Journal Entries
Go to: Financials → Journal Entries
Journal entries are the core of double-entry bookkeeping. Every financial transaction is recorded as a journal entry with matching debits and credits.
Manual Journal Entries
Use manual journal entries for adjustments, accruals, opening balances, or any custom entries not triggered automatically.
Creating a Journal Entry
Go to: Financials → Journal Entry → New
| Field | Description |
|---|---|
| Entry Type | Journal Entry / Opening Entry / Depreciation / etc. |
| Posting Date | Date of the entry |
| Company | Company the entry belongs to |
| Narration | Description of the entry |
Add debit and credit rows:
| Field | Description |
|---|---|
| Account | The account to debit or credit |
| Debit | Amount to debit |
| Credit | Amount to credit |
| Party | Customer / Supplier (if applicable) |
Date: 2024-01-31
Narration: Monthly rent accrual
| Account | Debit | Credit |
|--------------|----------|----------|
| Rent Expense | 5,000.00 | |
| Rent Payable | | 5,000.00 |Total debits must equal total credits. The system will not allow submission of an unbalanced entry.
Automatic Journal Entries
ERPX automatically creates journal entries for:
| Transaction | Journal Entry Created |
|---|---|
| Sales Invoice | Debit Receivables / Credit Revenue |
| Purchase Invoice | Debit Expense / Credit Payables |
| Payment Entry | Debit/Credit Bank or Cash |
| Stock Movement | Debit/Credit Inventory accounts |
| Payroll Entry | Debit Salary Expense / Credit Bank |
| Delivery Note | Debit COGS / Credit Inventory |