Record sales and purchases

Record credit activity

Use the Sales Journal for customer invoices and other sales on account. Use the Purchase Journal for supplier bills and purchases on account. Enter the source document date, invoice or reference number, party, terms, and account allocations.

Each journal keeps the operational detail while creating the accounting effect. Review taxes, debits, credits, and the selected customer or supplier before posting.

Settle and review

Record later collections in Cash Receipts and later payments in Cash Disbursements, then allocate them to the open credit activity. This preserves the invoice trail in the customer or supplier ledger.

Draft items do not affect reports. Posted and Final items do. Cancel a mistaken record only when the business event should no longer affect balances; use a correction when the original must remain part of the audit trail.