Differences
This shows you the differences between two versions of the page.
| Both sides previous revision Previous revision Next revision | Previous revisionLast revisionBoth sides next revision | ||
| cats:procedures:accounting:transactions:generaljournalentries [2016/04/01 16:23] – jen | cats:procedures:accounting:transactions:generaljournalentries [2017/12/19 03:21] – external edit 127.0.0.1 | ||
|---|---|---|---|
| Line 1: | Line 1: | ||
| =====Entering General Journal Entries===== | =====Entering General Journal Entries===== | ||
| General Journal entries are transactions that directly debit and credit the general ledger, using only G/L numbers. They do not use a bank code, account code, or invoice. They are frequently used for corrections to profit and loss (P&L) calculations that need to be booked to an inventory adjustment account. | General Journal entries are transactions that directly debit and credit the general ledger, using only G/L numbers. They do not use a bank code, account code, or invoice. They are frequently used for corrections to profit and loss (P&L) calculations that need to be booked to an inventory adjustment account. | ||
| + | |||
| {{entry> | {{entry> | ||
| + | |||
| CATS uses double-entry bookkeeping. This means that all entries, including invoices, have a debit to one G/L number and a credit to another G/L number. You will need to ensure that the lance of all general journal entries works out to $0.00. | CATS uses double-entry bookkeeping. This means that all entries, including invoices, have a debit to one G/L number and a credit to another G/L number. You will need to ensure that the lance of all general journal entries works out to $0.00. | ||