How to import sales entries as journal entries in zoho books

Created on:-
June 8, 2024
Category:-
Migration

Accountants use journals to directly enter debit and credit entries for distinct financial transactions into the general ledger. The entries in the journal are arranged in chronological order. Sales Journals, Purchase Journals, Cash Disbursement Journal, and Cash Receipt Journal are the specialty journals.

Manual journals can be used in Zoho Books to document these unique financial transactions that cannot be recorded normally. For example, depreciation rates for a particular month cannot be recorded routinely; however, a manual journal can be created for the month in question.

Manual Recording of Journals

You can add manual journals to Zoho Books by either creating new ones or importing existing ones.

Creating Manual Journals

To make a fresh journal:

create a new journal in the manual journal section, click the +New Journal icon.

∙ Please indicate the date for which the adjustment is required by writing a journal entry.

∙ Please provide the journal number associated with this journal item. The automatic generation of journal numbers is the default setting in this field. To initiate the editing process, please locate and click on the settings icon. A pop-up window will open, providing you with the option to manually input the journal number for a specific journal entry.

provide a Reference Number that will be used to associate the journal.

∙ The inclusion of notes is an essential need for the proper documentation of a journal. The rationale behind the establishment of a journal is inherently distinct and individualistic in nature.

∙ Please ensure that the journal type is designated as "Cash based Journal" if your account modification has been executed through a cash transaction.

∙ Please select the preferred currency for recording the journal entry.

∙ Choose the account from which the funds are deducted and the account to which the funds are transferred.

∙ Select the individual with whom you desire to establish a connection for the purpose of associating them with the journal entry.

∙ Please input the amounts for debit and credit that require recording.

∙ Click either Save and Publish or Save as Draft.

The status of the journal will be determined as either Published or Draft, depending on the choices made.

It should be noted that when a manual journal is created in the Draft stage, the transactions recorded in the manual diary will not be reflected in their corresponding accounts. The transactions will be recorded in their respective accounts solely upon the publication of the journal.

The process of importing manual journals

Manual journals can be imported by accessing the settings dropdown menu.

Choose the option to import academic journals.

Please select the file from which you would want to update the data. Data can be uploaded from the user's hard disk in the form of a CSV (Comma Separated Value), a TSV (Tab Separated Value), or an XLS (Excel Spreadsheet) file.

The appropriate character encoding should be chosen in accordance with the import file. To facilitate the process, Zoho Books offers the functionality to automatically produce journal numbers. By enabling this option, the system will generate the journal numbers on your behalf, disregarding any existing numbers within the file.

Select Next.

Map the appropriate fields and click Import.

The Published or Draft status of your manual journals will be included in the imported file.

Reports  

Generally, the Balance Sheet and Profit and Loss reports are impacted by manual journal entry.

Navigate to Reports > Accountant to view additional reports, including the General Ledger, Journal Report, and Trial Balance.

Manual journals- Bank Accounts

A manual journal can be generated utilizing the bank accounts that have been incorporated into the Banking module. Once a manual journal is created, the transaction recorded therein will be categorized as a Manually Added transaction in the corresponding bank accounts, either as a deposit or a withdrawal.

It is possible to associate a manually recorded bank transaction with an uncategorized transaction. In order to align:

∙ Navigate to the "Uncategorized Transactions" tab inside the designated bank account in the Banking module.

∙ Please choose an unclassified transaction.

∙ The optimal and potential matches are presented in the right panel, which will include the manually inserted transaction if the amount and date coincide.

∙ Please select the "Match" option for the corresponding transaction.

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