Make a General Journal Entry
Before you can perform this task
If you are allocating amounts to projects, you need to make sure the accounts that you are using allow for project allocations. You can do this by selecting Allow Project Allocations in each account record.
Make a General Journal entry:
- Open the General Journal window. How?
- In the Home window, click Company on the navigation pane.
- In the Tasks section, click the General Journal icon.
- In the Source box, enter the source of the transaction, such as an invoice number. Enter a date.
- If required, type a comment explaining the transaction.
- If you are using a foreign currency, select the currency in which the transaction occurs. If you select the foreign currency, then you can also set the exchange rate "on the fly".
- Select the accounts which you would like to change and enter the appropriate amounts. For example, to pay a bank loan, you would select the bank account and enter the amount as a credit, and then select the Bank Loan account and enter the amount as a debit.
- If desired, enter a comment for each line of the transaction.
- To allocate revenue or expense amounts to a project, follow the steps on the topic Allocating Revenues and Expenses to a Project.
- If this transaction is a purchase or sale, you can also report the taxes.
- To verify the details of the transaction, on the Report menu, choose Display General Journal Detail.
- Click Process.
Note: The exchange rate is used for reports.
Note: Total debits and credits must be equal (but not 0).