Accounting Entries
An accounting entry is the recording of a financial transaction in the institution's accounts.
Introduction
Each financial transaction (purchase, sale, payment, collection) must be recorded as an accounting entry. GO4SCOUNT ensures compliance with the double-entry principle.
Double-Entry Principle
Every accounting transaction affects at least two accounts: one debited account and one credited account. The total of debits must always equal the total of credits.
Create an Accounting Entry
To record a new entry:
Click on 'New Entry'
Select the accounting journal
Indicate the transaction date
Enter the description (transaction description)
Add debit and credit lines
Verify the balance (debits = credits)
Save the entry
Validation and Modification
Entries can have different statuses:
Draft
Entry recorded but not validated. Can be modified or deleted.
Pending
Entry submitted for validation. Cannot be modified.
Validated
Entry permanently recorded. Cannot be modified or deleted.
Next Steps
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