General ledger Postings for Sales and Procurement Documents

BlueBox2.0 uses document maps to dictate GL movements from the document layer. This means that you can specify which entries get posted whenever specific documents are created, and using advanced condition statements you can be very precise about these postings.

Once your document maps are set up your system will populate the GL automatically providing you with a live Trial Balance, Balance Sheet and Income Statement.

The GL allocations for a stock-based business that uses GRN's to receive stock and Despatch Notes to ship stock have a specific layout that is worth noting:

• GRN
• DR Stock GL Account
  Note: for non-stock items being received be sure to set the 'GRN asset acct' to a special asset account (ie something like Non-stock Assets Received)
• CR GRN Suspense Account
  Note: this Liabilities account should not be changed via item-data settings
• Creditors Invoice
• DR GRN Suspense GL Account
  Note: This 'expense' account must not be changed via item-data settings if the item was GRN'd in originally. For CR Invoices that are captured directly without a previous GRN this expense account can be set to anything.
• CR Accounts Payable
• DR Input Tax Account
• Despatch
• DR Cost of Sales
  Note: The 'DSP expense account' can be overridden at item-data level as required
• CR Stock
  Note: be sure to set the 'DSP asset account' on non-stock items to the same asset account used in the GRN above
• Debtors Invoice
• CR Sales Revenue
  Note: this income Account can be overridden at item-data level as required
• DR Accounts Receivable
• CR Output Tax Account