Hi All,

As per title, can I post all transactions in JV instead of PV & RV? Let's say the company doesn't have any accounting system. All works have to be done in Excel. Is there any problem when it comes to audit?

Thanks.

No problem

Can.

As long there is a record, can.

Want to write manual ledger like old times also can.

Hey all, appreciate your help! Have a good night all!

Can, but it would be weird to post a non-payment related transaction using a payment voucher. Or, to post a payment transaction using a journal voucher. It's quite unthinkable. And a qualified accountant will instantly know that the preparer is not qualified to even be a book-keeper. Despite there is no real implication if you post it in an Excel, and not an accounting system, I would strongly advise against simply using JV, PV, etc for whatever transactions. Use the correct voucher for the correct type of posting.



This post has been edited by darrenboy: Apr 8 2021, 11:25 PM

Hello, thanks for your input Let me look into this. Maybe to suggest company to purchase accounting system to make works easier.

Thank you.

boleh try sql dan quickbook,

memang easy for small/medium company,

Thanks for the suggestion. What about auto count?

auto count ok juga, but paling senang quickbook i rasa, this is base on my exp in accounting for 13 years

You first time doing accounts?

Nice bro, thanks for sharing Online beli ke? atau ada technician datang install?

last time i beli online je, boleh jugak orang datang install, some more they conduct training

Even if you do it manually on excel, you can still manually enter reference numbers as PV, OR & etc. right? Why still insist on using JV as reference? JVs are reserved for transactions like adjustments, estimates, reversals & etc. You can use JV but you can expect to get a lot of unnecessary audit queries later.

yes, that's the better option.

T account when

Lesser the JVs, the better. Can avoid query from auditor later on.

There is a reason that there are separate books for Journals vouchers, Payment vouchers and Receipt vouchers. Unless your company is a very small one with minimal transactions, it is NOT recommended. Using EXCEL is also not recommended. Reasons are:

1. Receipt vouchers allow you to track what customers have paid with a running number. That way you can easily trace which customers and paid what with the sequential number. Also, there won't be any missing receipts that are unrecorded. Using JV will mean you lose the control over this sequential number. Even worst, if you're using Excel.

2. Payment vouchers again ensures all payments made are recorded. This can be especially big problem when payments are made via petty cash etc.

If you are ASKING this question, it's already clear that you have minimal accounting knowledge. Best solution is to use an accounting software. Given the fact that GST may be re-implemented in the near future, trust me... it'll be better in the medium and long run.

External auditors are the least of your worries.

This post has been edited by agewisdom: Apr 11 2021, 01:27 AM