Journal entries are an essential part of accounting and bookkeeping.
To manually add journal entries into the General Ledger:
- Click on the Accounting icon to access the Accounting module.
- Select the Banks and Registers tab.
- Click + on the top right of the tab bar and select + New Journal Entry.
- The New Journal Entry modal displays. Complete the fields to add new journal entries. The date is populated with Today's date.
Remember that all debits and credits must equal out.
Journal Entries are made to both cash and accrual books. However, there are some accounts that are not shown on cash basis, such as, "Accounts Receivable" and "Fee Discounts". In such cases, one side of the journal entry may show up on cash reports while the other side will not. When making journal entries with these non-cash basis accounts please be wary of the possibility that one of these transactions could throw off your books.
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