the account are increased by the total excluding tax
the last transaction dates are updated
the total creditors amount is increased by the total including tax, unless the invoice is also marked as paid, in which case the creditor total remains the same
an invoice transaction is written to the transaction file, followed by an analysis line for each invoice line
a payment transaction is written to the file if the invoice is marked as paid
If the invoice also updates stock control, then these are updated as follows:
the physical stock level is increased
the last transaction date is updated
the relevant stock transactions are written (one per line item)
Article ID: 926
Created On: Tue, Jun 26, 2012 at 3:24 PM
Last Updated On: Mon, Jun 12, 2023 at 7:49 PM
Online URL: https://kb.datafile.co.uk/article/purchase-invoices-file-updating-and-ledger-controls-926.html