Note that it is best if you read the Monthly closing article before reading the following ⬇️
What is a Purchase Journal?
Our Purchase journal and Bank Journal can now be used together for reconciliation.
Changes since our last version of the Spendesk Purchase Journal
We added important elements:
- accounts payable now also for card payments (before only on supplier invoices),
- a payable date,
- a payable reference: it's a unique ID representing the payable which can also be found in the Bank Journal for reconciliation purposes.
- We show the split you perform in 'Bookkeep>Prepare' on several expense / VAT accounts.
👉🏻 Good to know:
Bank fees (2.99% conversion fees) that used to be in the Purchase Journal are now included in the Bank Journal since this is a transaction topic.
There is no more "due date" as this date referred to payment and not the actual debt.
Dates in the Spendesk Purchase Journal - payable vs accounting dates
- Card payments: clearing date
- Expense claims: receipt date
- Supplier invoice: issue date
- In 99% of the cases when you have the receipts for all payables, and you export them in the same month, then your Payable date = Accounting date.
- Sometimes it might happen though that your colleague uploads late a certain receipt for a card payment, or you get an old expense claim or old supplier invoice from another accounting period. In this case, you will have the Payable date depending on the payment method (see above) and the Accounting date that is defined by the first day of the current accounting period.
Example for Payable date = Accounting date
If the payable (here an example of a card purchase with payable date = authorization date and the accounting date is the same because export happens in the same month) gets exported in the same Accounting period, then Payable date = Accounting date.
Example for Payable date ≠ Accounting date
If the payable (here example invoice with the payable date = the issue date and the accounting date = the first day of the current period) gets exported in a different Accounting period, then Payable date ≠ Accounting date.
Set up your accounting tab to use the Spendesk Purchase Journal
If you haven't filled your accounting codes yet, head to this page:
The setup of expense accounts, VAT accounts, and accounts payable is mandatory to use the Purchase Journal. In the Prepare tab, accounts payable must be selected if you want to export a line.
1. Bank accounts
Fill in your different general accounting codes: Spendesk bank account, Bank fees account, Spendesk-funding bank account...
👉🏻 Great news for your accountant! Bank fees are now reflected in the bank journal (previously in the purchase journal).
2. Expense accounts
Enter your own expense accounts along with their corresponding codes to replicate your current system.
3. VAT accounts
Set up your own VAT accounts by providing a name (account name) along with a corresponding rate (%) and VAT code.
4. Reverse charge
When reverse-charge applies, the following tax accounts will be charged and credited.
Fill in the Reverse charge name, Debit code, Credit code.
👉🏻 Great news for your accountant! You can now insert multiple reverse-charge accounts in the Accounting settings!
5. Supplier accounts
If you'd like to add specific accounts payable against suppliers, head out to this page: 'Settings > Accounts payable'.
6. Miscellaneous supplier account
This generic account payable will be assigned to all purchases where a specific account payable is not saved.
7. Employee accounts
Enter your own employee accounts along with their corresponding codes to replicate your current system. You can also use a custom default account for employees without an employee account. This custom default account can be enabled/disabled at any time.
Start typing the name of the employee, then assign them an employee account.
8. Bookkeeping date
Choose the start date of your bookkeeping.
All the payables before this date are going to be hidden from the Prepare tab. But these payables will be shown in the tab “Bookkeep>All payables” with the status “Hidden”. This action is not irreversible and you will still be able to edit the date afterwards.