Journal Entry Basics | Eleven Accounting Software

In this guide

Creating a Journal entry in base currency

On the navigation bar, select the Accounting tab and General Ledger menu.
Click the New Journal Entry button on the right.
Complete the journal entry form.
Click Save.
If journal entry is balanced, status will be updated from Incomplete to Drafted. Only journal entries with Drafted status can be posted.

On the navigation bar, select the Accounting tab and General Ledger menu.
Click on the New Fiscal Year button in the Fiscal Year list view. *Note: If you want to import past fiscal year data in Eleven, you will need to create your first fiscal year from the date you want to start using Eleven.
Complete the journal entry form.
To select a different currency, click on the currency dropdown and select the currency. You can change the rate, the currency amount and or the base amount.
‍*Note: If you cannot find a specific currency, you might have not set it up. Learn how to add a currency here: Define Currencies for Companies
Click the New Journal Entry button on the right.
If journal entry is balanced, status will be updated from Incomplete to Drafted. Only journal entries with Drafted status can be posted.

Only journal entries with Drafted or Incomplete statuses can be edited. They can be found under the Journal Entries tab.
Select journal entries to edit the information.
Click Save.
If journal entry is balanced, status will be updated from Incomplete to Drafted. Only journal entries with Drafted status can be posted.

*Note: You can also edit a journal entry created from a Magic Document from the Magic Document page. Click here to learn how: Edit Journal Entry from Magic Document

Under the Journal Entries tab, select the journal entry which you would like to delete.
*Note: You can only delete journal entries with Drafted or Incomplete status. Posted journal entry cannot be edited.
At the Actions drop down, select Delete journal entry.

In a journal entry modal, under the Actions, click on Copy.
If in your journal entry lines, there is/are AR-AP line(s) that contain Due Date(s), a prompt will be show to select the Transaction Date and Document Date.

n a Journal Entry Modal, under the Actions, click on Copy.
If in your journal entry lines, there is/are AR-AP line(s) that contain Due Date(s), a prompt will be show to select the Transaction Date and Document Date.
The Due Date(s) in the copied journal entry will be updated with the same number of days from the Document Date based on the original journal entry.

Under the Journal Entries tab, select the journal entry which you would like to post by clicking on the check box at the left end of each journal entry. You can also select all by clicking on the check box at the bottom left corner.
*Note: Only journal entries with Drafted status can be posted. Incomplete journal entries cannot be posted.
Under the Action drop down on the top right corner of the screen, click Post journal entry.

Under the Journal Entries tab, select and click on the journal entry which you would like to post.
*Note: Only journal entries with Drafted status can be posted. Incomplete journal entries cannot be posted.
Click on Post.

Under the General Ledger tab, select two or more journal entry lines that you would like to match.
*Note: The journal entries selected must be under the same account and balanced.

If an AR/AP journal entry with due date is not reconciled, the amount will be reflected in the Amount Overdue(s) bucket accordingly in the SOA report.
To reconcile an invoice with a payment/receipt, under General Ledger or the Journal Entries tab, select the invoice and payment/receipt entries. Then under actions, click on Reconcile AR/AP.
After an invoice is reconciled with a payment/receipt, the amount will be reflected in the Amount Overdue(s) bucket accordingly in the SOA report.