Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Expenses Journal preparation options.
Before we begin, let us understand about the need of Expenses Journal Entry and the relevance of this particular activity.
Sometimes you take some services from service providers and you need to account for bills raised by them in your books of accounts. You can enter such bills through this module instead of adjusting them through a regular purchase bill or adjustment journal. This bill is just like a purchase bill with a difference that here you need not to enter the item details. You can take input credit of your indirect taxes paid on these services.
You can create an Expenses Journal under Finance Module of AlignBooks.
The key functions of Expenses Journal Module are:
Creation of a New Expenses Journal,
Modification of an existing Expenses Journal;
Deletion of an existing Expenses Journal.
Configuration:
AlignBooks provide you the facility to configure your Expenses Journal documents with respect to choice of maintaining multiple series of documents, choice of sending Email and SMS on creation/edit/approval of the document and for Approval System setting etc.
Click on “Configuration” to configure this document. Click here “How to Configure a Document”, to know more about this utility.
Let’s now understand how to create a New Expenses Journal in simple steps
You have three ways to prepare an Expenses Journal;
Enter fresh data for the first time;
Open an existing document and use the “Copy” feature of AlignBooks to make the necessary changes. This will save your time and efforts;
If you have data in an Excel Format, Import data and make the required changes.
Let’s enter the fresh set of data for the first time;
Location: If you are handling multi locations, select the required location from the dropdown menu. This field is available only if you have configured “Multi location “ON” in configuration ->Company Setup->General Setup”.If your desired Location does not exist in the menu, you can create a New Location by clicking on option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited/deleted and then click on . The Location will be opened in Edit mode and you can edit it and save by click on . You can delete it by click on .
Category: If you are classifying your document in different categories,select the applicable category from the drop down menu. This field is available only if you have configured “Document Classification - ON” in Configuration ->Company Setup->Finance->Basic.You can Add, Edit or Delete a Category by following the process described under Location Tab.
Vendor : Select a Vendor from the drop down menu for whom you are preparing the Bill. You can Add, Edit or Delete a Vendor by following the process described under Location Tab
Item: If you want to claim Input credit for this Bill, select a Item from the dropdown. If youleave this field blank, this bill will not be available for Tax input and any Tax charged in this bill shall be booked in respective ledger to be selected by you.
Voucher Date: Enter the date which you wish to reflect in the document. By default, the system will take the current date. You can also pick a different date by just clicking on the calendar function.
Prefix : While configuring your document, if you have opted to “maintain manual prefix”, select a prefix from the drop down list. If the required prefix does not exist in the list, you are able to create a new one by clicking on Icon or option within the dropdown menu and input a name.
Number : While configuring your document, if you have opted to “maintain manual numbering”, enter a document number here.
Ref No. : Here you may enter the vendor’s document reference number or previous Document number, if any. Say if you have received a written estimate from your Vendor, you can give the reference number of that estimate.
Currency : If your Service Bill amount is in a foreign currency, select a Currency from the drop down menu. This field is available only if you have configured “Multi Currency - ON” in Configuration ->Company Setup->General Setup. If your desired currency does not exist in the menu, you can add a new currency by clicking on Icon or option within the dropdown menu.
Conversion Rate : System will automatically get the conversion rate fromcurrency master, if already created by you. If you wish to change the currency conversion rate for this particular document, you can do the same here.
So far we have entered the relevant details to clearly identify the Expenses Journal. We will now enter the specific ledger details to generate a Expenses Journal;
: Click here to add a Row to the table. You can also add a row by clicking on “Add Lines”
: Click here to delete a row from the table.
Ledger : Select a Ledger from the drop down list. Click on to add anew Ledger.
Party : If ledger selected by you is Customer / vendor control ledger, selecta customer/vendor from the drop down menu.
Debit/Credit : Select from drop down Dr. or Cr. i.e. the selected ledger is to bedebited or credited. The counter effect will automatically be given to Cash/Bank ledger selected above.
Amount : Enter the amount to be Debited / Credited. If the payment is received / made in foreign currency , enter the amount in that currency only without converting it in local currency. For example if you have paid $ 41625, you should enter 41625.
Amount : Here is displayed the amount converted into Local currency.System will calculate the Amount in LC automatically i.e. with the Amount in FC x conversion rate.
Remark : If you wish to put any remark against this transaction, enter here.
Bank Ref : Enter the issuing party bank reference, if applicable.
Cheque No. : Enter the cheque No., if applicable
Cheque Date : Enter the cheque Date, if applicable
Beneficiary : Enter the beneficiary name, if applicable.
Attribute : These fields are available only if you have selected to use attributes in General Ledgers (Configuration -> Company Setup->Finance ->Attribute).
Attachment : Here you may upload any supporting documents, which can be used for the future reference. You can browse the location to attach the same. Click on “X” to remove the attachment
TDS Details : This section is available only if you have kept TDS applicable “ON”, in Configuration->Company setup->Finance. Also, if at the time of creating vendor master, if you have kept “TDS applicable – Off” for this vendor, the section will be inactive.
TDS Section : System will trace and auto fill the TDS Section under which TDS is required to be deducted automatically from the Vendor master. You can make changes if you wish to.
TDS Rate : AlignBooks has inbuilt the Rate of TDS prescribed under various sections of the Income Tax Act and based on the Section selected by you, the system will automatically pick the TDS rate prescribed under that section.
: Before clicking this option make sure that the data entered is no more required by you; the moment you click on this option the system will erase all the data and give you an empty screen to enter fresh data.
Click on 
to print the document prepared by you. Click here “Print Utility”, to know more about this utility.
Import : Click on 
to Import Data and select a file from which Data is to be imported. Click here “Import Utility”, to know more about this utility.
Schedule : If you want to create a schedule for this document, click on 
. Click here “Schedule a Document”, to know more about this utility.
Open : Click here to open an existing Expense Journal.Click here “Open a Document”, to know more about this utility.
Copy : Click here to copy the values from an existing Expense Journal. Click here “Copy from a Document”, to know more about this utility.
option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited/deleted and then click on 
. The Location will be opened in Edit mode and you can edit it and save by click on 
. You can delete it by click on 
. 
to save the document prepared by you.
beside Mail and click on Email or SMS.
