Create A Journal Entry

Audience: Admin, Finance
Type: Task

Reference

For system behavior and rules, see
SmartBooks Documentation – Section 6: Journal Entries and Adjustments

Purpose

Journal entries are used to record accounting transactions that are not created through bills, payments, or automated processes.

They are commonly used for adjustments, corrections, accruals, and closing entries.

How to Access

1. Go to SmartBooks

2. Click Journal Entry

3. Click New Journal Entry

URL format:
https://app.thulo.com/{tenantname}/ps/admin/accounting/journal-entry

Creating a Journal Entry

To create a journal entry:

1. Click New Journal Entry

2. Enter the Journal Date

3. Add a Reference or Description

4. Select the Debit Account

5. Enter the Debit Amount

6. Select the Credit Account

7. Enter the Credit Amount

8. Ensure total debits equal total credits

9. Click Save

The journal entry is recorded immediately.

Multiple Line Journal Entries

You can add multiple debit and credit lines in a single journal entry.

SmartBooks validates that:

• Total debits equal total credits

• All required accounts are selected

Important Notes

• Journal entries directly affect account balances

• Incorrect entries can impact reports significantly

• Journal entries should be reviewed before saving

• Editing posted journal entries should be done with caution

When to Use Journal Entries

• Recording adjustments

• Correcting accounting errors

• Posting accruals or provisions

• Month-end or year-end closing entries

Related Articles

• Loss & Adjustment Mapping

• Credit Note Mapping

• Chart of Accounts

• Income Statement Modification

End of Article