Journal Purchase/Debit Note Entry HSN wise
YouTube: Journal Debit Note Entry HSN Wise
Introduction
A Journal Debit Note is a crucial accounting instrument used to adjust or reverse certain transactions📉 related to a vendor or customer—such as purchase returns, overbilling, or corrections in previous entries. In Logic ERP, this process is streamlined✅ and tightly integrated with the General Ledger📊 and GST Return Reports🧾, ensuring not only accurate financial reporting but also regulatory compliance.
This step-by-step guide walks you through how to create, save, and track a Journal Debit Note in Logic ERP, including its impact on both ledger reports and GST filings.
Section 1: Accessing the Journal Debit Note Feature
🔐Login to your Logic ERP software.
📂From the Main Menu, navigate to the Accounts module.
🧾Click on A/C Vouchers option to access all types of accounting entries.
➡️From the list, select Journal-Debit Note option.
This section allows you to initiate a journal voucher specifically designed to record debit adjustments against any party or account.
Section 2: Creating a Journal Debit Note
🧍Step 1: Select the Party
Choose the party (vendor or customer) to whom the debit note will be issued.
This could be for reasons such as:
🔄Purchase returns
📈Overcharged invoices
📦Incorrect goods received
⚖️Adjustments due to service-level disputes
🧾Step 2: Enter Bill Details
Input the bill number🧾 that corresponds to the original transaction you are adjusting.
📌This ensures clear reference and traceability during audits🔍 or reconciliations.
💸Step 3: Post the Debit Entry
Under Account Details, perform the following:
📘Select the expense or relevant account that needs to be debited.
💰Enter the amount to be adjusted.
🖊️Provide a clear narration (e.g., “Purchase Return - Invoice #456”) for future reference.
🧮Step 4: Input HSN Code
🔢Select or enter the HSN (Harmonized System of Nomenclature) Code related to the product or service.
🧾This classification is vital for GST calculation and reporting.
📤Once entered, the system auto-calculates the tax values and ensures that they are appropriately reflected in your tax returns.
💾Section 3: Saving the Journal Voucher
✅After verifying all the information, click Save to post the voucher.
🗂️The Journal Debit Note is now recorded and stored in Logic ERP.
🔍Section 4: Tracking and Verification
A. 📘View Entry in the Ledger
Go to the Ledger Report module.
📍Select the relevant party or ledger account to view the posted entry.
📑You’ll see the Journal Debit Note along with the associated amount and narration, reflecting the financial impact📊 of the adjustment.
B. 🧾View Entry in GST Returns
Navigate to the GST Returns section (e.g., GSTR-1).
The transaction will be automatically integrated based on:
🔢The HSN Code used.
💰The taxable amount.
📉Applicable tax rates.
This helps ensure compliance with tax regulations and simplifies return filing📥.
Section 5: Key Advantages
✅Integrated Process
Combines financial adjustments and tax reporting in one flow.
📊Accuracy
Links directly to existing bills and parties to reduce data entry errors.
🛠️Time Efficiency
Eliminates the need for double entry in ledgers and tax modules.
🧠Audit Ready
Every entry is logged with references and narration for easy tracking.
🧾GST Compliance
Automatically updates GST return data, reducing non-compliance risk.
Conclusion
Creating a Journal Debit Note in Logic ERP is a highly streamlined process that ensures both accounting precision and tax compliance. With built-in tools for HSN classification, ledger integration, and GST reporting, it allows finance teams to manage adjustments confidently and efficiently💼📈.
Whether correcting an overcharged invoice or processing a purchase return, Logic ERP ensures that each entry is properly recorded📋, legally compliant⚖️, and easy to track🔍 across all relevant modules.
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