General Journal Entry

General Journal Entry

We use General journal entry section of peach-tree accounting software to record the Adjusting entry at the period ended. This General Journal based on dual affect which means if any item debited another item should also credited with the specific amount. In this journal the amount of Debit Entry must be equal to the amount of credited Entries or vice versa. To record Adjusting entry first of all you should go to “Task” manu and in task manu you should select “General Journal Entry” as this procedure is given below with the help of images.

                                            

When you click on “General Journal Entry…” the following window will appear in the form of journal

                               

In this section the following information must be provided to the software to record affect in financial records:

Date: Here you can select the date when you want adjust your financial records with specific entry

Reference: Here you can give any reference for this adjusting entry

GL Account: This is most important section which should be filled carefully, Here you have to select tow              General ledger Accounts respectively one General account is should debited and other must be credited or vice versa, record the dual effect of this adjusting entry.

Debit: Here you should enter the specific amount which you want to debited

Credit: Here you should enter the specific amount which you want to credit.

Example: In my example as you can se in the image the entry will be look like that

  Depreciation Expense-Equipment Accounts                             Rs.25000                       

                Accumulated Depreciation-Equipment Accounts                         Rs.25000

In the last you should Click on the save button to record this adjusting entry.