Journal
Last updated: 2026-03-29
Financial Journals
This module allows you to set up and manage the different Journals used to record your financial transactions. Journals help categorize your accounting entries (like Sales, Purchases, Cash Receipts, or General adjustments) and can automatically fill in default accounts to speed up data entry and reduce errors.
When Do I Use This?
- When setting up your accounting system for the first time.
- When adding a new bank account or petty cash fund that requires its own specific payment or receipt journal.
- When you need to update the numbering sequence for a new financial year (e.g., changing "CD-23-" to "CD-24-").
How To Use
Creating a New Journal
- Go to Financial → Journals from the main menu.
- Click the + New button.
- Enter a short Code (like CR for Cash Receipts) and a descriptive Name.
- Select the Default Debit and/or Default Credit accounts if applicable.
- Enter a Sequence Prefix to define how transaction numbers will look.
- Ensure the Active box is checked so your team can use it.
- Click Save.
Field Descriptions
| Field Name | Description |
|---|---|
| Code | A short, unique abbreviation for the journal (e.g., GL, SJ, PJ, CR, CD). Keep it brief. |
| Name | The full title of the journal that staff will see (e.g., "Cash Receipts Journal", "General Journal"). |
| Default Debit | The account that is automatically debited when a transaction is created here. Example: For a Cash Receipts journal, this is usually your Bank or Cash account. |
| Default Credit | The account that is automatically credited when a transaction is created here. Example: For a Cash Payments/Disbursements journal, this is usually your Bank account. |
| Sequence Prefix | The prefix used to automatically number new transactions in this journal. Example: Typing "CD-24-" will make your first entry "CD-24-0001". |
| Description | Optional internal notes about what this journal is used for. |
| Active | Check this box to make the journal available for recording transactions. Uncheck it to hide older or unused journals. |
Tip: Including the current year in your Sequence Prefix (e.g., "SJ-2024-") makes it much easier to search for and organize your financial records later! Don't forget to update these at the start of a new financial year.