The Finance menu provides you with all accounting entries, which do not have to be linked directly with a customer or a supplier. For example, here we can create an opening entry when coming from another accounting system, as well as our payroll entries or entries relating to insurance, bank charges, depreciation, nominal code adjustments etc.
This short video takes you through the process:-
How to create new journal entries?
To create a new entry, go to Finance > Finance vouchers > New entry.
Define the number series to apply (you can create additional number series under settings), the booking date and the rest of the information. Each line corresponds to an accounting entry.
Once you enter all the necessary information and check that the difference is 0, click on Save. Now you created a new entry.
Examples of various journal entries
Example of payroll record:
Example of bank charges
Introduction of Journals with gross or net amount
It’s now possible when you’re creating expenses or journals in Reviso to enter the amount information you have as the gross amount of the expenditure, ie the total amount paid in which the VAT is already included, without having to enter a breakdown of it.
Contrary to this, you may have the breakdown of the different amounts, so you may see the net (amount before VAT) followed by the VAT and the gross, amount of net added to the VAT amount.
In either case, there is a very easy way to enter the data in Reviso. Depending on the information you have, Reviso makes it easy to input the data into the system. We’ll explain how below.
Journals using gross amounts (VAT included)
If you have a receipt in which the exact breakdown of the taxable base does not appear but a VAT registration does appear on the receipt, you will now be able to easily enter that receipt/journal using the option of ‘Gross VAT Amount‘. Follow these steps:
Go to the Finance tab > new journal.
Mark the option you will see at the top called ‘ Gross VAT Amount ‘.
Now, enter the ticket data, registering in the income or expense account the total amount of the ticket (VAT included).
The journal will be automatically completed by calculating the corresponding VAT.
Journals using net amounts (VAT not included)
If you have a receipt showing the well-defined breakdown of the taxable base and the VAT, separated with its percentage, you will have no problem to clearly identify each of the parties.
Go to the Finance tab > new journal. Do not tick the option you will see at the top called ‘ Gross VAT Amount ‘. The default is usually unticked. Now, enter the ticket data, registering in the income or expense account the amount of the taxable base (VAT not included). The journal will be automatically completed by calculating the corresponding VAT.
