How-To:Creditor Invoice

This section of ContactsLaw provides the overview of recording the creditor invoice journals based on the invoices that have been received from someone who provided you a service. This structure ensures that financial records and transactions are organised clearly and efficiently for each business you operate.

The below guide will explain about creating a creditor invoice journal: 1. Getting Started Navigate to the ribbon group and choose General Accounting. Proceed to Journals and click on Create Creditor Invoice Journal.

2. Specify Options In the creditor invoice journal window, there are options that you need to fill up.

Date: Setting the date when you record the creditor invoice. Date can be past, present, or future. There are in some cases there will be backdated transactions or forwarded transactions.

Invoice Number: The details for invoice numbers are provided by the creditor.

Invoice Date: Setting the date when the creditor created the invoice.

Due Date: Setting the date when the deadline of the creditor invoice will be.

Related Document: You can upload the invoice given by the creditor. This may also be the proof that certain transactions for creditors do exist.

DR Account: This option is about what account will be going to credit this invoice.

CR Account: This option will show where the invoice will be directed.

Ledger: This option is about the creditor which means this is adding a contact.

Description: Describe what the creditor invoice is all about.

Amount: State the exact amount of the transaction excluding the tax or its GST.

GST: This is a set of metrics or base items specific to Australia in the preparation of tax records for businesses which is 10% of the total amount. In case the GST amount is different you have the option to edit it.

Add and Remove Line: This is an option to add another item or remove an item.

Review the details and click Process.