Understand the sales journal

1. Go to Accounting > End of Month Closing & Journals > Sales Journal.
2. Division and Branch should be left blank to choose all transactions.
3. Choose Accounting Period to produce the report in conjunction with the period-sensitive General Ledger.
4. Click This Year to obtain a report for all sales so far this year. Otherwise, enter one or more accounting periods to select less data.



5. Change the Cost Flag to General Ledger to pick up the G/L posting costs. Note that the reports exported to Excel display all available costs.
6. There are three costs available:
1. General Ledger Cost: Used for inventory valuation and G/L posting. Use G/L cost when producing a report to be tied to the Income Statement.
2. Salesperson Cost: Used to calculate sales commissions. In general the sales commission cost is equivalent to the G/L posting cost plus a percentage load.
3. Invoice Cost: For systems with Vendor Cost Contact Rebates. This is the cost of the product that accounts for the earned vendor rebate.
7. Click Run. On the Print Document window, click Save.



8. If you are working on a remote server a message box will appear to indicate that the file save location will be on the local computer. Click OK.



9. There are several options for generating electronic content. You can save the report as Portable Document Format (pdf), Excel (.xlsx) or Comma Separated Value (csv). Note that csv is fully convertible to Excel.

This report will take several minutes to run depending on the amount of data.

Viewing or exporting to .pdf format provides additional features:

• Transaction Summary by division, branch and invoice type
• General Ledger distribution summary
• Report Totals by transaction type
• Following is an explanation of the fields used on the Sales Journal
1. Net: Amount of sales revenue excluding freight. Note that there may be multiple G/L accounts used for revenues.
2. Freight: Amount of freight revenue
3. Misc Charge: Amount of miscellaneous charges. Note that this amount may be affected by positive and negative codes used for customer deposits.
4. Taxes: Amount of sales tax
5. Gross: Total invoiced amount (Net + Freight + Misc + Taxes)
6. Cost: Cost of merchandise represented in net amount. Note that there may be multiple G/L accounts used for costs
7. GP $: Gross Profit Dollars (Net minus Cost)
8. GP %: Gross Profit Percent (GP dollars divided by Net)