Work with journal entries and fund transfers

A journal entry records a balanced accounting event that is not simply one purchase in a bank account. It can be used for an adjustment, reclassification, or intentional fund transfer.

Before you begin

You need the appropriate transaction permissions and access to the ledger accounts and funds. Confirm the accounting treatment with the person responsible for your books before posting an adjustment.

Enter a journal entry

1. Open the General Journal area under Bookkeeping.
2. Choose the new-entry action and enter the date and a memo explaining the reason.
3. Choose the ledger account and fund for each line.
4. Enter the debit or credit for each line and check that total debits equal total credits.
5. Save using the available workflow and complete review when the entry is correct.
6. Keep the supporting documentation and explanation with the entry.

Transfers between funds

An intentional transfer uses the journal’s fund-transfer workflow. Do not disguise a transfer by changing the fund on an unrelated bank purchase. Also distinguish a transfer between funds from a movement between bank accounts; they are different accounting events.

If the entry is blocked

Check the balance, required funds, permissions, and accounting-period status. A closed month requires an authorized reopen before a correction can change its books.

Next step

Check the affected fund balances and financial reports.