đ Retail & Trade double-entry books
Goods, delivery fees and labour each post to their own income account. Tax follows the business registration, country and product tax class, and account sales go to debtors control.
Month Revenue (4xxx)
R 0.00
Goods, Delivery & Labour Income
Month Cost & Expenses (5xxx/6xxx)
R 0.00
Stock Cost, Purchases & Overheads
Net Month Operating Profit
R 0.00
Revenue Less Expenses
Recorded Output VAT (2150)
R 0.00
Tax Collected On Sales
Input VAT (1200)
R 0.00
Tax Claims On Supplier Invoices
Trade Debtors (1100)
R 0.00
Account Customers Outstanding
Cash & Bank (1000+1010)
R 0.00
Drawer & Bank Balance
đ Current period VAT figures
| Standard rated supplies (excl. VAT): | R 0.00 |
| Recorded output VAT: | R 0.00 |
| Input tax deductions (supplier invoices): | R 0.00 |
| Net month operating profit: | R 0.00 |
These are your own figures, for you or your practitioner to use. IntelliVision does not file a return with SARS.
đ How a Retail & Trade sale posts
A sale can carry goods, a delivery fee and labour at once. Each line goes to its own income account, applicable tax is recorded per line, and only goods lines touch stock and cost of sales.
[POSTING RULES]
âĸ Goods line: DR 1000/1100 / CR 4000 Sales / CR 2150 Output VAT
âĸ Delivery fee: CR 4030 Delivery Income / CR 2150 Output VAT
âĸ Labour line: CR 4040 Labour Income / CR 2150 Output VAT
âĸ On account: DR 1100 Debtors Control (credit limit checked first)
âĸ Stock intake: DR 5000 Inventory / DR 1200 Input VAT / CR 2100 AP
âĸ Goods line: DR 1000/1100 / CR 4000 Sales / CR 2150 Output VAT
âĸ Delivery fee: CR 4030 Delivery Income / CR 2150 Output VAT
âĸ Labour line: CR 4040 Labour Income / CR 2150 Output VAT
âĸ On account: DR 1100 Debtors Control (credit limit checked first)
âĸ Stock intake: DR 5000 Inventory / DR 1200 Input VAT / CR 2100 AP
âī¸ Mini trial balance (top accounts by activity)
Real-time double-entry trial balance from trialBalance().
| Account Code | Account Name | Debit (DR) | Credit (CR) | Net Balance |
|---|---|---|---|---|
| No postings yet â General ledger is currently zero. | ||||
| Grand Totals | R 0.00 | R 0.00 | Balanced | |