![]() ![]() ![]() You can also import journal entry data from a CSV file. For more information, see Memorized Transactions. A journal entry is the first step in the accounting cycle. A properly documented journal entry consists of the correct date, amounts to be debited and credited, description of the transaction and a unique reference number. You can create memorized transactions for journal entries that recur or to create and use memorized journal entry templates. A journal entry is a record of the business transactions in the accounting books of a business. Click the View link next to the journal entry that you want to copy. To copy a journal entry, go to Transactions > Financial > Make Journal Entries > List. A journal entry is used to record the debit and credit sides of a transaction in the accounting records.It is used in a double-entry accounting system, where both a debit and a credit are needed to complete each entry. To manually create journal entries, see Manual Journal Entry Creation.Ĭopy an existing journal entry to automatically complete header and line-level data on a new journal entry. You can, however, select a different open period as the posting period when you approve the journal entry. In the second step of the accounting cycle, your journal entries get put into the general ledger. To make a journal entry, you enter details of a transaction into your company’s books. If the transaction period is locked or closed when the journal entry is approved, the posting period is determined by the accounting preference Default Posting Period When Transaction Date in Closed Period. What's Bench Learn more What is a journal entry Journal entries are how you record financial transactions. Until a journal entry is approved, NetSuite tentatively displays the posting period based on the transaction date. A journal entry is posted in a period to which the journal entry approver has access. Journal entry transactions are not posted until they are approved. ![]() For more information, see Journal Entries, Journal Entries Overview, and Journal Entry Preferences. Use journal entries to adjust the balances in your general ledger accounts without entering a posting transaction. ![]()
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