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Enter a purchase invoice

You make an entry for the entire invoice amount in a purchase journal in one contra account (for example, a cost account or a stock account).

Contents

Enter a purchase invoice

You enter the gross invoice amount (incl. VAT), the net amount (excl. VAT) and the VAT code. The VAT code contains the VAT percentage with which Profit calculates the VAT. Via the VAT code the amount is automatically included in the VAT declaration.

When you have completed the first entry line, Profit immediately calculates the VAT amount. If the net line amount plus the VAT amount equals the gross invoice amount, you have entered all the data. Profit then immediately adds an entry line for the VAT and you can complete the entry. If you have entered another amount, you cannot complete the entry and you must itemise the cost amount.

For a purchase, you use an invoice number and a voucher number:

  • Voucher number

    The original invoice number specified on the purchase invoice by the supplier. Profit saves this original invoice number as the payment reference in the payment file when paying creditors automatically. The number can and is allowed to occur several times. Thus the possibility exists that, at the start of the year, you receive (for example) invoice number 2015003 a number of times.

  • Invoice number

    Your own sequence number for incoming invoices. This is a unique number that can appear only once in your administration. Profit can determine this number automatically based on the invoice counter (linked to the journal). You can change the generated invoice number if desired.

To enter a purchase invoice:

  1. Go to: Financial / Enter / Journal.
  2. Check Financial year and Period. These are the financial year and the period to which you post the entry.
  3. Select the purchase journal.
  4. Click on: Finish.

    You now see the entry layout for the journal.

  5. For Date entry, always use the date (within the selected period) to which the entry refers.

    You can change the invoice date via the Voucher date field or using the Invoice date action.

    You can change this date using the Invoice date action, but if the date falls outside the period, Profit displays the following message:  

  6. Enter (part of) the search name of the creditor in Search help or select the creditor in Account.

    If the (partially) entered search name is unique, Profit automatically suggests the creditor. If there are multiple creditors that match the data entered as search name, Profit displays a view in which you can select the creditor.

    If the search name cannot be found in Profit, you can search for the creditor yourself in the Account column. Note: In the purchase journal, this field also reacts to the entered bank account number of the creditor.

    If the creditor has not yet been recorded, you can add it directly using the New purchase contact action. This is not possible if the Account field already contains a value.

  7. Enter the original invoice number of the purchase invoice in Voucher number (also called Factnr. Crediteur).

    Profit takes this number as the description in the payment order when paying the invoice.

  8. Only enter the payment reference of the purchase invoice in Payment reference if this field is in the entry line, it does not contain any letters and you want Profit to include it as the payment reference for the payment in the payment order. In Belgium, this is the so-called structured notification.

    There is a check on the Payment reference field in the entry line. In the Netherlands, the payment reference cannot exceed 16 positions. In Belgium, the value has to satisfy the so-called modulo 97 check. If the payment reference does not satisfy the Dutch/Belgian check, you can record this in Voucher number. For example, a value such as ''2A0323" is not included as the payment reference in the XML of the SEPA payment order because it is not a valid payment reference.

    If you use the invoice number, it is not necessary to specify a separate payment reference.

    In the Invoice number column, your internal invoice number is suggested automatically. Internal invoice numbers are unique and are used for both debtors and creditors. If an internal number does not appear, the counter for the internal invoice numbers is not present or not linked to the Purchase journal.

  9. Enter the total invoice amount (incl. VAT) in Amount credit. If you want to enter a credit invoice then you can enter the credit amount in the 'Debit amount' column.
  10. The due date determined by Profit has already been entered on the entry line but you can modify it.

    If you change the invoice date using the Invoice date action, Profit automatically redetermines the due date.

  11. Press: Enter or Tab.

    Profit adds the cost line.

  12. If the creditor has a fixed contra account, Profit copies it to the entry line. Otherwise, you select the contra account yourself.
  13. The net invoice amount appears automatically in the entry line. The VAT code for the contra account is filled.

    If you cannot post a VAT entry to the cost account, the Allow VAT check box is not selected in the account properties.

  14. Press: Enter. if you want to enter the entire amount on the contra account.

    Profit adds an extra entry line for the VAT amount.

  15. Check the data.
  16. Click on: Finish.

    Profit saves the entry. If, while making the entry, a new (empty) entry line has been created, Profit will automatically delete it.

  17. Click on: Yes., if Profit asks if it is allowed to update the entries.
  18. You will be returned to the window with the journals.
  19. Click on: Cancel.
Enter a purchase invoice more quickly with a preferred contra account

The entry process is quicker if you link a Preferred contra account to the creditor. The contra account automatically appears in the cost line after you have entered the creditor's invoice line. For example, if you always buy energy from the creditor, you link an energy account as the Preferred contra account.

Example:

You have received an invoice from for the delivery of gas and electricity. The following data can be found on the invoice:

  • Amount: €100.00
  • VAT: €21.00
  • Total invoice amount: €121.00

    The preferred contra account for creditor is Gas, water en elektra (4250).

    The cost account Gas, water en elektra (4250) has Btw te vorderen (hoog) (5) as the preferred VAT code.

    Input the following data in the purchase journal:

  • Account: you select the creditor ENECO Energie Services B.V .
  • Credit amount: you enter the total invoice amount of €121.00.

    Profit generates the cost line and the VAT line.

After you have entered the contra account, Profit will automatically copy the VAT code from this account to the entry line. If the contra account does not have a fixed VAT code then you must select a VAT code for the entry line yourself. Profit uses this code to calculate the VAT amount and to determine the ledger account on which the VAT amount must be entered. Linking a preferred VAT code to the ledger account also helps to speed up the process.

To enter a purchase invoice more quickly with a preferred contra account:

  1. In the Search help field, enter (part of) the search name of the creditor or select the creditor in Account.
  2. Enter the original invoice number of the purchase invoice in Factnr. Crediteur (also called Bkst.nr.).

    In the Invoice number column, Profit automatically suggests your internal invoice number.

  3. Enter the total invoice amount in Amount credit.
  4. Press: Enter.

    Profit adds the cost line.

    Since the creditor has a fixed contra account, Profit automatically enters this account number on the entry line.

  5. The net invoice amount appears automatically in the entry line. The VAT code for the contra account is filled.
  6. Press: Enter. You enter the entire amount on the contra account.

    Profit adds an extra entry line for the VAT amount. Press Enter several times until the entry line is completed and the cursor is positioned on a new line.

  7. Click on: Finish.
Also see

Directly to

  1. Purchase entries
  2. Creditor (purchase contact)
  3. Configure VAT
  4. Configure a ledger
  5. Configure journals
  6. Enter a purchase entry
  7. Enter a purchase entry with multiple cost types and VAT rates
  8. Enter a purchase invoice with credit restriction and payment discount
  9. Carry forward purchase invoices and cost entries from Profit Financial to Profit Projects
  10. Enter traffic fines in Profit Financial using an employee wage entry in Profit Payroll
  11. Enter invoices in circulation
  12. Enter a credit note
  13. Block and release purchase invoices
  14. Review purchase invoices in InSite/OutSite
  15. Import an e-invoice and enter it as a purchase invoice

Process

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