Transaction

Last updated: 2026-03-29

Financial Transactions Overview

The Transactions module is the core of your accounting system. It allows you to record financial movements (journal entries) between your accounts using standard double-entry bookkeeping. The system strictly ensures that your books remain balanced by requiring total debits to match total credits before any transaction can be officially recorded.

When Do I Use This?

  • When recording manual journal entries, such as end-of-month accounting adjustments.
  • When recognizing direct expenses, revenues, or asset transfers that are not automatically generated by other system modules (like sales or purchasing).
  • When you need to correct an accounting mistake by safely reversing a previously posted transaction.

How To Use

1. Creating a New Transaction

  1. Navigate to the Financial Transactions screen.
  2. Click + New to create a blank transaction.
  3. Fill out the main details like the Date, Journal type, and a brief Note explaining the entry.
  4. Save the main transaction to begin adding your lines.

2. Adding Transaction Lines (Debits and Credits)

Every transaction requires at least two lines (one debit and one credit) to balance.

  1. In the transaction details section, click to add a new Line.
  2. Select the specific financial Account.
  3. Enter the amount in either the Debit or Credit field (leave the other as zero).
  4. Add an optional line Note if you need to explain this specific account's movement.
  5. Repeat this process until your total Debits equal your total Credits.

3. Posting the Transaction

Once your transaction is balanced and correct, it must be posted to officially hit your financial books.

  1. Review the lines to ensure the totals balance.
  2. Click the Transaction Post option.
  3. The system will verify that the Debits equal the Credits. If they do, the transaction status will change to Posted.
Note: Once a transaction is Posted, it becomes securely locked. You cannot edit or delete a posted transaction or its lines.

4. Reversing a Mistake

Because posted transactions cannot be deleted, mistakes are fixed using a Reversal. This creates an exact, automatic opposite entry to cancel out the mistake.

  1. Open the posted transaction that contains the mistake.
  2. Click the Transaction Reverse option.
  3. The system will automatically generate and post a new transaction with the Debits and Credits swapped.
  4. The original transaction will be marked as Reversed.

Field Descriptions

Transaction Details (Header)

Field Name Description
Serial / Name An automatically generated unique number for the transaction (often starting with a Journal prefix).
Date The date the transaction officially impacts your financial records.
Journal The accounting journal (e.g., General, Cash, Bank) this transaction belongs to.
Party (Optional) The customer, vendor, or employee associated with this financial movement.
Reference An external reference number, such as a check number or receipt ID. (Read-only once generated).
Note A brief description explaining the purpose of the overall transaction.
Balance The total balanced amount of the transaction. (Calculated automatically by the system).
Posted A status checkbox indicating if the transaction is locked and officially recorded.
Reversed / Reversed By / Reverses System-managed tracking fields that link original mistakes to their correcting reversal entries.

Transaction Lines (Details)

Field Name Description
Account The specific financial ledger account to be adjusted (e.g., Office Supplies, Cash).
Debit The amount to be debited to the account.
Credit The amount to be credited to the account.
Note Additional details specific to this single line item.
Tip: If the system refuses to Post your transaction, double-check your lines! The system strictly enforces the accounting rule that Total Debits must exactly equal Total Credits. Check for typos or missing decimal points in your line amounts.
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