Switching Posting Types

  • 24/10/2024
  • 4 minutes to read

This article describes the Switch Posting Type Sales/Purchase feature, which lets you post sales within a purchasing document using the sales posting type – and within a sales document using the purchasing posting type.

Switching a posting type is useful when a sale to a customer, for example, involves a refundable deposit. This deposit could be related to a pallet on which the goods sold are delivered, consignment stock, reusable packaging, etc.

To switch the posting type of a G/L account or item

The steps below cover the process to enable the posting type switching of a G/L account, but it's also possible to enable it for an item.

To switch the posting setup of a G/L account:

  1. Choose the Search icon, enter VAT Posting Setup, and then choose the related link.

  2. In the action bar, select +New to create a VAT posting setup.

  3. Populate the fields on the General, Sales, and Purchases FastTabs according to your needs.

  4. On the Continia Finance FastTab, enter the desired dates for the Valid From and Valid Until fields – if needed. Then, enable the Switch Posting Type Sales/Purchase setting.

    Tip

    If you already have a VAT posting group set up for the switching, select the corresponding checkbox under the Switch Posting Type Sales/Purch. column on the VAT Posting Setup page.

  5. Choose the Search icon, enter Chart of Accounts, and then choose the related link.

  6. Select the G/L account to be used for the switching. Alternatively, you can create an account for this purpose.

    Note

    Make sure that the selected G/L account or item has the VAT Prod. Posting Group field set to the posting group for which you enabled the Switch Posting Type Sales/Purch. setting.

To use a switched G/L account or item in a transaction

The steps below cover the process to use a switched G/L account in a transaction, but it's also possible to use an item.

With the G/L account configured accordingly, you can now make use of it in appropriate transactions. This article uses a sales invoice as an example.

  1. Choose the Search icon, enter Customers, and then choose the related link.

  2. In the action bar, select New Document > Sales Invoice.

  3. Populate the required fields accordingly, including the information related to the sold item(s).

  4. In the Lines section, add a line. Select G/L account under Type and, under No., select the account configured in the section above.

  5. To verify the setup, select Post > Preview Posting. Two separate VAT entries related to the sales invoice should be visible – one for the sale and one for the purchase.

    Note

    The Line Amount Excl. VAT field must have a negative value for the line item related to the switched G/L account, otherwise it's calculated incorrectly. If the value under the Quantity field is negative, the Line Amount Excl. VAT is automatically converted to negative too.