Myob Accounting UD. Buana || Input Transaksi No. 11 - 25 || Part. 5

Summary

This transcript details a series of accounting transactions, covering various financial activities such as purchase returns, cash receipts, sales entries, VAT payments, and loan disbursements. Each transaction is described with specific details, including suppliers, customers, dates, amounts, and relevant accounts used. The document showcases how accounting entries are recorded, providing a clear step-by-step guide for processing sales, payments, and returns. This process helps ensure accurate financial tracking and reporting for the company.

Takeaways

• 😀 A debit note is used to record a purchase return, such as when goods are returned to a supplier like PT Margonda.
• 😀 When recording returns, a minus sign is used to indicate the return amount or reduction in the purchase value.
• 😀 Cash receipts from invoice settlements are recorded as payments received against written invoices.
• 😀 Cash sales involve direct sales with payment at the point of sale, and no trade receivables are recorded.
• 😀 Proof of cash disbursements is used when paying for things like VAT, not for settling accounts payable.
• 😀 Sales invoices that offer discounts, such as 2/10 N 30 (2% discount if paid within 10 days), need to be recorded accordingly.
• 😀 Receivables written off earlier can still be paid off, and the payment is recorded as a bank receipt.
• 😀 For credit purchases, payments made to suppliers are recorded against trade debts and not as immediate cash outflows.
• 😀 Petty cash vouchers are used for small expenditures, such as repairs, and are recorded under operating expenses when the amount is under one million.
• 😀 Loan payments, such as principal and interest, are recorded separately in the bank account for both the principal loan and interest expense.

Q & A

What type of transaction is being recorded in the first part of the script?

The first transaction described in the script is a purchase return, specifically for a debit note related to a return of goods from PT Margonda, including HP perfume items and Dell Inspiron units.

How is a return of goods recorded in this transaction system?

A return of goods is recorded by placing a minus sign in front of the quantity or value, indicating a reduction in the purchase. For example, one unit of HP perfume is returned with a value of 16,000,000 IDR.

What action is taken when a proof of cash receipt is recorded?

When a proof of cash receipt is recorded, the system enters the sales payment received from a customer, linking it to the respective invoice settlement. For instance, a payment of 180,400,000 IDR is recorded from Digital Catfish for invoice settlement.

What does the term '2/10 N 30' represent in the context of the transaction?

The term '2/10 N 30' refers to a discount condition where a 2% discount is available if the payment is made within 10 days; otherwise, the full amount is due in 30 days. This is applied to sales transactions with certain customers.

How is a cash sale treated in the system?

In a cash sale, the sale is recorded immediately with no trade receivables because payment is received in full at the point of transaction. The system tracks the sales amount and ensures that no outstanding receivables are created.

What is the role of the VAT payment transaction in this system?

The VAT payment transaction is handled as a cash disbursement and is recorded separately from accounts payable. The VAT is paid for a specific period (November, in this case), and the transaction is recorded using the VAT payable account.

How does the system handle a situation where receivables are written off but later paid?

When receivables that were previously written off are paid, the system records the payment against the 'Allowance for Credit Losses' account, as the payment is considered a recovery of a previously written-off debt.

What does the system do when a credit sale is made with a discount term?

For a credit sale with a discount term (such as '2/10 N 30'), the system records the sale and applies the discount if the payment is made within the specified 10-day period. The sale is linked to the customer and the payment terms are recorded accordingly.

How are principal and interest payments for loans handled in the system?

When making loan payments, the system separates the principal payment and the interest payment. For example, in the case of a 19,102,018 IDR payment, 16,000,000 IDR is applied to the principal loan, while 3,000,000 IDR is recorded as interest expense.

How does the system record petty cash usage for non-receivable transactions?

Petty cash usage for transactions that do not involve receivables is recorded by selecting 'spend money' from the banking section, categorizing the expenditure under 'other operating expenses.' In this case, the company uses petty cash to cover the repair costs for a shop roof.