Purchase Credit & Debit Journals

Posting adjustments to supplier accounts.

Written By Niall Conlon (Draft Writer)

Updated at June 17th, 2022


Purchase Journals are used to post adjustments to Supplier (Vendor) Accounts where no VAT needs to be recorded:

  • Purchase Credit Journals: Increase the amount due to a Supplier (Vendor) by crediting the Supplier Balance and Control Account and debiting the selected General Ledger Account.   
  • Purchase Debit Journals: Decrease the Supplier Balance by debiting the Supplier balance and Control Account and crediting the selected General Ledger Account.

To create a Purchase Journal, go to Purchases > Suppliers. Under Actions, select either Create Purchase Credit Journal or Create Purchase Debit Journal.


Posting Purchase Credit, and Purchase Debit Journals

1. To create a Purchase Credit or Purchase Debit Journal, in the journal screen enter the following:

  • Supplier A/C: Enter the Supplier (Vendor) name or account code.
  • Exch. Rate: If a foreign currency supplier is selected this will default to the latest exchange rate for the Supplier (Vendor) currency. This rate can be updated as required.
  • Journal Date: This defaults to today's date and can be changed as required.
  • External Reference: Enter a journal reference number if using.
  • GL Account: Select a GL Account from the list. If you need to post an adjustment to a bank account, use the new refund screen.
  • Description: Enter a description for the journal.
  • Amount: Enter the journal amount in supplier currency.
  • BI Code: If required, select a BI code.

2. Click Process to post the journal.

Clicking Close will close the screen without posting any transaction.