Like we have mentioned, in the Manual entry chapter, every transaction must have at least one debit and a credit account. Debit/Credit - this column must be crystal clear to you, depending on the nature of the transaction, the account can be debited or credited.Account - in this column, you can see an account which was used in the transaction.Source document - as you can guess from the title here you can see an identification name of the document, that served as a source of this journal entry.Accounting date - the exact date and time when did the operation was done.Number - every journal entry has a unique number, it is generated automatically and cannot be changed.Every transaction has a set of parameters that are presented in a table, they define and describe the entry, here is an explanation of them: To give you an idea of how it will look like, here’s an example:Īs you can see, and as we have stated before here is a list of accounting transactions. They all will be shown in a chronological order, newer are on top, oldest - at the bottom. Like we have mentioned before, EasyERP accounting software will display you all of the accounting transactions that have been done to this moment. To enter the journal entries menu in the EasyERP accounting software all you have to do is tap on the corresponding button in the Accounting menu: So, to summarize, journal entries menu is the list of all accounting transactions that represent every action of your company, that has to be mentioned in the financial statements. It holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues, and expenses. This menu provides a complete record of all financial transactions over the life of the company. Double-entry transactions are posted in two columns, with debit postings on the left and credit entries on the right, and the total of all debit and credit entries must balance. If you are not familiar with the term, here’s a quick definition, general ledger is - the master set of accounts that summarize all transactions occurring within a company.Įach financial transaction affects at least two general ledger accounts and each entry has a debit and a credit transaction. Journal entries menu is a kind of general ledger of your business, it is a company's set of numbered accounts for its accounting records. In this part of the documentation, we will provide you with a detailed definition of what is a journal entries menu in the EasyERP accounting software and will give you examples of the typical entries that you will see, during the course of your workflow.įirst, let us explain what data is stored in this menu, and why it is the most important part of the accounting module.
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