Journals > Creating Journal Entries

Owned by Kat Grinter, created
Last updated: Mar 18, 2024 by Kye Hush
3 min read

Journal entries are used to move amounts from one account to another. This can be debtor/creditor payments, entering payroll, bank rec transactions etc.

This is also where your transactions will appear when using automated features in Workbook like payment proposals, project postings etc.

To learn more about navigating the journal entry module, see this knowledge base article.

ON THIS PAGE YOU WILL FIND:

ON THIS PAGE YOU WILL FIND:

CREATING A JOURNAL

  • Go to the finance & administration module > general ledger sub-menu > journals

  • Click the create new button

image-20240223-042117.png

  • Select your journal type from the list

image-20240223-042245.png

  • This will open the new entry in the journal entry tab

JOURNAL ENTRY FIELDS

Fields highlighted in blue are required or recommended.

FIELD

DESCRIPTION

REQUIRED

FIELD

DESCRIPTION

REQUIRED

Error
(green tick or red cross)

This will let you know if there any any errors when approving your entry

Automated

Booking date

The date the transaction happened

Y

Voucher no.

This is automated but can be changed if required

Automated

File upload (folder icon)

You can upload a document that relates to the transaction

N

Voucher date

This will populate with the booking date you enter. You can change this if required

Y

Comment

Use this to explain what the entry is for.
If you’re entering a bank item, this is what will show on the bank reconciliation

Not required but recommended

Type

From here you can select the type of transaction:
* Finance (GL items)
* Debtor (accounts receivable)
* Creditor (accounts payable)
* Holding (bank accounts)

Y

Account

Select the account this transaction relates to

Y

Currency

This will default to your local currency but can be changed

Y

Amount

The amount of the transaction

Y

GST

If you set up this line with GST (as set in Act. GST) the amount will show here

Automated

Type

This is the offset account type with the same options as above. This is used if you’re putting your debit and credit on the same line. More detail below

N

Offset acc.

This is the offset account with the same options as above. This is used if you’re putting your debit and credit on the same line. More detail below

N

Currency rate

This will default to 100.00% unless you enter a different currency

Y

Amount
(local currency)

If you change the currency, your local amount will show here

Automated

Trans. type

You can use this to specify a transaction type for reporting purposes

N

Dimensions

Any dimensions that are set up in your system are listed here

If your system requires it

ENTERING A JOURNAL

Journals can be entered either left to right or top to bottom. This depends on your preference but also whether you’re entering a transaction for one account or multiple to the same offset account.

  • Bank fee example:

Left to Right Journal Entry

  • The required fields for this transaction are:

    • Booking date

    • Comment - bank fee

    • Type - Finance as this is a transaction for a GL account

    • Account - The GL account

    • Amount

    • Type - Holding account as this is offset to a bank account

    • Offset account - The holding account

Top to Bottom Journal Entry

  • Line 1 required fields:

    • Booking date

    • Comment - bank fee

    • Type - Finance as this is a transaction for a GL account

    • Account - The GL account

    • Debit Amount

  • Line 2 required fields:

    • Booking date

    • Type - Holding account as this is offset to a bank account

    • Offset account - The holding account

    • Credit Amount

Related articles

 

© Tangram 2022. All rights reserved.