Manual journals
How to record manual journals
Manual journals give you full control of your books, allowing for detailed tracking and adjustments. The latest update introduces new features that enhance functionality, especially for foreign currency transactions.
Step-by-step instructions
1. Go to the `Manual journals` page on the left menu.
2. Click "Add" to create a new manual journal.
Enter the Journal Header Details
- Date: Select the Date for the journal entry.
- Reference: Enter a Reference for the journal (e.g., an invoice number).
- Notes: (Optional) Add a Note to provide additional context for the journal.
4. Enter the Journal Line Items
Fill in the following details for each line item in the journal:
- Description: Provide a short transaction description (e.g., Office Supplies).
- Account: Select the appropriate account (e.g., Other Expenses).
- Currency: Choose the currency for the journal entry (e.g., USD).
- Fx Rate: Enter the exchange rate if the journal is in a foreign currency. (or you can click "Use Market" to apply the market rate.
- Debit: Enter the debit amount in the specified currency.
- Credit: Enter the credit amount in the specified currency if applicable.
- Debit bcy: The system will automatically convert the debit amount to your base currency.
- Credit bcy: The system will automatically convert the credit amount to your base currency if applicable.
- Contact: (Optional) Add the relevant contact for the transaction.
- Project: (Optional) Specify the project related to the transaction.
- Branch: (Optional) Select the branch associated with the transaction.
- Cost Center: (Optional) Choose the cost center for the transaction.
- Click Save to record the journal entry.
Foreign Currency Bank Reconciliation
Foreign Currency Bank Reconciliation
The bank reconciliation report is now available for foreign currency bank accounts.
When reconciling, the system will use the bank account's currency instead of the base currency, ensuring accuracy in your financial records.