How to configure a journal in accounting app?
To configure a journal in Metro ERP's Accounting App, follow these steps:
1) Accessing Journal Configuration:
Go to the 'Accounting' module.
2) Create a New Journal:
In the 'Accounting' module, look for the 'Configuration' or 'Settings' section.
Under the configuration section, you'll likely find an option like 'Journals' or 'Journal Entries.’
Click on 'Journals' to access the list of existing journals and create new ones.
3) Adding a New Journal:
Once you're in the 'Journals' section, click the 'Create' button to add a new journal.
4) Setting General Information:
In the new journal creation form, provide general information:
Journal Name: Enter a descriptive name for the journal (e.g., Sales Journal, Bank Journal).
Journal Code: Optionally, assign a code to the journal for easy identification.
Journal Type: Select the appropriate type for the journal (e.g., Sales, Purchases, Cash, Bank).
5) Defining Journal Accounts:
Configure the accounts associated with the journal:
Default Debit Account: Set the default debit account for transactions in this journal.
Default Credit Account: Set the default credit account for transactions in this journal.
6) Numbering and Sequences:
Define the numbering and sequence settings for the journal entries:
Entry Sequence: Assign a sequence to the journal entries. This controls the numbering format for entries created in this journal.
Next Entry Number: Set the initial number for the next entry in the sequence.
7) Advanced Settings (Optional):
Depending on your requirements, you might find additional settings such as:
Allow Automatic Reconciliation: Enable this if you want the entries in this journal to be automatically reconciled with bank statements.
Automatic Post Entries: Select whether entries should be automatically posted or left in draft state until manual validation.
Consolidation Journal: If applicable, associate a consolidation journal for multi-company setups.
8) Save and Apply Changes:
Once you've configured the journal settings, click the 'Save' button to create the new journal.
9) Further Customization (Optional):
You can further customize the journal settings and accounts as needed.
Remember to review other related settings, such as access rights, tax configurations, and more.
10) Repeat for Additional Journals (Optional):
If you need to configure multiple journals (e.g., Sales Journal, Purchases Journal), repeat the above steps for each journal.
To get more details to configure a journal, please do contact us at firstname.lastname@example.org