How do I add a journal entry in Cashbook?
The journal entry function provides a convenient method of entering non-cash entries into Cashbook.
These entries will not affect Cash Flow based reports or Cash Basis GST reporting but will be included in Profit & Loss statements and Assets & Liabilities reports as well as Accrual Basis GST reports.
Typical uses would include recording depreciation, end of year adjustments, accrued expenses, asset revaluations, etc.
Use of the journal function is optional and will probably only be used by experienced bookkeepers and accountants. Note that journal entries are made as "batch" entries where total debits for line items in the journal entry must equal total credits.
** Note again: We do not encourage journal entries and you should check with Accountant before entering.
To create a journal entry follow these instructions:
If cash-based, journal entries will not show up on BAS regardless of settings. Instead, enter the details as a Cash Journal through the Cashbook > Add Transaction menu option (select Cash Journal as the transaction type).