Create a Journal Entry

Creating a journal entry in the Account Register lets you manually record financial transactions that the system doesn’t capture automatically. You can use this tool to adjust balances or record specific financial events. Proper use of journal entries ensures your accounts stay accurate and up to date.

There are two ways to access journal entries:

1. Access Journal Entries either through:

   1. Go to Close Management > Account Register.

   

   1. Keyboard Shortcut:

      1. Press Cmd+K (Mac) or Ctrl+K (Windows) to open the Command Palette.

      2. Click the New Journal Entry option.

1. Click + Add Journal Entry at the top of the screen.

1. Fill in the required header level fields:

   1. Name: Enter a descriptive name for the entry (e.g., "Year-End Adjustment").

   2. Date: Enter the date of your entry (e.g., 12/23/2024).

   3. Reversal Date (optional): Enter a reversal date if applicable (e.g., MM/DD/YYYY). 📄 Reversing Journal Entries.

      What is a Reversing Entry? A reversing entry is made at the beginning of a new accounting period to cancel out specific entries from the previous period. It helps avoid keeping accruals in the accounting system longer than necessary. By marking an original journal entry as a reversing entry, the software automatically creates the reversal in the next period, reducing the risk of manual errors.

   4. Attachment URL (optional): Paste any relevant links or documents.

   5. Customer/Vendor (optional): Select the customer or vendor from the dropdown list, if applicable.

2. Enter transaction line details:

   1. Account: Select the relevant account for the transaction line from the dropdown menu.

   2. Debit/Credit: Enter a debit or credit value in the corresponding field (e.g., $5,000.00).

      Note: Debit and Credit must be equal for the entry to balance.

   3. (Optional) Description: Provide a brief explanation of the transaction line (e.g., "Adjusting Q4 Revenue").

   4. Department: Select the department related to the transaction from the dropdown.

3. If you need to enter more accounts, click Add New Line and repeat the previous steps (Account, Debit, Credit, Description, Department).

   Note: Ensure to review the entered details to ensure accuracy before proceeding to the next step.

4. (Optional) Click on the Attach Files button in the screen's upper right corner to attach files to your journal entry. Select the files you wish to upload from your device.

5. Click Create Entry to complete and save the journal entry.

   

After creating the journal entry, you will see a message “Journal Entry created successfully,” confirming that the entry has been saved correctly.