How Do You Create Journal Entries?
Explanation: This application allows the user to enter journal entries that may or may not be associated to a customer, vendor, or order. The values should be entered as positive amounts in either the Debit or Credit Columns.
The debits must equal the credits to save the entry.
Tip: General Ledger Transactions that have a customer assigned to them will show in Customer history. Journal entry amounts will display under the Reference column. This does not affect the customers balance in history, but it will show that a ledger entry was created and associated with this customer, and the same is true for vendors.
Genral Ledger Transaction Security:
When processing transactions affecting prior month’s or a future posting date, a password can be assigned.
This option is located under Tools > Control > System Preferences. If no password is entered in System Preferences,
then the transaction will not require a password.
Import Journal Entries
An option to import journal entries will reduce the need to manually enter routine entries.
For example:
Importing a set of journal entries that the amount can vary each month. (Example: Utility or Telephone bills)
Importing a set of monthly expenses that are recorded through a journal entry and the amount is the same each month. (Example: Rent)
Importing a long list of journal entries sent to you by your outside accountant (via a spreadsheet).
Setup
Location: Tools – Control - Mappings
Within the Mappings menu, click new and enter a description and select the type of Journal Entry.
Creating a mapping will allow you to indicate which columns of a CSV file contains specific journal entry details. If the same layout is used each time this mapping will only need to be created once. If multiple CSV layouts are going to be used, multiple mappings may be needed.
Using the first two columns of example data provided in the mapping window, indicate which columns on the spreadsheet should populate the fields on the Journal Entry window.
For example: the column containing 960 represents an Account Number, the column containing "Online Store Fees" represents a memo, the column containing $360.45
represents a Debit Amount and the column titled "Credit" that does not contain a value represents a Credit Amount.
Go to Accounting - General Ledger – New and within the Journal Entry window click Import.
Select the Mapping to use for this import. The mapping file will be used to import the journal entries from the CSV file.
The mapping file can be used to import various CSV files with the same layout. Browse and select your import file and click ok.
Adjustments or changes can be made to the entry before or after processing.
Note: If you use the P&L (Profit and Loss) Cost Center Reporting Add-On, updating is also available to import into the cost centers.