How to Pass a Journal On Kwara Core

Created by Nicola Njagi, Modified on Thu, 29 Feb 2024 at 10:21 AM by Nicola Njagi

Overview

Journal Entries are the logs of all the transactions in your organization that have accounting implications.


Client account transactions will be logged automatically by Kwara after you link your products with GL Accounts.


Other transactions will need to be entered manually such as payroll or asset depreciation and expenses.


Automatic journal entries are logged when customer transactions are posted, allowing you to generate accounting reports on real-time data. To make the audit process easier, the journal entries are also linked to the correspondent customer account transaction.

Steps on How to Pass a Journal:


Step 1: Log into Kwara (app.kwara.com):

Access the Kwara platform by logging in to https://app.kwara.com/.

Step 2: Click on Finance:

Navigate to the Finance section.

Step 3: Click on Journal Entries:

Select the Journal Entries option.

Step 4:Click on the Green Add button:

Add the required debit and credit amounts and attach the relevant General Ledgers(GLs)

Step 5: Add the Value date

Scroll down to the value date section and add the date.

Step 6: Add a note(Optional):

Add any pertinent information that has not yet been captured

Step 7: Submit:
Success! You have successfully created a journal entry!


Please Note - Kwara will validate that total Debit amounts are equal to total Credit amounts. If they are not, the Journal Entry cannot be saved and you will receive an error message.

Please Note - In case you want to log several consecutive Manual Journal Entries you can tick the “Add” checkbox and after the completion of the first Manual Journal Entry the window will remain open so you can log the next one. In case you need to log "many-to-many" accounts Journal Entries, you can click on the blue "add" sign, which will add another account to be either Debited or Credited. You can add as many as needed.

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