Entering Transactions into the Purchases Journal

• The Purchases Journal screen is used to enter purchases of inventory and other items from established vendors with fewer clicks than the General Journal.
• Only transactions with established vendors can be entered using this journal.  If your vendor is not present, create a new vendor first. Cash purchases should be recorded in the Cash Payments Journal.
• The Purchases Journal typically has one or more special Debit column(s) for those items most frequently purchased, as well as general debit and credit columns for purchase transactions that don't fit the standard accounts, or where multiple accounts are affected.
• The Accounts Payable Credit column is filled in automatically with the balance required to make debits equal to credits, and so this amount does not need to be entered.
• Roll your mouse over the graphic below and follow the numbered instructions to see how to enter new Purchases Journal transactions. The first example below shows a standard transaction, while the second example shows a non-standard transaction, involving multiple debits or credits.
• Note that you can either click on any of the buttons or use the "hotkey" by pressing the CTRL key with the underlined letter on the desired button.

Standard Transaction:

1. Click the Add New Entry button or key CTRL-Y.
2. Enter the Date of the tranasction. A pop-up calendar will also display next to the date to aid you in selecting the date.
3. Press Tab to enter a brief Reference for the transaction.
4. Press Tab to enter the amount of the transaction into the appropriate special Debit column.
5. Enter a Vendor name using the drop-down box.   
6. Note that the Accounts Payable Credit column should be automatically updated with the balancing credit amount.
7. Now you can click the Post button or key CTRL-O to post the transaction to the General Ledger.

• To correct an error in your journal entry - Simply click on the field in error and change it, or click on Delete to remove the entry and start over again.
• Click the Post button again to record your corrected entry.

Non-standard Transaction:

1. After creating a new entry as in steps #1 through #3 above, click the Insert Debit/Credit button or key CTRL-I.
2. Enter the Account Number of the account to be debited (the usual case) or credited (a more rare exception). A pop-up chart of accounts will be displayed next to the account number, which you can use to select the desired account.
3. Press Tab to enter the amount of the transaction into the general Debit (usually) or Credit (more rarely) column.
4. Enter a Vendor name using the drop-down box.   
5. Note that the  Accounts Payable Credit column should be automatically updated with the balancing credit amount. Click the Insert Debit/Credit button again to enter as many additional debits or credits as required for the entry.
6. When done, you can click the Post button to post the transaction to the General Ledger.

• To correct an error in your journal entry - Simply click on the field in error and change it, or click on Delete to remove the entry and start over again.
• Click the Post button again to record your corrected entry.