The Update Ledgers Postings

The transactions you post through this routine cause the following actions to be taken by the system:

Sales Invoices

$image\bullet.gif$ A debit posting is made to the Debtors Control (Gross)

$image\bullet.gif$ A credit posting is made to the Nominal Accounts specified (Net)

$image\bullet.gif$ A credit posting is made to the VAT Sales Control (VAT amount)

$image\bullet.gif$ The æIn StockÆ quantity of each product on the invoice is reduced.

Sales Credit Notes

$image\bullet.gif$ A credit posting is made to the Debtors Control (Gross amount)

$image\bullet.gif$ A debit posting is made to the Nominal Accounts specified (Net amount)

$image\bullet.gif$ A Debit posting is made to the VAT Sales Control (VAT amount)

$image\bullet.gif$ The æIn StockÆ quantity of each product on the credit note is increased (Product Credit Notes only).
Instant Accounts Plus users only: If you do not wish to return these items into stock, you will need to post an Adjustment Out for each product concerned.

Payments Against Invoices

$image\bullet.gif$ A debit posting is made to the selected Bank Account (Receipt amount)

$image\bullet.gif$ A credit posting is made to the Debtors Control (Receipt amount)