Sap Business One Accounting Journals: Purchases & Sales

Debit and credit entries for purchases & sales inventory movements, and payments to accounts receivables and payables

Ratings 3.90 / 5.00

Sap Business One Accounting Journals: Purchases & Sales

What You Will Learn!

Accounting journals with active and passive accounts in debits and credits for Purchases, Inventory exits and entries, Invoicing and Bank payments
Purchases, Sales, Inventory and Banking modules using SAP Business One live environment
Reversal transactions of invoicing, payments and goods returned and accounting journals of the credit memos.
Display the gross revenue of every item in each Sale using the Invoicing module

Description

The course is divided into two parts:

1) Accounting principles to understand how SAP Business One operates the debit and credit entries in the journals for Purchases, Inventory movements, Sales, Payments, and reversal of operations with credit notes.

2) Video tutorials explaining purchases and sales orders to invoicing providers and clients and delivering products inside and outside the warehouse. Issue and receive payments of accounts payables and receivables with Banking Incoming and Outcoming options. Open Invoices to reverse operations with credit notes. Display the map of the relationship of every document issued by SAP Business One.

In the accounting journals explanations, we will use excel sheets to see each of the five entries of debits and credits for purchases, invoicing, and inventory movements. Also the journal entries for payments and reversals of the operations.

We will see a live SAP Business One system to do all the operations described before.

SAP Business One allows consulting the gross revenue of every sales invoice in real-time. The gross revenue is the subtraction of sales prices minus the cost of purchase. Business One keeps this information in the inventory valorization records. It does the changes in the cost of every item if the value paid after a purchase changes. The revalorization will depend on the method used: First In First Out (FIFO), Last In First Out (LIfo) or average.