Journal Entries

Journal Entries

Journal Entries

Adding a Journal Entry

  1. Navigate to Accounting → Journal Entries.
  2. Click Create / New.
  3. Enter a Number for the Journal Entry (1, in screenshot below).   If left blank, this will auto-populate with the next sequential number.
  4. Verify or change the Date.
  5. Enter the Currency (if using multi-currency).
  6. Verify the exchange rate (if using multi-currency).
  7. Enter a Memo (3) (optional).
  8. Check the Adjusting checkbox if applicable.
  9. To exclude from reconciliation, check the Do Not Reconcile checkbox. 
  10. Click the Add button to add a line.
  11. Enter an Account, an Amount in Debit or Credit. 
  12. Enter a Company, Memo, Project and Class (optional).
  13. Repeat 10 and 11 for the balancing entry.
  14. Click Save to save a draft or Save and Close to finish.

Note:  The Company field is required when the account on the journal entry is an Accounts Receivable or Accounts Payable account AND if the Adjusting Entry checkbox is not checked.

Reversing a Journal Entry

  1. From the list view, double click the journal entry to be reversed. The journal entry will be displayed.
  2. Click the Generate / Reverse. A copy of the entry will be make with reversing transactions. A memo is auto-filled indicating that this is a reverse transaction.
  3. Click Save.

Creating a Recurring Journal Entry

  1. From the list view, double click the journal entry to be reversed. The journal entry will be displayed.
  2. Click the Show Recurring Documents  (4)
  3. Follow the instructions to create a recurring template.

Attaching Files to Journal Entries

Supporting documents may be made to a journal entry by clicking the Attached Files button (5).

Journal Entry Tips and Tricks

  • The journal entries debits must balance with the credits.
  • As many lines may be entered as needed, as long as they balance.
  • The entry may be marked as an adjusting entry by checking the checkbox.

Last Updated  10/07/2021 - JML

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