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PS Cashbook

Journal Entries

Summary

How do I add a journal entry in Cashbook?

Detailed Description

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: 

  1. Click on the Journal toolbar icon.
  2. Click on the Add button.
  3. Enter the Date, Reference No. and Description of the transaction.
  4. Enter the Debit details in the first dissection line, the Account Code will be the Code of the account that is being Debited.
  5. Enter the Credit details in the second dissection line, the Account Code will be the Code of the account that is being Credited. 
  6. If Entries are excluded from BAS, No GST will automatically be set.
  7. Note the 'GST Override' options for Manual GST or No GST.
  8. Click on the OK button to save the data. 

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).

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