Creating Journal Entries

This helps explain Journal entries and will guide you through creating and posting a proper journal entry.

The journal entry page allows you to enter and post General Ledger journal entries.  A journal is basically the record of a financial transaction. Most often these entries are made automatically, but at times adjustments or unique financial transactions may require manual entry.

Journals represent specific types of entries and adjustments that you can make to varying accounts in your system. Studio Designer is preloaded with Journal types, but more can be added if required. See Journals.

Studio Designer is a double-entry accounting system.  This means that you must have at least two entries for each complete journal entry and the total of those entries must be 0.00.

Other features include:

  1. Head to Accounting > Journal Entries; this will take you to the Journal Entries page. If you have made any Journal Entries previously, they will appear on this screen.
  2. Click New Journal Entry in the upper right hand corner. This will take you to the New Journal Entry screen where you can edit the values of your new Journal Entry.
  3. Fill in the details of the Journal Entry; this is where you can enter the amount of money, the type of entry, and the account that will be impacted.
  4. Click Save to create a Pending Journal Entry and close the page.
  5. Review and verify details of the transaction on the main Journal Entries page.
  6. Click New Journal Entry to create the other side in order to have this logged into your account correctly.
  7. Create the reverse of the previous entry by filling in similar information to the first transaction. Ensure that the Amount is negative, then click Save.
  8. View both sides of your single entry on the main Journal Entries screen. The balances on this screen must equal 0, as in the below screenshot.

  9.  Set Post Date; on the Journal entry page, set the date you want the journal entry to be posted. Set the date at the top of the page next to the Print Entries button. 
  10. Click Post Entries; you will see a dialog prompting you to make these entries. Click OK to post the entries.