Welcome to the Auxwall Gym Management Application!

In this tutorial, you will learn how to create a journal entry.

Why Create a Journal Entry?

Creating journal entries is crucial for maintaining accurate financial records in your gym. Here are some key benefits:

• Track All Money Flow: Journal entries help you record every financial transaction. This gives you a complete picture of how much money is coming in and going out.
• Streamlined Financial Reporting: Regularly maintained journal entries help in generating timely and precise financial reports.
• Audit Readiness: Well-organized journal entries ensure compliance with accounting standards, making audits easier and more efficient.
• Enhanced Budgeting and Forecasting: By analyzing journal entries, you can better plan your budget and forecast future financial performance.

Example: Moving Money Between Accounts

Let’s say you need to transfer money from your salary account to another account, or from your bank to cash. You would create a journal entry to record this transaction:

• Transferring from Bank to Cash: Record the money leaving the bank account and entering your cash account.
• Transferring from Salary Account to Another Account: Record the money moving out of the salary account into the new account.

This process helps you keep track of where your money is and ensures that your records are accurate.

Step 1: Accessing the Journal Entry Tab

1. A. Click the Accounts Tab.
2. B. Click the Vouchers Tab.
3. C. Click the Journal Tab.

Once you reach the journal entry page, you will see any previous entries that have been created.

At the top, there are two options:

• A. Export: Export data to Excel or PDF.
• B. Create New: Click this button to create a new journal entry.

Step 2: Creating a New Journal Entry

To create a new journal entry, click the Create New button located at the top right side of the window.

Filling Out the Journal Entry Form:

1. Date: Select the date of the transaction.
2. Reference Number: Enter a unique reference number for the transaction.
3. Transaction Type: Select either Debit or Credit.
4. Choose Ledger Type: Select from the following options:
   • A. Ledgers
   • B. Sundry Creditor - Supplier
   • C. Sundry Debtor - Customer
5. Choose Ledger Account: Based on the ledger type selected, enter the account. A dropdown will display available accounts for selection.
6. Narration: Provide a description of the transaction (optional).
7. Amount: Enter the transaction amount.

Ensure that the total debit and credit amounts tally, meaning the total should be zero. If you enter an amount on the debit side, make sure to match it with an equivalent amount on the credit side. Likewise, if you record an amount on the credit side, it should balance with a corresponding debit amount.

Adding and Removing Rows:

At the bottom left of the entry box, you will find a + symbol to add another row and a - symbol to remove a row as needed.

Finalizing the Entry:

Once all fields are completed and the totals match, press the Save button to finalize the journal entry.

Update Journal Entry:

To update journal entry details, simply double-click on the row and amend the data as needed. After making changes, press the Save button to update the information.

Available Options:

In the updating form, you'll find three essential options to assist you:

• Print: Click the printer icon to generate a PDF version of the journal entry for easy sharing and printing.
• Delete: Use the delete button to remove the journal entry if it's no longer needed. Please proceed with caution, as this action cannot be undone.
• Copy: Click the copy button to duplicate the current journal entry. This feature is particularly useful for repeating transactions, allowing you to quickly create a new entry with the same details.

After making changes, press the Save button to update the information.

Thank you for watching the tutorial! If you have any questions or need clarification, feel free to reach out. Thank you for using Auxwall!