Journal Entry Distribution Window
|Top Previous Next|
On this window, enter the General Ledger Account Number of the Account that will be affected by the Journal Entry. Either type in Account Number directly or search for one by clicking on the Search button. Next, enter either a Debit Amount or a Credit Amount but not both. A positive value is always input regardless of whether entering a Debit or Credit Amount. When adding Journal Entry Distributions, the Net Debits and Credits for entire Journal Entry will be displayed for reference. Remember, the Net Debits and Credits for the Journal Entry must equal zero prior to saving the Journal Entry. Once this information has been entered, click the OK button to return to the Journal Entry Window.
General Accounting Assistance:
For those unsure about the effect of a Debit or Credit on an Account may find the following chart helpful:
Account Type Debit Credit
Asset Increase Decrease
Liability Decrease Increase
Equity Decrease Increase
Revenue (Sales) Decrease Increase
Cost Of Goods Sold Increase Decrease
Expenses Increase Decrease
Other Income or Expense Decrease Increase
The Increase and Decrease indicate how the Account balance will change with a Debit or Credit. For example, a Debit to an Asset Account will increase the balance of the Account.
If the proper Account is not known when entering a Journal Entry Distribution, it is recommended that to check with the company accountant for advice. If the accountant is not available, the Suspense Account may be used to balance the Journal Entry. If so, be sure to alert the accountant when available regarding the Journal Entry.