YouTube: Journal Entries, Cash/Bank Vouchers
In this tutorial, we will learn how Journal Entries and Account Entries are recorded in Logic ERP.
Navigate to the Main Menu
Expand the Accounts Module
Click on Account Vouchers
Here, you will find multiple options to record different types of entries such as:
Journal Entries
Cash Payments
Bank Payments
Cash Receipts
Bank Receipts
Select the Journal Entry option
Let’s take an example and record a Journal Entry for Purchase.
Enter the required details:
Account Name
Amount
Other relevant fields
Narration (optional but recommended)
Automatic Tax Handling
When you select a Purchase Account
A Tax Selection Window will appear
Choose the appropriate Tax Type
The system will automatically calculate and apply taxes based on configuration
Configuring Tax Settings for Purchase Journal
To set up this configuration, go to the Accounts Module.
Open Configurations.
Select Journal Voucher Configuration.
From the dropdown list, choose Purchase Journal.
Here, you will see an option: "Pick Auto Tax A/c Auto from Tax Master".
From the dropdown, select "Pick Tax Master for Multiple Records".
Bank Payment:
Select Bank Payment Voucher
Choose the Bank Account
Enter:
Narration
Other Required Details
Adjust Payments Against Bills
While entering Payment/Receipt:
A list of Pending Bills will be displayed
Select the Relevant bill to Adjust the Payment.
Finally, click on Save to record the voucher.
Record Bank Receipts (Cheque Payments)
Similarly, if a customer makes a payment via cheque,
You can record the transaction under Bank Receipts.
Navigate to Reports/Queries
Open Ledger Report
Select the required Account
Generate the report
You will be able to see:
All journal and account entries
Their financial impact
Proper debit/credit reflection
Logic ERP makes it easy to:
Record journal and financial transactions
Automatically apply tax calculations
Adjust payments against pending bills
Track all entries through detailed ledger reports
Last updated 4 months ago
