Actual Journal Entries

Most users will create Journal Entries to:

• Make corrections to a past transaction;
• Enter accruals such as accounts receivable and revenue;
• Record allowance for bad debt and bad debt expense;
• Expense inventory to cost of goods sold.

This is referred to as an Actual Journal Entry.

You’ll learn about the other Journal Entry types (Gift Fund, Cash Transfer, Sponsored Project, Budget, Encumbrance, and Payroll Expense Transfers) later in this course.