What is a manual journal entry?
A manual journal entry is a mean of manually recording transactions and making adjustments in the accounting entries.
What is the need of manual journal in TheBankNXT?
In TheBankNXT, manual journals can be used to record certain unique financial transactions which cannot be recorded normally or to make adjustments in any existing transactions in accountable. The user can record both the credit and debit entries for the transactions.
Whether the manual journal entries recorded are listed in the reports in TheBankNXT?
The manual journal entries recorded in TheBankNXT will be listed under the corresponding reports module in TheBankNXT. They will be listed in the journal entries report as manual journal with the respected reference number.
How to record a manual journal in TheBankNXT?
The manual journal in TheBankNXT can be added by following the below mentioned steps:
- Go to Accounting —> Manual Journal
- Click Create Manual Journal (or) Click ‘+’ symbol
- Enter the Date on which the journal entry (or) adjustment needs to be made by creating a journal
- Enter the Reference Number with which the journal will be associated
- Select the Account from which the amount is debited and an account to which the amount is credited.
Note: By default, all the accounting ledgers present and added in accountable will be listed. You have to just select the account which the entry has to be made
- Enter the Debit and Credit entries and amounts that needs to be recorded
- Make sure the amount debited is equal to the amount credited
Note: Make sure that the debit entries are equal to the credit entries
- Enter the Description / Notes for a journal to be recorded. Mention the reason for creating a journal which acts as a reference to identity the journal
- Now Click Save
The recorded transactions will be reflected in their respective accounts.
What are the reports which get effected while recording a manual journal?
The journal entry, trial balance, Balance Sheet & Profit and Loss reports gets affected on recording manual journals. It also effects the reports based on the account which is selected and manual journal entry is recorded.
For reports you can navigate to Reports Module in TheBankNXT and can view the respected reports according to the account selected.
How to edit the recorded manual journal in TheBankNXT?
The recorded manual journal can be edited by following the below mentioned steps
- Go to Accounting —> Manual Journal
- Click on the option button of the corresponding manual journal for which it has to be edited on the manual journal summary
- Click Edit Option
- Make the necessary changes that need to be done
- Click Save.
The journal entry changes will be made.
How to delete the recorded manual journal in TheBankNXT?
The recorded manual journal can be deleted by following the below mentioned steps
- Go to Accounting —> Manual Journal
- Click on the option button of the corresponding manual journal which has to be deleted on the manual journal summary
- Click Delete option.
The journal will be deleted.
