Hi All, can any one help me…? 1. what is the Diff. Between Payment and Purchase Journal. 2. Under what circumstances we will be using Purchase Journal…? 3. How to handle payments in Multiple currency - Invoice in different currency, Payment diff. currency and Bank is diff. currency. How to achieve this, what are setup requires.
(in a hurry) 1. There is no difference btw those two journal-types; in both cases you are working in table “Gen. Journal Line”. But in the Payment Journal-form you can select Payments/“Suggest Vendor Payments”, you can’t do that in the other one. 2. When you are posting invoices not concerning items (stock) e.g., you use the Purchase Journal.
Hi A purchase journal is a type of general journal, so you can use it to post transactions to G/L, bank, customer, vendor and fixed assets accounts. A payment journal is a type of general journal, so you can use it to post transactions to G/L, bank, customer, vendor and fixed assets accounts. So in answer to 1. not a lot - then again significantly they are VERY different. As Navision is granualr you do not have to buy certain areas, and these journals may then be used. The payment journal can also be used to suggest payments and process cheques, wheras the purchase journal cannot do this. The source codes assigned can also differ to allow tracking and filtering in the GL. In answer to 2 - when you want to depending upon the other modules you have purchased. With regards to three is this the sales side - or are you paying a supplier with a USD invoice, in GBP from a EUR bank account? I think ultimately you cannot pay one currency out of a bank account flagged as another currency, unless it is your home currency (I think cannot quite remember this processing), and you can receive payment in any currency into your bank for any invoiced currency - I think the one restriciton is paying one foreign currency out of another foreign currency bank account - you will have to try your own scenario to find out. Have fun [:)] Hi Anfinnur - it took me a while to write this - you had not replyed when I started - did not mean to repeat what you said!
In 3.7, you can apply between currencies if you have Appl. between currencies set to All in the Purchases and Payables setup. To do this in the payment journal, you’d have to remove the bank payment type. So, if you were attempting to print a cheque, this won’t work, but it will get the job done in a quick and dirty way.