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how to enter the values in journal entries so that the status will be balanced?

By
Viney
on 10/16/13, 4:44 AM 524 views

I am a new user and I am unable to know about how to enter the different values in journal entries so that my status will be balanced type ?

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michel Guénard

--michel Guénard--
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--michel Guénard--

VP operations & finance Social entrepreneur Certified Public Accountant Past Chief internal auditor

michel Guénard
On 10/16/13, 5:54 AM

one or several accounts for the debit side = one or several accounts for the credit.

That said, if you use "specialized" accounting journals as defined by the System (Sales Journal, purchase journal etc...) with the default accounts for debit and credits being defined, the entries will be balanced automatically.

Setting up the default accounts must be carefully thought according to your chart of accounts; if you are not familiar with accounting ask for advise from an accountant.

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Asked: 10/16/13, 4:44 AM
Seen: 524 times
Last updated: 3/16/15, 8:10 AM