Overview

A journal entry is the record of a financial transaction recorded (entered) in a journal. A journal details all the financial transactions of a business and which accounts these transactions affect. Journal entries are assigned to specific accounts using a Chart of Accounts, and the journal entry is then recorded in a Ledger account. The journal entry can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". All corrections to transactions should be done from within the Module they were originally entered from. The only time you would enter a Manual General Ledger Journal would be for an Adjustment to a Manual Entered Journal or an Entry of a transaction that has no relevance on any of the source modules.

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