DBD: Purchases Journal and Update
After entering accounts payable invoices, they sit in a temporary entry file. Before these transactions can affect vendor balances or the General Ledger, you must review them using the Purchases Journal and execute the Update routine.
This process ensures data accuracy and officially posts the entries to your permanent financial records.
Print Purchases Journal
Accounts Payable > Invoice Processing > Purchases Journal / Update
- Multi-Batch Environments: If there is more than one batch currently open in the system, a selection screen will appear. Double-click the required batch to advance to the primary reporting panel.
- Define your report parameters on the screen.
- Click the Print Report button to generate a PDF preview of your proof listing.
Review the Purchases Journal for Accuracy
Carefully review the generated PDF proof listing for errors before committing the batch. Pay close attention to:
- Vendor Codes: Ensure expenses are routed to the correct vendor profiles.
- Invoice Details: Verify invoice numbers match physical documents and dates fall within the intended period.
- Financial Amounts: Cross-check the gross invoice balances.
- GL Account Distributions: Confirm the general ledger account routing is accurate.
⚠️Correcting Mistakes Before Updating
If you spot an error on the proof listing, do not proceed with the update.
Follow these exact steps to make corrections:
- Exit the Purchases Journal program.
- Return to the Invoice Entry program.
- Recall the entry by inputting the vendor and invoice number.
- Correct or delete the flawed entry as needed, then save and exit.
- Reselect the Purchases Journal program to run a fresh proof listing and verify your fixes.
Executing the Update
Once you have verified that all invoice entries on the journal are completely accurate, you can safely proceed with the system update command.
The update process is automated and simultaneously executes the following critical financial functions:
- Creates Open Invoices: Establishes the official open liability item for each vendor.
- Updates Vendor Balances: Accumulates the transaction amounts into the running master balance for each vendor record.
- Compiles Vendor Statistics: Rolls the data into month-to-date and year-to-date vendor purchasing metrics.
- Posts to General Ledger: Makes the formal accrual postings directly to the General Ledger Detail Transaction File.
- Retains Postings for Reporting: Preserves the underlying G/L distributions for future journal printing or for automated cash-basis adjustments when the invoice is eventually paid.
- Flushes the Temporary File: Completely clears out the temporary Invoice Entry File so it is fresh and ready for your next daily batch.