This is how to do a Journal Entry

Processing Journal Entries

Journals will process a number of entries including bank interest, fees, GST refunds/payments, transfers and some corrections.

1

Under

Go to the

Admin

menu,

go to

then clock Journal Entry

.
~~Click New.~~

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2

Choose relevant Period – it will default to the current period.
Enter the relevant Date.Enter a Description (

Confirm the Period and Date for the entry are correct – change if necessary.
3	In the Ref No field enter the journal number (if you want to number the journals) ~~or include a note as to the nature of the journal (e.g. GST refund June).~~

3

4	In the Description field, enter a brief description of what the journal is for, e.g

.

GST refund June

).4

.
5	Select the Account you wish to allocate funds too.
6	Enter the amount in either the Debit or Credit field
7	Ensure that the Tax Category is correct and the Tax Amount is equal to the GST on the tax invoice (correct the tax amount to match the invoice if necessary).
8	Add any specific Details if required.
	~~Click Add Trans and Find the correct Account in the list.~~ ~~Enter the Amount in either the Debit or Credit field.~~ ~~Select the correct DR/CR. DR = debit and CR = credit.~~ ~~Select the correct Tax Category and, if necessary, ensure the Tax Amount is correct.~~ ~~Enter journal Details.~~

5

9	Continue clicking New Row until the journal is complete and the balance

in the top right hand corner

is $0.00.

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6

10	Click Hold. This will save your journal, but not submit it to the system. You can now check the journal or leave the screen and come back and edit the journal later if necessary. Once confirmed that the journal is correct, click Save.

Not sure if we need these or not, they were on the old page so brought them over.

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