Journal Entries record financial transactions using the double-entry method, ensuring balance between debits and credits.
This article will aid you in creating a Journal Entry.
Step 1: Go to Accounting, then select Journal Entry, and click on + New JE - NORMAL.
Step 2: Please provide the key entry details in the data form. You may take note of the definitions per section.
- Journal Date: Choose the date of the transaction.
- Currency: Select the appropriate currency for the transaction (refer to Section 10 for adding new currencies).
- Account: Choose the account impacted by the transaction.
- Debit/Credit: Mark the entry as a debit or credit, based on its financial impact. Kindly note that figures should be ‘balanced’ ($0.00)
- Attachment: This section is not mandatory. You may upload a file relevant to the transaction. You may also write some notes for your reference. To review the parameters of the acceptable file types, you may click on it - or see the image below for reference.
- Memo (Optional): If you need to add notes or descriptions about the uploaded file, do so here.
🔶Note: Single uploads should not exceed 10MB and can only upload a maximum of 10 attachments.
Only the following file types are allowed: DOC, DOCX, XLS, XLSX, JPG, JPEG, PNG, GIF, PDF, MP4, FLV, RMVB, AVI.
Step 3: Click Save to complete. Once saved, a prompt will indicate a successful line entry of the Journal Entry (JE).
The journal entry has been successfully created.
STEP 4: The last (optional) step is to click the arrow icon on the right to expand the entry and view its content. See the image below for reference.
🔶 NOTE: You are unable to save the transaction if the figures are not reconciled/balanced. An error will be shown in a highlighted box as shown below. Kindly revisit the indicated figures to create a 'balance'.