Manager.io/Manager
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changed by Lubos Hasko .
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Journal Entries are traditionally used to record transactions or adjustments into general ledger accounts. Manager has extended Journal Entries to provide for adjustments to subsidiary ledger accounts and transactions such as sales invoices, purchase invoices, bank accounts etc., depending on the plugins that are enabled. They are usually used by bookkeepers and accountants that have an understanding of double entry accounting. To create a journal entry, click New Journal Entry, complete the required fields and click Create to save the journal entry. If a journal entry is saved without balancing the debits with the credits, the difference will be allocated to a Suspense Account for correction later. To record transactions or adjustments to a subsidiary ledger or bank account, select the control account. An additional field will appear to select the relevant sub-account or transaction. As an example, if you have enabled the Sales Invoices plugin you can use Journal Entries to write off a bad debt by debiting an expense account, Bad Debts and crediting, Accounts Receivable then selecting the sales invoice to be written off. Journal Entries can be used for unusual accounting situations. As an example, you have enabled the Sales Invoices plugin and issued a Sales Invoice to a related entity that will not pay the invoice. Instead of the Sales Invoice remaining as outstanding forever it can be transferred to a loan account, as payment of the invoice. Debit a loan account in the name of the related entity; credit Accounts Receivable and select the sales invoice.Journal Entries are traditionally used to record transactions or adjustments into general ledger accounts. Manager has extended Journal Entries to provide for adjustments to subsidiary ledger accounts and transactions such as sales invoices, purchase invoices, bank accounts etc., depending on the plugins that are enabled. They are usually used by bookkeepers and accountants that have an understanding of double entry accounting. To create a journal entry, click New Journal Entry, complete the required fields and click Create to save the journal entry. If a journal entry is saved without balancing the debits with the credits, the difference will be allocated to a Suspense Account for correction later. To record transactions or adjustments to a subsidiary ledger or bank account, select the control account. An additional field will appear to select the relevant sub-account or transaction. As an example, if you have enabled the Sales Invoices plugin you can use Journal Entries to write off a bad debt by debiting an expense account, Bad Debts and crediting, Accounts Receivable then selecting the sales invoice to be written off. Journal Entries can be used for unusual accounting situations. As an example, you have enabled the Sales Invoices plugin and issued a Sales Invoice to a related entity that will not pay the invoice. Instead of the Sales Invoice remaining as outstanding forever it can be transferred to a loan account, as payment of the invoice. Debit a loan account in the name of the related entity; credit Accounts Receivable and select the sales invoice.
Journal Entries are traditionally used to record transactions or adjustments into general ledger accounts. Manager has extended Journal Entries to provide for adjustments to subsidiary ledger accounts and transactions such as sales invoices, purchase invoices, bank accounts etc., depending on the plugins that are enabled. They are usually used by bookkeepers and accountants that have an understanding of double entry accounting.
To create a journal entry, click New Journal Entry, complete the required fields and click Create to save the journal entry. If a journal entry is saved without balancing the debits with the credits, the difference will be allocated to a Suspense Account for correction later.
To record transactions or adjustments to a subsidiary ledger or bank account, select the control account. An additional field will appear to select the relevant sub-account or transaction. As an example, if you have enabled the Sales Invoices plugin you can use Journal Entries to write off a bad debt by debiting an expense account, Bad Debts and crediting, Accounts Receivable then selecting the sales invoice to be written off.
Journal Entries can be used for unusual accounting situations. As an example, you have enabled the Sales Invoices plugin and issued a Sales Invoice to a related entity that will not pay the invoice. Instead of the Sales Invoice remaining as outstanding forever it can be transferred to a loan account, as payment of the invoice. Debit a loan account in the name of the related entity; credit Accounts Receivable and select the sales invoice.changed by Tony Cammarata .