Journal Entries

Overview

Journal entries are the primary tool for recording financial transactions that do not come from policy premium or payment activity. Use them for adjustments, corrections, accruals, depreciation, and any transaction that needs to be posted directly to the general ledger.

Creating a Journal Entry

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New journal entry form showing date, reference number, and a table of line items with account, debit, credit, and description columns

New journal entry form showing date, reference number, and a table of line items with account, debit, credit, and description columns

1. Navigate to Bookkeeping > Journal Entries.
2. Click New Journal Entry.
3. Enter the entry date and a reference number or description.
4. Add line items:
   • Select the account from the chart of accounts.
   • Enter the debit or credit amount.
   • Add a brief description for each line.
5. Verify that total debits equal total credits — the entry will not post until they balance.
6. Click Post to record the entry to the general ledger.

Note

Journal entries must balance before they can be posted — the system will show a warning if debits do not equal credits. Double-check your amounts if you see this error.

Recurring Journal Entries

For transactions that repeat on a schedule (monthly rent, quarterly tax estimates, annual depreciation), set up a recurring template so you do not have to re-enter it each period.

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Recurring journal entry setup form showing the template entry, frequency dropdown, start date, and end date

Recurring journal entry setup form showing the template entry, frequency dropdown, start date, and end date

1. Create a new journal entry and fill in the line items.
2. Before posting, click Save as Recurring Template.
3. Set the frequency: monthly, quarterly, or annual.
4. Set the start and end dates.
5. Click Save Template.

The system will generate the entry automatically at each scheduled interval. Review generated recurring entries before they post, or configure them to post automatically.

Correcting a Posted Entry

If a posted journal entry has an error:

1. Open the posted entry from Bookkeeping > Journal Entries.
2. Click Create Reversal — this creates an equal and opposite entry to undo the original.
3. Post the reversal.
4. Create a new, corrected entry.

Caution

Do not delete a posted journal entry. Always use a reversal to maintain a complete audit trail. Deletions cannot be reversed and will create gaps in the GL history.