Recording journal entries


A journal entry must be recorded in the accounting journal which corresponds to the types of the entry (sales, purchases, payments, bank, cash, etc.) and for a defined period.

Recording journal entries must be distinguished from the creation of a sales document (quote, invoice, etc.). In addition to recording general financial information, the sales document also involves inputting specific transaction details, such as items, quantities, discounts, etc.

Prerequisites

You already have a chart of accounts, accounting journals and tax rates. These default elements can nevertheless be changed to optimize and facilitate your entries in general.

Recording a journal entry consists of:

  • Creating the accounting document;
  • Entering the VAT included line in which you select a third party account – a third party can be created during the entry;
    Based on the VAT included line, if the entries are optimised, the selection of the third party will automatically create the other two partially completed entry lines.
  • Entering the line without VAT;
  • Entering the VAT line.
Entry principle
  • To make sure that all automatic functions are used during entry, use the Tab key to move from one zone to another.
  • If you made a mistake, it’s better to erase the line ( ) and restart it to keep using all automatic functions.

The procedure below corresponds to all types of entries: purchases, sales, payments, etc.

  1. Access the Journal entries.

    Accounting > Journal entries

  2. Create the accounting document ( +Create).
  3. If you are using the German legislation, you can enter a Session that you have previously created.
    This is not necessary for French and Spanish legislations.
  4. Select the journal related to the entry type (purchases, sales, etc.).
  5. Select a date.
  6. Add (+Create) and complete the VAT included line. Use the Tab key to move from one zone to another.
    At the end of the line, use the Tab key to add the contra line.
  7. Complete the contra line.
    Use the Tab key to move from one zone to another.
    At the end of the line, use the Tab key to add the VAT line.
    The VAT line is added already partially filled out or not.
  8. Display Tax details panel as needed to verify the consistency of the VAT. The VAT listed in the Tax details panel is included in the tax returns.
  9. Save.

The journal entries are registered and automatically receive a document number.

Additional information depending on the journal entry type and legislation is available in the panels below the entry lines. The information in these panels will be partly completed during the recording of the entry but will only be finalised after saving the entry.

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