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Journal Entries

Journal Entries are transactional entries used to record transactions that don’t strictly identify as a Sale or Purchase. Such as the transfer of funds from a Bank Account to a Cash Account.

Creating Journal Entries

To create a Journal Entry first navigate to the Journal Entry page

Common > Journal Entry

Then click on the + button to open a new Journal Entry form.

Journal Entry Form

  1. Set the type of Journal Entry.
  2. Add rows for each Account and set the amounts being credited and debited.
  3. Click on Save and then Submit.

Double Entry Bookkeeping

When making a Journal Entry, you must ensure that the total amount in the Debit column should equal the total amount in the Credit column.

After clicking Submit, Accountinite will the make ledger entries and update the account balances.