Journal Entries¶
Purpose¶
Journal Entries are used to record financial transactions that are not automatically captured by QoopOne — such as manual adjustments, corrections, opening balance entries, accruals, or special postings. Every journal entry must balance (total debits must equal total credits).
Who Can Access¶
- Administrator
- Accountant
How to Open This Page¶
Finance → Accounting → Journal Entries
Creating a Journal Entry¶
- Go to Finance → Accounting → Journal Entries.
- Click New Journal.
- Enter the Journal Date.
- Enter a Description (a clear note explaining why this entry is being made).
- Add journal lines:
- Click Add Line
- Select the Account from the chart of accounts
- Enter the Debit or Credit amount
- Repeat until all lines are added and the journal is balanced.
- Click Post Journal.
Warning
A journal will only post if Total Debits = Total Credits. If the journal is unbalanced, the system will block submission.
Field Guide¶
| Field | Required | Description | Example |
|---|---|---|---|
| Journal Date | ✅ | The date of the entry | 31 Dec 2024 |
| Description | ✅ | Why this entry is being made | Year-end interest accrual adjustment |
| Account (per line) | ✅ | The ledger account affected | Interest Income |
| Debit Amount | ✅ | Amount to debit on this line | ₦50,000 |
| Credit Amount | ✅ | Amount to credit on this line | ₦50,000 |