Journal Entry is used to record debit and credit entries for transactions in the general ledger. While most applications in acci.cloud/ automatically create and post journal entries to the chart of accounts, you can manually enter journal entries for transactions that cannot be handled by routine applications. This is especially useful for recording unique transactions, making adjusting entries, and correcting errors.
Create a New Journal Entry
- Go to Accounts on the left sidebar, and select Journal Entry
- Click Add New button in the top right corner.
- On the new adjustment page, fill in the following fields
- Journal number is an auto generated number.
- Date: Default date is today.
- Currency: Default is your home currency. For foreign currency, you have to enter exchange rate.
- Posting Basis: You can choose to post the journal transactions to accrual-basis, cash-basis accounts or both.
- Memo: for your reminder.
- Details
- Click “Add Line” button to add new detail line.
- Account. Select account from the dropdown list.
- Debit: Enter positive amount.
- Credit: Enter positive amount.
- * The debit and credit amounts are in the transaction currency. For foreign currency transactions, the system automatically converts these amounts to your home currency using the specified exchange rate.
- ** Total debit must equal total credit.
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- Click Save
