Journal Entry

Use a Journal Entry for a manual accounting adjustment, allocation, period-end journal, transfer between ledger accounts, or correction that is not part of a normal sales, purchasing, payment, payroll, or stock workflow.

This guide covers the complete journey: create and review a journal, reuse a template, schedule a recurring journal, reverse a submitted journal, and check the ledger result.

Use the normal transaction workflow when one exists. For example, use a Sales Invoice for a customer sale, a Purchase Invoice for a supplier bill, and a Payment Entry for a receipt or payment. These documents keep the operational record and accounting entry together.

Before you start

Confirm that you have:

• permission to create and submit Journal Entries for the correct company;

• the approved posting date and supporting evidence;

• the correct ledger accounts, parties, cost centres, projects, and other accounting dimensions;

• approval for any entry that changes a closed or previously reported period; and

• a clear debit and credit instruction from your finance process.

The journal must balance. Total Debit and Total Credit must be equal before you can submit it.

Choose the correct method

Create and submit a Journal Entry

1. Create the journal

Open the Journal Entry list and select Add Journal Entry.

If you have an approved template, select it in From Template. See Reuse a Journal Entry Template before you enter the amounts.

2. Complete the header

Review these fields:

• Entry Type: select the type that matches the purpose of the journal.

• Company: confirm the company before you add account rows.

• Posting Date: enter the date when the journal must affect the ledger.

• Multi Currency: tick this only when the journal uses more than one currency or an account currency differs from the company currency.

Do not use a generic entry type when a more specific type matches the transaction. The selected type can control the fields and checks that apply.

3. Add the accounting rows

In Accounting Entries, add at least two rows.

For each row:

1. Select the Account.

2. Enter the value in Debit or Credit. Do not enter both on the same row.

3. If the account is linked to customers, suppliers, employees, or another party, complete Party Type and Party.

4. Complete Cost Center, Project, or other required accounting dimensions.

5. Add a row-level reference when your review process needs one.

Use separate rows when an amount must be allocated across more than one account, cost centre, project, or party.

4. Add the supporting reference

Complete the reference fields that apply:

• Reference Number and Reference Date for an external source document or bank reference;

• User Remark for a short explanation that another reviewer can understand; and

• any attached evidence required by your organisation.

Do not put confidential information in the remark when it is not needed for the accounting record.

5. Review and submit

Before submission, confirm that:

• Total Debit equals Total Credit;

• the company and posting date are correct;

• each account is on the correct debit or credit side;

• every party and accounting dimension is complete;

• the reference and remark explain the purpose; and

• the entry will not duplicate a normal invoice, payment, stock, or payroll transaction.

Select Save, complete your approval review, then select Submit.

Submitted Journal Entry with balanced debit and credit rows

6. Confirm the ledger result

Open the submitted Journal Entry and select View > Ledger.

Check that the voucher, posting date, accounts, debit and credit values, party, and accounting dimensions match the approved journal. If the result is wrong, use the correction method in Correct a journal. Do not create an unrelated journal to hide the error.

Reuse a Journal Entry Template

A Journal Entry Template saves the account structure for a repeated journal. It is useful when the same accounts and dimensions are used, but the amount or reference changes each time.

Create a template

1. Open the Journal Entry Template list and select Add Journal Entry Template.

2. Enter a clear Template Title.

3. Select the Journal Entry Type and Company.

4. Tick Is Opening or Multi Currency only when the template needs that setting.

5. Add the required Accounting Entries rows.

6. Select Save.

Journal Entry Template with reusable account rows

The template stores the journal structure, including its company, entry type, series, opening or multi-currency settings, and account rows. It does not complete the current posting date, amounts, reference, or remark for you.

Use a template

1. Create a new Journal Entry.

2. Select the template in From Template.

3. Check the company, entry type, and every imported account row.

4. Enter the current Posting Date, debit and credit values, reference, and remark.

5. Complete the normal review and submission steps.

Treat the template as a starting point. Review it each time because the amount, period, dimensions, or required accounts can change.

Schedule a recurring journal

Use Auto Repeat when the same journal must be created on a regular schedule, such as a monthly allocation. The schedule copies the reference Journal Entry. It does not confirm that the journal is still correct for each future period.

Prepare the reference journal

Create and review the Journal Entry that will be the source for the schedule. Check its accounts, dimensions, debit and credit values, and remark before you continue.

Use values that are appropriate for every scheduled copy. If the amount changes each period, keep Submit on Creation unticked so a reviewer can update the draft before submission.

Create the schedule

1. Open the reviewed Journal Entry.

2. Select Menu > Repeat.

3. Select the Frequency. Available options include Daily, Weekly, Monthly, Quarterly, Half-yearly, and Yearly.

4. Enter the Start Date.

5. Enter an End Date when the schedule must stop on a known date.

6. Select Create.

Auto Repeat setup with frequency and schedule dates

Open the new Auto Repeat record and review:

• Frequency and Start Date;

• Repeat on Day or Repeat on Last Day of the Month, when shown;

• Next Schedule Date;

• End Date;

• Submit on Creation; and

• the linked reference Journal Entry.

The generated journal uses the schedule date for required date fields and copies the other values from the reference journal. Review the first generated copy before you rely on later runs.

Stop future journals

Open the Auto Repeat record and tick Disabled. Save the record and confirm that Next Schedule Date no longer shows an unwanted run.

Disabling the schedule stops future copies. It does not cancel, delete, or reverse Journal Entries that were already created.

Reverse a submitted journal

Use a linked reversal when you must undo the accounting effect of a submitted Journal Entry and keep a clear audit trail.

1. Open the submitted Journal Entry.

2. Select Actions > Reverse Journal Entry.

3. Enter the reversal Posting Date.

4. Check the new journal. The debit and credit values are swapped, and Reversal Of links it to the original journal.

5. Confirm the company, accounts, parties, dimensions, values, and posting period.

6. Save and submit the reversal through your normal approval process.

7. Use View > Ledger to confirm that the original and reversal have the expected net effect.

In a linked reversal, the accounting rows come from the original journal. If you need a different correction, use your approved cancel and amend process or create a separately approved correcting journal.

Correct a journal

Never change only the future schedule when an incorrect journal has already been submitted. Correct the submitted accounting entry as a separate action.

Review and confirmation checklist

Use this checklist before you finish:

Troubleshooting

Related documentation

• Create Journal Entry Template in Accounting

• Complete a Month-End Close in NexWave

• Reconcile Bank Transactions in the Bank Rec Workspace

• Accounting module