You will need the Full Write Accounting permission to perform this action.
A journal entry is the most basic transaction in our accounting system. Whenever you work with account registers, accounts payable, accounts receivable, and others, a journal entry is created in the database.
Sometimes you may need to create a journal entry yourself to capture a transaction that cannot be entered any other way. Journal entries form the building blocks of the double-entry accounting method - every transaction is recorded in at least two accounts.
Important: only add a journal entry if you are confident in the process and desired result. The system only enforces that the journal entry is in balance when saving. Adding entries without understanding how debits and credits affect balances can lead to unintended results.
To enter a journal entry, go to Accounting > Entry in the left-hand menu and click the Journal Entries tab at the top of the Accounting Data Entry page. Click the + Add New button to create a new entry, or click an entry's ID in the table to edit an existing one.
The Add Journal Entry pop up has two tabs: General and Files.
General Tab
Date - Required. The date of the transaction.
Memo - Required. A brief description of what this journal entry is for.
Line Items - The accounts, funds, debits, and credits that make up the entry. Columns: Account/Fund, Description, Debit, Credit. To attach a payee to a specific line, click + Add payee under that line's Description.
Important: total debits and credits must equal each other before saving. In addition, debits and credits for each fund entered must also equal.
Click + to add lines; click X to remove a line. Use the clear all link at the top-right of the Line Items header to wipe every line.
Tip: click the show cheatsheet link at the top-right of the Line Items section to open a quick reference on how debits and credits affect each account type.
Files Tab
Upload any supporting files you want to store with this journal entry.
Saving the Journal Entry
There are two save options at the bottom of the pop up:
Save As Draft - saves the entry in a draft state (visible in the Journal Entries listing) without posting it to the general ledger. Use this for works in progress or entries awaiting review.
Post - saves and posts the entry to the general ledger. Only available when the entry balances.
Cancel closes the pop up without saving.