Journal Entry

View - Accounting - Journal Entry

The Journal Entry module is where you register your journal entries before you update them to the Nominal Ledger. As long as your journal entries remain in Journal Entry you can edit journal date, journal type, period, N/Cs, VAT codes, amounts and more.

A journal entry must consist of at least two balancing journal lines. The sum for the Debit of all journal lines must be the same as the sum for Credit. The journal entries will be given a number series, which is set within the Accounting settings.

Before you start using Journal Entry you should familiarise yourself with the settings, which you can regulate. The module can be individually customised and by adapting the user settings to your needs, you will be able to register your journal entries quicker and more efficiently.

An even quicker way of entering journals is to use Journal templates or to create your own shortcut toolbar buttons for template tools .

Some VAT codes can be adapted to your company through separate VAT code settings. Read more about editing VAT codes here .

Tip! You can check Profit/Loss and Balance based on the items you entered in Journal Entry before transferring to the Nominal Ledger. Pick the source for the printout in the Filter window in the Report module and choose between the Nominal Ledger, Journal Entry or use both.

Tip! It is possible to edit journals after they have been posted. This functionality allows you to edit posted journals without needing to credit the item or redo work already done. To read more about this functionality click here .