There are rare circumstances where you or your accountant may need to manually add or correct an existing entry in your general ledger. Some examples include:
A registration fee was not applied correctly to a registration account
A function was incorrectly set up and did not apply its income to the correct account in the general ledger
There are many reasons why a manual Journal Entry would be necessary. In these cases, entering a Journal Entry is a straightforward process.
For this example, let's assume that the Networking Reception ($75.00) has been incorrectly linked to the City Tour income account. You caught this error early but there are a couple of entries that need to be adjusted. Each correction will consist of two entries. |
Entry #1
Select Journal Entry from the Accounting Panel.
Select the Add Journal Entry Button.
In Account, select the City Tours Account.
Enter a Debit of $75.00.
Enter an internal reference number, if needed.
Enter a brief description of your entry.
Select the Add Journal Entry button.
Entry #2
Select Journal Entry from the Accounting Panel.
Select the Add Journal Entry Button.
In Account, select the Networking Reception Account.
Enter a Credit of $75.00.
Enter an internal reference number, if needed.
Enter a brief description of your entry.
Select the Add Journal Entry button.
You have now successfully deducted $75.00 from the City Tours Income Account, and moved it into the Networking Reception Income Account.