Step-by-Step Guide to Posting and Allocating Sales, Purchases, Salaries, and Journal Entries
🔹 Creating a Sales Invoice
Navigate to Sales → Invoices.
Click New Invoice.
Fill in invoice details and save.
🔹 Posting the Sales Invoice
Post to Accounts Receivable.
Create VAT postings based on applicable VAT percentages.
Post to appropriate revenue accounts.
🔹 Registering a Payment (Sales)
Post the payment by clearing the amount from Accounts Receivable.
🔹 Creating a Purchase Invoice
Create a new purchase invoice.
Approve and allocate (post) the invoice:
Post to Accounts Payable.
Allocate expense to correct GL accounts.
Include VAT entries if applicable.
For reverse VAT, post the VAT without adding it to the expense total.
🔹 Registering a Payment (Purchase)
Post the payment by clearing the amount from Accounts Payable.
🔹 Creating and Posting a Payroll Run
Create a payroll run.
For each line item, post the following:
GL accounts for payroll item types.
Tax withholding liabilities.
Pension (TyEL) contributions.
Unemployment insurance payments.
Payroll liabilities (net wages).
Social security expenses and liabilities.
🔹 Recording Payroll Payments
Use bank statement data or manual journal entry:
From Bank Account to Payroll Liabilities.
🔹 Creating a General Journal Entry
Go to Accounting → General Journals.
Set the amount and add GL account allocations.
Each allocation will create a corresponding debit/credit entry.