You can use a journal entry to record adjusting entries. For example, at the end of each month there may be a journal entry to record equipment depreciation. This would include a debit to depreciation expense (E) and a credit to accumulated depreciation (A).
The navigation step listed for accessing Journal Entry is currently in your Sandbox environment. It is not yet available in your Live site. In your Live site, navigate to the General Ledger page and click Journal Entry in the left-side menu.
- Navigate to the Journal Entry page.
- Click Create in the left-side menu.
- Add the applicable Create Journal Entry information, and then click Save.
- All fields are required.
- After entering the debit or credit in the first line, an additional line will appear.
- In order to save, debit or credit totals must match.
- Click the + Fund button to record additional journal entries.
- All fields are required.
- If the journal entry requires approval, click Send to Approval in the left-side menu. Otherwise, click Post in the left-side menu.
The system does not have a recurring journal entry function. Instead, it is recommended to track all financial transactions such as expenses and money coming in through vouchers, invoices, payments, grants, and donations.