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What is the difference between payment journals and purchase journals?
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A payment journal and purchase journal are both types of general journal used to post transactions to G/L, bank, customer, vendor and fixed assets accounts.
In both journals, the information entered in a journal is temporary and can be changed as long as it is in the journal. After you post a payment journal, the journal will be empty and the transactions will be posted to individual accounts.
If you use purchase invoices in the program, you probably will not need to use purchase journals.
That means, if you are not using Purchase invoice in the program, you can use purchase journal to record purchases directly (without recording items, rates etc.).
Payment Journal is used to registers payments to vendors. The payment journal can also be used to suggest payments and process cheques (as specified by Saurabh).
Hi
A purchase journal and payment journal is a type of general journal, so you can use it to post transactions to G/L, bank, customer, vendor and fixed assets accounts.
So in answer not a lot - then again significantly they are VERY different. The payment journal can also be used to suggest payments and process cheques, wheras the purchase journal cannot do this. The source codes assigned can also differ to allow tracking and filtering in the GL.
In Short : There is no difference between those two journal-types; in both cases you are working in table "Gen. Journal Line". But in the Payment Journal-form you can select Payments/"Suggest Vendor Payments", you can't do that in the other one.
Regards,
Saurabh Shah
Payment Journals is primarily used to record your payments to your Vendors while Purchase Journals is for posting purchase invoices. However, since we use the Purchase Invoice directly or through the Purchase Order we seldom use the Purchase Journals.
Using the Help function in NAV 2013 might help you as well. :)
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