Quick Entries is a part of the Banking and GL module to ease the repeated accounting entries.
Many business transactions are repetitive. Quick Entries allow presetting transactions and allocate a transaction amount to different fixed accounts or taxes. Setting up a Quick Entry involves defining the type of entry first, then creating numerous transaction lines. Quick Entries are also known as Repetitive Transactions.
Quick Entries are available for Payments, Deposits, Journal Entries and Supplier Invoice / Credits, it pre-populates preset fields in the relevant transaction screen, moreover, populated values can be changed before submitting the transaction.
Banking and General Ledger tab => Basic Data => Quick Entries
- Enter/Modify Quick Entry.
- Choose a name for your quick entry.
- Determine type of entry.
- Define the default base amount used at the start of calculations.
- Define the description of base amount used as remainder during quick entry usage.
Every operation defines how the amount posted to the selected account is calculated. Currently, following type of operations are defined:
- Post constant amount to selected GL account.
- Post percent part of base amount to selected GL account.
- Post taxes for selected tax type, using base amount as net value.
- Post taxes for selected tax type, using base amount as value with tax included.
- Post remainder from previous calculations to selected GL account.
After most operations the base amount can be increased, decreased or not changed depending on option selected. For every operation, you can also select a dimension(s) if you want to keep track of a dimension.
If tax should be included in the base amount, you can first select a line Tax included, reduce base and select the correct tax type. And a line with Remainder put on the account you want to put the rest on. Order is important in this instance – the Remainder entry must come last.
Fill in the Amount field and click Go, and the respective fields of the form will be filled based on how you configured the Quick Entry.