Create a Payment Journal in Business Central:
(1) In this blog, we will see how to create and post a Payment Journal. Use payment journals to post financial transactions directly to general ledger accounts and other accounts, such as a bank, customer, vendor, and employee accounts. Go to the search bar and type “Payment Journal”, as shown.
(2) After that, the “Payment Journal” opens and enters the information. In the below screenshot, we entered the opening of Ledgers, Customers, Vendors and Banks, Bank Payments, Bank Receipts, Contra Voucher, Journal Voucher, Cash Payment & Cash Receipt, as shown.
- Example-001: Opening Of Customer
- Customer-001 debited → X Amount Dr
- Control Account credited → X Amount Cr
- Example-002: Opening Of Vendor
- Vendor-001 credited → X Amount Cr
- Control Account is debited → X Amount Dr
- Example-003: Opening Of Bank
- Bank-001 credited → X Amount Cr
- Control Account is debited → X Amount Dr
- Example-004: Opening Of Ledger
- Account-001 credited → X Amount Cr
- Control Account is debited → X Amount Dr
- Example-005: Bank Payment
- Customer-0001 credited → X Amount Cr
- Bank-0001 debited → X Amount Dr
- Example-006: Bank Receipt
- Vendor-0001 debited → X Amount Dr
- Bank-0001 credited → X Amount Cr
| Field Name | Field Description | Importance |
|---|---|---|
| Batch Name | Specifies the name of the journal batch (discussed in “Overview of Vouchers” blog). | Mandatory |
| Posting Date | Specifies the entry’s posting date. | Mandatory |
| Document Type | Specifies the type of document that the entry on the journal line is. | Optional |
| Document No. | Specifies a document number for the journal line. | Mandatory |
| External Document No. | Specifies a document number that refers to the customer’s or vendor’s numbering system. | Optional |
| Account Type | Specifies the type of account that the entry on the journal line will be posted to. | Mandatory |
| Account No. | Specifies the account number that the entry on the journal line will be posted to. | Mandatory |
| Account Name | Specifies the account name that the entry on the journal line will be posted to | Mandatory |
| Description | Specifies a description of the entry. | Mandatory |
| Amount | Specifies the total amount that the journal line consists of. | Mandatory |
| Bal. Account Type | Specifies the code for the balancing account type that should be used in this journal line. | Mandatory |
| Bal. Account No. | Specifies Account from the list | Mandatory |
(3) After that go to the “Post/Print” → Post the entries shortcut Keys is F9 and press Yes, as shown.
(4) Entries posted and go to the “General Ledger Entries” and take the printout of that entry, as shown.
