Greetings and welcome to the user guide dedicated to understanding journal entries, a fundamental component in accounting and transaction management. Journal entries are especially helpful for managing referrals after closing, adjusting commission payouts and expenses, and so on.
To create a journal entry, go to Accounting > +Add > Journal entry. You will be prompted to select whether this Journal entry is related to a specific transaction or not.
If you select a linked transaction, you'll see the Journal entry in the transaction ledger.
You can also create a Journal entry right from the Transaction Ledger page by clicking the Actions > Add journal entry button at the top-right of the page.
Begin by selecting the Date of your entry, payment's Ref number (if applicable), and a short context-related description for Notes.
The next step is adding the needed line items. First, select the related Account and enter the Debits amount. For Memo, we recommend writing a specific reason for making this entry. Then, select the related Party.
You can add as many line items as you want by clicking the + add line item button.
Follow the same flow for Credits: select the Account, enter the Credits amount, write a Memo and select the Party.
When all set, click Create.
Now, you can see the journal entry in the General ledger as well as the Transaction's Ledger if you've selected a transaction during the journal entry creation, and Agent's ledger (for the agents selected as Party).
Journal entries will also be reflected in agent statements and agent's transaction history.