Solution Properties
Solution ID:
222001000100016
Last Modified Date:
Mon Mar 25 11:09:43 UTC 2024
Taxonomy Path:
Case category//How do I...//processing
Author:
[email protected]
Create a journal entry
Description

You can use a journal to record non-regular transactions, such as asset depreciation or bad debt write-offs. Journal entries also allow the transfer of values between ledger accounts. 

When to Use Journals

Use journals to adjust values between ledger accounts for actions that don't involve customers, suppliers or bank accounts. 

Examples include:

  • Recording Asset Depreciation
  • Making Dividend payments
  • Managing prepayments and accruals
  • Writing off debts

Using Control Accounts

Sage Accounting automatically emplys control accounts for many transactions to maintain double-entry bookkeeping. 

You will use many control accounts during specific Sage Accounting processes, like creating a VAT Return, submitting it, and then making the payment. 

The system indicates when you select a Control Account. Ensure you're using the correct ledger account and seek advice from an accountant or bookkeeper if unsure. 

Cause
Resolution

Enter a journal

  1. Go to More, then Journals. 
  2. Select New Journal.
  3. Enter a Reference and the Date.
    You can also enter an optional Description.
  4. On the first line, choose the ledger account, enter any optional details, and enter an amount for either Debit or Credit.
  5. If you want to include this Journal in a VAT Return, select the checkbox. 
  6. Repeat the process for the second line and add more lines as needed.
  7. Ensure the total Debits and Credits balance
  8. Select Save. 

Quick tips

  • To insert a new row above an existing one, hover over the icon next to the relevant journal line and select the Insert row above button
  • To copy a row, hover over the icon next to the relevant journal line and select the Copy row button
  • To delete a row, hover over the icon next to the relevant journal line and select the Remove row button
  • To rearrange rows, hover over the icon next to the journal line you want to move, then drag and drop it into the desired position

Attach files

To add attachments, select the Attachment button then Upload files. Choose the file and select Upload. 


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