A general journal entry is the core accounting transaction behind every financial transaction you create in Buildium. Using this feature is an advanced use of Buildium.
Synonyms include GJE, journal entry, and accounting journal.
For example:
- Buildium is great because I rarely need to record any general journal entries! It has specialized features for nearly every situation.
- Since I have a strong accounting background, recording general journal entries does not frighten me in the least.
- A general journal entry requires recording at least one debit and one credit.
Add a general journal entryShow
- Navigate to Accounting > General Ledger.
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Click Record general journal entry.
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Complete the form.
The form will add more lines to your journal entry as you select the Account.
Each journal entry can have only one occurrence of an account. For example, Repairs Expense could only appear once in the transaction. If your transaction has multiple occurrences of a single account, you should combine them before entering the journal entry.
Your journal entry must balance. That is, the sum of all debits must equal the sum of all credits.
Your journal entry must have at lease one debit and one credit. - Click Save.
Edit a general journal entryShow
- Navigate to Accounting > General Ledger.
- Search for the transactions using the available fields, then click the row of the general journal entry that you want to edit.
- The General Journal Entry pop-up window appears with details of the journal entry.
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Make your changes.
Each journal entry can have only one occurrence of an account. For example, Repairs Expense could only appear once in the transaction. If your transaction has multiple occurrences of a single account, you should combine them before entering the journal entry.
Your journal entry must balance. That is, the sum of all debits must equal the sum of all credits.
Your journal entry must have at lease one debit and one credit. - Click Save to save the new general journal entry information.
Delete a general journal entryShow
- Navigate to Accounting > General Ledger.
- Search for the transactions using the available fields, then click the row of the general journal entry that you want to edit.
- The General Journal Entry pop-up window appears with details of the journal entry.
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Click Delete at the top of the pop-up window.
- A confirmation pop-up window appears, prompting you to confirm the deletion. Click OK to delete the general journal entry and return to the General Ledger page.
Reverse a general journal entryShow
Buildium isn't equipped with a function to automatically reverse a general journal entry. You can create a reversing entry by adding a second general journal entry to your account.
Generally, reversed general journal entries are dated the 1st of the following month.
Recurring Journal EntriesShow
With the ability to set up journal entries that record on a recurring basis, you won’t have to worry about repeatedly recording multiple transactions manually every month - saving you time, ensuring accuracy, and preventing missing entries on your books.
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