Journal entry

Journal entry

Data Entry – Journals

Journals are used for accruals, doing certain corrections and for bringing in opening balances from a previous accounting system. Journals will not update the Sales Analysis and you should use Charges and Credits if you intend on updating the Sales Analysis.

Click on Accounting | Data Entry | Journals | Journal Entry

• Click on Add. When you save a File Reference is allocated.
• Select the Account Type and Account Code. The account name will default.
• Select Credit or Debit for Document type.
• Put in the amount
• Comment is optional but advisable
• Click on SAVE.
• Repeat the above steps for the other side of the Journal.

NOTE: When the journal entries are completed the batch value must always be zero i.e. the total number of debits must be the same as the total number of credits.

IMPORTANT NOTE::

Posting Journals directly to General Ledger Control Accounts should NOT normally be done as this will normally cause an imbalance within your monthly Financial Integrity Report. Please contact the helpdesk for more info...