Preferred bookings significantly speed up the processing of purchase invoices and bank transactions. With preferred bookings, you can set rules in advance so that these rules are automatically applied to invoices or transactions.
Benefits of preferred bookings
Preferred bookings are useful when you often need to enter the same bookings and want to avoid manually retyping them. This allows you to create recurring entries for cash, bank, or journal transactions.
Preferred entry for journals
To create a preferred journal entry, follow the steps below:
Go to Settings in the menu on the left;
Select Preferred entries - Bank transaction and click New;
Select one or more types where you want the preferred booking to be used:
Cash: Use the preferred booking in all journals of type Cash;
Bank: Use the preferred booking in all journals of type Bank;
Supplemental entries: Use the preferred booking in all journals of type Supplemental entries;
Enter the required details:
Code: Assign a code to the preferred booking for easy identification;
Description: Provide a description of what the preferred booking is for;
Entry Description: Provide a standard description for the journal entry;
Base Amount: If you are using a fixed amount, enter the total amount of the booking;
Base Percentage: If you are using a variable amount, activate Base Percentage. The Base Amount field will disappear in this case;
Create the standard purchase rules:
If you chose Base Amount, ensure that the total of the rules equals the entered base amount.
If you chose Base Percentage, ensure that the total of the rules equals 100%.
Click Save to create the preferred journal entry.