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Create a Journal Entry

Accounting & Bookkeeping BuildX



Journal entries are typically used as a last resort for recording transactions. You should only use them if you understand accounting principles or if advised by your accountant.

Purpose of Journal Entries:

  • Manually enter debits and credits, similar to traditional accounting systems.
  • Transfer money between income and expense accounts
  • Transfer money from an asset, liability, or equity account to an income or expense account

Add a Journal Entry

If you need to create a new journal entry, here’s what to do:

  • Step 1. Go to Journal entry menu under the Accounting module -> click on the Add button
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  • Step 2. In the Journal Entry, fill in the information

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  • Number: This field is automatically incremented for each journal entry.
  • Journal date: This is the date the transaction is recorded. By default, the current date will be used. 
  • Recurring: Use this option if you want to create a recurring journal entry. Select the appropriate recurring option to set up the frequency for the journal entry.
  • Account column: Choose the appropriate account and enter the corresponding amount in either the Debit or Credit column, as required.
  • Description column: This column is used to enter a description for the transaction. This description will be displayed in accounting reports.

To add a new row, click the green plus (+) button.

To delete a row, click the red minus (-) button.

Description: This field is used to enter a general description for the entire journal entry

  • Step 3. Click on the Save button.

Important: Ensure that the total debit and credit amounts are equal at the end of the journal entry.

 

Edit a Journal Entry

If you need to edit a journal entry, here’s what to do:

  • Step 1. Go to Journal entry menu under the Accounting module. Find and select the journal entry you need to edit.

  • Step 2. Click on the Edit 
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  • Step 3. Make the necessary changes and click on the Save button.

Delete a Journal Entry

If you need to delete or void a journal entry, here’s what to do:

  • Step 1. Go to Journal entry menu under the Accounting module. Find and select the journal entry you need to delete.

  • Step 2. Hover over the journal entry and click Delete
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  • Step 3. Confirm your selection in the following pop-up. The journal entry will be deleted.
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Export to Excel

  • Step 1. Go to Journal entry menu under the Accounting module. Find and select the journal entry you need to export.

  • Step 2. Hover over the journal entry and click Export to excel.
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