Journal entries
Record manual and adjusting entries and post them to the ledger.
A journal entry is a direct posting to the general ledger — you select the accounts and enter the debits and credits yourself. Use it for adjustments, accruals, reclasses, and anything the subledgers don't originate.
Example
Record a $1,200 annual insurance premium paid in advance.
- Create a new journal entry, dated today, for the owning legal entity.
- DR Prepaid Insurance $1,200 (asset).
- CR Cash $1,200.
- Tag both lines with the property dimension so the cost is attributable in property-level reporting.
- Debits equal credits, so post the entry.
The prepaid asset is now on the balance sheet for that property; you amortize it to expense over the policy term with periodic entries.
How to create one
- Go to Accounting → Journal Entries → New journal entry.
- Set the date and the legal entity.
- Add a line, select the account, and enter the debit or credit amount.
- Continue adding lines until the entry balances. The running totals show debits and credits; they must be equal.
- (Optional) Apply dimensions at the header or line level — for example, a property.
- Save the draft, then post to commit it to the GL.
The entry cannot post while out of balance. If posting is unavailable, reconcile the debit and credit totals.
Correcting a posted entry
Posted entries are immutable. To correct one, reverse it — the system posts the offsetting entry — then post a corrected entry. This preserves a complete audit trail.
Key concepts
- Dimensions drive analytical reporting (by property, and other tracked segments). Apply them whenever an entry relates to a specific property or segment.
- Reversal vs. edit — always reverse-and-repost rather than editing history, so period balances and the audit trail stay intact.