You can utilize Journal Entry (JE) to record adjusting entries. For example, at the end of each month, there may be a journal entry to record equipment depreciation. This JE will include a debit to Depreciation Expense (E) and a credit to Accumulated Depreciation (A).
To Record a Journal Entry:
- Navigate to General Ledger.
- Select Journal Entry from the left-side menu.
- In the Create Journal Entries window, enter the:
- Transaction Date
- In the Fund Entry window, enter the:
- A second line will appear where you enter the Account, Description and Credit. You can continue adding Accounts and Debits or Credit as needed, but Credit and Debit totals must match before you can continue.
- If you need to Record a Journal Entry for another Fund, click the +Fund button and complete the fields.
- Once all information is entered, click Save.
- Review your transaction and click Post from the left-side menu.
Note: CommunitySuite does not have a Recurring Journal Entry function. Instead, you are encouraged to track all financial transactions, such as expenses and money coming in, through Vouchers, Invoices, Payments, Grants and Donations.