Frequently Asked Question

These instructions are to be used to assist the user in understanding how the Invoice Register and GL Summary Edit/Journal generated by the End of Day process are connected.

Included in these samples are three basic transactions: 1 charge sale, 1 cash sale and 1 payment on account.

Invoice Register

Gross Fee/Levy Cost Profit G.P.% Discount GST PST Freight Net Pay

85.70 49.05 36.65 42.77 6.86 6.43 98.99 A

85.70 49.05 36.65 42.77 6.86 6.43 98.99 $

100.00 V

Charged:

85.70 49.05 36.65 42.77 6.86 6.43 98.99

Payments:

85.70 $ 49.05 36.65 42.77 6.86 6.43 98.99

V 100.00

Total Payments:

85.70 49.05 36.65 42.77 6.86 6.43 198.99

Total:

171.40 98.10 73.30 42.77 13.72 12.86 297.98

A = charged to customer account

$ = Cash

V = Visa

Total charge sales as found on the “Charged” line under the Gross column heading $ 85.70

Total cash sales as found on the “Payments” line under the Gross column heading $ 85.70

Total sales as found on the “Total” line under the Gross column heading $171.40

GL Summary Edit List/Journal

Bank 198.99

This figure includes both the cash sale (98.99) plus the Received on Account amounts (100.00)

Accounts Receivable – Trade (1.01)

This figure includes the charge sale (98.99) LESS the Received on Account amount (100.00)

Inventory – Parts (98.10)

This figure is the cost of the parts sold amount and can be found on the Invoice Register on the “Totals” line under the Cost column heading.

GST Payable (13.72)

This figure is the total amount of the GST charged on the day’s transactions and can be found on the Invoice Register on the “Totals” line under the GST column heading.

PST Payable (12.86)

This figure is the total amount of the PST charged on the day’s transactions and can be found on the Invoice Register on the “Totals” line under the SST column heading.

Sales – Parts (228.60)

This figure includes both the cash and charge sale amounts at the customer’s specified level price. For example, if the customer is to receive a 25% discount from price level 2, this amount is the price level 2 amount. If the customer is to be surcharged 10% on price level 3, then this amount is the price level 3 amount.

If you choose to enter a discount on a particular line item that is in addition to the customer’s specific structure, then that discount amount is reflected in the Gross sale price of the part, both on the Invoice Register and on this report.

Line Discounts 57.20

This figure is the variance between the customer’s specified level price and the actual price charged the customer, based on the various discount structures. In our example from above, this is the amount of the 25% discount from price level 2, or the 10% surcharge on price level 3 amounts.

The sum of these two amounts (Sales and Line Discounts) can be found on the Invoice Register on the “Totals” line, under the Gross column heading.

This figure is also affected by any discount amount that is given just prior to completion of the invoice with a change to the footer field for discount %. That figure is shown on the Invoice Register in the “Totals” line, under the Discount column heading.

Purchases – Parts 98.10

This figure is the same as the figure reducing the inventory.