Creating Journal Entries
Journal entries are the building blocks of double-entry accounting. Use them for adjustments, corrections, and non-standard transactions.
Double-Entry
Every journal entry must balance. Debits must equal credits.
When to Use Journal Entries
Year-End Adjustments
Accruals, prepayments, depreciation
Corrections
Fix posting errors
Opening Balances
Set up starting balances
Inter-Company
Transfers between entities
Creating a Journal Entry
- 1 Navigate to Accounts → Journal Entries
- 2 Click Create Entry
- 3 Enter the date and description
- 4 Add debit lines (accounts that increase)
- 5 Add credit lines (accounts that decrease)
- 6 Ensure debits = credits
- 7 Click Post