Finance Journal Entries | Zayls

by Angelica San Juan
7 months ago
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Finance Journal Entries

Users can check on the journal entries in different transactions by selecting the Journal tab.

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BANK TRANSACTIONS

This is where adjustments in bank will be created. For example, owner’s deposit and withdrawal, bank interests, and bank transfers.

Journal Entry – Adjustment (Flow +):

  • Dr Cash In Bank (specific account selected in the Bank Account)

  • Cr Account (selected during creation of Bank Adjustment Type)

Journal Entry – Adjustment (Flow -):

  • Dr Account (selected during creation of Bank Adjustment Type)

  • Cr Cash In Bank (specific account selected in the Bank Account)

Journal Entry – Bank Transfer (Bank A to Bank B):

  • Dr Cash In Bank (specific account selected for Bank B)

  • Cr Cash In Bank (specific account selected for Bank A)

PAYMENT ENTRIES

This is where Advances to Suppliers and Customer Deposits are created.

Journal Entry – Advances to Suppliers

  • Dr Advances to Suppliers

  • Cr Cash In Bank (specific account selected in the Bank Account)

Journal Entry – Customer Deposits

  • Dr Undeposited Funds

  • Cr Customer Deposits

DEPOSITS

This is where Undeposited Funds are deposited to specific Cash In Bank accounts. Bank charges and CWT are also considered if applicable to the specific payment mode.

Journal Entry

  • Dr Cash In Bank (specific account selected in the Bank Account)

  • Dr Bank Charge

  • Dr Creditable Withholding Tax

  • Cr Undeposited Funds

Related Articles: Journal Vouchers