Post a journal entry

A journal is used for recording non-regular transactions, for example, the depreciation of a fixed asset or writing off a bad debt. You can also use journal entries to transfer values from one account to another.

When you create a journal entry you must follow the principles of double-entry bookkeeping – for every debit balance, there must be a corresponding credit balance. This can be made up of several credits as long as the overall total balances.

  • 1. Go to Journals, then click New Journal.
  • 2. Complete the following information:
Reference Enter a reference for the journal.
Date Enter the date you want to use for the journal.
Description If required, enter a description for the journal.
  • 3. Click on an journal line, then complete the following:
Details If required, enter details for the journal.
Ledger Account * Choose the nominal ledger account you want to use for the first line of the journal.
Include on VAT Return? Choose whether you want to include this journal on your VAT Return.
Debit If this journal line is for a debit value, enter the value here and leave the credit as 0.00.
Credit If this journal line is for a credit value, enter the value here and leave the debit as 0.00.

* These details are compulsory.

If you’ve previously created transaction analysis types, for example, departments or projects, and made them active in the journals area, choose the relevant analysis type if required.

  • 4. Repeat the previous step for each journal entry line you want to enter.

If required, you can also perform the following tasks:

Insert a new row above an existing journal entry line To do this, hover over the icon that appears next to the relevant journal line then click the Insert row above button. When the blank entry line appears, enter the relevant journal information.
Create a copy of a journal entry line To do this, hover over the icon that appears next to the relevant journal line, then click the Copy row button. When the duplicate entry line appears, edit the journal information as required.
Delete a journal entry line To do this, hover over the icon that appears next to the relevant journal line you want to delete, then click the Remove row button.
  • 5. To rearrange the order of your journal entry lines, hover over the icon that appears next to the journal line you want to move, then drag and drop the journal line into the required position. Repeat this step for any other journal lines you want to move until you’re happy with the ordering.
  • 6. If you want to attach a file, for example, a copy of a receipt, click the Attachment button then click Upload files. Then browse to and double-click the relevant file.
  • 7. Check the total value of credits and debits balance, then click Save.

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