10/8/22
As a temporary method of calculating DEBTORS and CREDITORS figures as per a specific date, please follow these instructions.
To amend the accrual report you will need to enter the following entries on an exported version of the report:
Entry 1: The Accrual entry for DEBTORS is:
Debtors Journals
A E = L P R
SALES - Debtors (A-TM-SLS) $10,000
GST Liability Accrued (A-GSTR) $1,500
Current Debtors (A-DBTS) $11,500
Entry 2: The Accrual entry for CREDITORS is:
Creditor Journals
A E = L P R
PURCHASES - Creditors (A-PUR) $5,000
GST Asset Accrued (A-GSTP) $750
Current Creditors (A-CRDTS) $5,750
Calculation Method
This is not a perfect method and can only be used for in-house reporting.
There are two reports we need to generate:
DEBTORS
1. Go to Debtors
2. Customer Accounts
3. At any customer, select 'Report', 'All Transactions'
4. Setup the dialog as follows:
For the date range, enter the last day of the month you want to know the debtors for, in both From and To boxes, and select 'Accept'.
Debtor Result
The balance at the end of the report is the debtors as at the date specified.
This will include GST.
To get the GST value, divide the figure by 7.666666
To get the non-GST value, subtract the GST value from the Balance
CREDITORS
This method is assuming that you have run the EOM Creditors Process which takes a snapshot of your creditors when you perform the task. (See 'End of Month' button)
1. Go to Creditors
2. Select 'Work with Creditors"
3. Select the menu 'Reports' > 'Summary of Current Accounts by Code'
4. In the dialog, select the month and Accept
5. At the bottom of the report are the pre and inclusive GST values
SoEasy Generation III
When the GIII version is fully released, these manual entries will no longer be required.
Target September 2022.