• Getting Started
• Understanding Double-Entry Bookkeeping
• Creating a New Journal Entry
• Adding Entry Details
• Adding Debit and Credit Lines
• Balancing Your Entry
• Saving and Posting
• Viewing Entry History

Getting Started

Journal entries are the foundation of your financial records in Pricefic. They allow you to record all business transactions using the double-entry bookkeeping method, which ensures your books stay balanced and your financial reports are accurate.

To create a new journal entry, navigate to Accounting → Journal Entries and click the New Entry button.

Understanding Double-Entry Bookkeeping

Every financial transaction affects at least two accounts:

• Debit — Money coming in or expense being incurred
• Credit — Money going out or income being received

The fundamental accounting equation must always balance: Assets = Liabilities + Equity

For every debit you record, you must record an equal credit. This ensures your books balance and provides a complete audit trail of all transactions.

Creating a New Journal Entry

Start by selecting the business you want to record the entry for if you manage multiple businesses. Then provide:

• Entry Date — The date the transaction occurred
• Reference Number — An optional identifier (e.g., "CHK-001" for check payments)
• Narration — A brief description of what the entry represents

Adding Entry Details

Each journal entry requires:

• Entry Reference — Auto-generated or custom reference for tracking
• Narration/Description — Summarize the transaction in a few words
• Business — The business this transaction applies to
• Date — When the transaction occurred

This information helps you quickly identify and search for specific entries in your journal.

Adding Debit and Credit Lines

For each journal entry, add line items representing the accounts affected:

For each line, specify:

• Account — Select the account to be debited or credited
• Description — Optional note about this specific line (e.g., "Payment for office supplies")
• Debit Amount — Money going into this account (assets/expenses increase, liabilities/income decrease)
• Credit Amount — Money leaving this account (assets/expenses decrease, liabilities/income increase)

You need at least two lines per entry—one debit and one credit.

Example Entry

Recording a $500 cash payment for supplies:

Balancing Your Entry

Before you can save a journal entry, the total debits must equal the total credits. Pricefic will show you:

• Total Debits — Sum of all debit amounts
• Total Credits — Sum of all credit amounts
• Balance Status — Indicates if your entry balances

If the totals don't match, review your line items and adjust amounts until they balance.

Saving and Posting

Once your entry is complete and balanced, you have two options:

• Save as Draft — Store the entry without affecting your financial reports
• Post — Finalize the entry so it affects your accounts and financial statements

Posted entries cannot be deleted but can be reversed by creating a reversing entry. Only posted entries appear in your financial reports.

Viewing Entry History

Access all your journal entries from Accounting → Journal Entries. You can:

• Search — Find entries by date, reference, or narration
• Filter — View by posting status (posted/draft)
• View Details — Click any entry to see the full debit/credit breakdown
• Reverse — Create an offsetting entry to undo a previously posted entry

Regular review of your journal entries ensures data accuracy and helps you spot errors or unusual transactions quickly.