adjusting journal entries
Mike or Penny Novack
stepbystepfarm at mtdata.com
Thu Jun 6 16:29:12 EDT 2013
Rachel Gage wrote:
>How do I post an adjusting journal entry in Gnu Cash?
Nothing special needed (just like any other transaction).
In traditional (precomputer) pen and ink on paper bookkeeping
transactions were first entered into the journal and then this
transaction was posted into the ledger (with the journal entry marked
"posted". Gnucash is autoposting, that error prone (miscopying or
transposing digits) process automated for you but you work in reverse.
You begin entering the transaction in any of the ledger accounts
affected and that process lets you select the other account affected (or
accounts if a split).
I believe what you mean by a "journal adjusting entry" is a transaction
where there is no cash in or out. But it is still debits to one account
(or accounts) and credits to another (or others). It's only by the
purpose (making an adjustment) that there is a difference, not in what
you have to do.
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