Journal Entry

A Journal Entry is an entry made in the general ledger and it indicates the affected accounts.

A Journal Entry is a multi-purpose transaction where the debit and credit accounts can be selected.

All types of accounting entries other than Sales and Purchase transactions are made using the Journal Entry. A Journal Entry is a standard accounting transaction that affects multiple Accounts and the sum of debits is equal to the sum of credits. A Journal Entry Impacts the main ledger.

Journal Entries can be used for entering expenses, opening entries, contra entries, bank payments, excise entries, etc. For example, booking running expenses, direct expenses like petrol/transport, sundry expenses, adjustment entries, and adjusting invoice amount.

How to create a Journal Entry 

1. Log in to ASAERP:

   • Open your web browser, go to your ASAERP instance, and log in with your credentials.

2. Access the Accounting Module:

   • From the ASAERP dashboard, click on the "Module" icon in the top left corner.

   • Select the "Accounting" module.

3. Navigate to Journal Entry:

   • In the Accounting module, click on "Journal Entry" to access the journal entry list.

   • Click the "New" button to create a new journal entry.

4. Fill in Journal Entry Details:

   • Set the "Posting Date" for the journal entry. This is the date the transaction will be recorded.

   • Choose the "Company" for which you are creating the journal entry.

   • Optionally, you can assign a "Voucher Type" to categorize the journal entry (e.g., General Entry).

5. Add Accounts and Amounts:

   • In the "Accounts" section, add the accounts affected by the transaction.

   • For each account, enter the amount in the "Debit" or "Credit" column, depending on the nature of the transaction.

   • Ensure that the total debits equal the total credits to maintain the balance.

6. Accounting Dimensions (Optional):

   • Specify additional accounting dimensions such as cost centers, projects, or departments if needed. This provides more granularity to the journal entry.

7. Reference and Remarks:

   • Provide a reference and any necessary remarks to add context or details to the journal entry.

8. Save and Submit:

   • Click the "Save" button to save the journal entry as a draft.

   • If the journal entry is ready to be posted, click the "Submit" button. This action will confirm the journal entry, and it can no longer be edited.

9. Review and Print:

   • Review the journal entry details to ensure accuracy.

   • If needed, you can print the journal entry by clicking the "Print" button.

10. Workflow Integration:

    • Depending on your organization's configuration, the journal entry may be part of an approval workflow before posting.

11. Financial Reporting:

    • The data recorded in the journal entry contributes to financial reports and statements within ASAERP. You can analyze the impact of the transaction on your organization's financials.

These steps should guide you through the process of creating a Journal Entry in ASAERP. Adjust the steps based on your organization's specific configuration and requirements if necessary.