Payment Journals in JobBag

Payment Journals in JobBag

Payment Journals allow you to adjust the Accounts Payable ledger without affecting a bank account. They are typically used for:

• Write-offs
• Short payments to a supplier
• Disputed debts
• Reconciling credit notes to invoices

Important: Any adjustment to an invoice via a payment journal changes the real costs on a job or the Profit and Loss.

Key Points

• Payment Journal Entries:
  • Can be positive, negative, or zero.
  • Must have the Pay field match the Amount field to be valid
• Offset/Zero Journals:
  • Used to allocate a credit balance to invoices or offset a credit note.
  • The net effect does not change the supplier account balance; the journal amount is 0.00.
• Discounts:
  • Discounts cannot be applied in a payment journal. They must be applied as part of a regular payment
• Fields & Functions:
  • All fields and functions are the same as those in the Create Payments window. Refer to the Create Payments guide for details.

Steps to Create a Payment Journal for a write off

1. Navigate to Accounts > Payment Journals.
2. Accept or adjust the Date displayed.
3. Accept or amend the Period displayed.
   • Most journals are applied to the current period by default.
   • You can change it to the current accounting period or a future period.
4. Enter the Supplier Code.
5. Enter a Note explaining the reason for the journal entry.
6. Allocate the journal amount to the invoice(s) in the Pay column.
7. Enter the job number and Kind code
8. Save the payment journal.

Note: This journal will have a cost impact on the Profit and loss or the Balance sheet

Steps to Create a Payment Journal reconcile against a credit note

1. Navigate to Accounts > Payment Journals.
2. Accept or adjust the Date displayed.
   • Journals will start with today's date.
3. Accept or amend the Period displayed.
   • Journals are applied to the current period by default.
   • You can change to a future period.
   • Change to a Past period if the soft rolled
4. Enter the Supplier Code.
5. Enter a Note explaining the reason for the journal entry.
6. Allocate the amount to the invoice(s) and the credit note in the Journal column
7. Save the payment journal.

Note: This Journal should offset and net to zero

Verifying and Managing Payment Journals

• Verify:
  • Navigate to Accounts > Browse Payments.

  • Search for the Payment Journal. It must have a transaction number.

    Edit:

  • Follow the same steps as editing regular payments in Browse Payments.

    Delete/Reverse:

  • Follow the same steps as deleting/reversing payments in Browse Payments.