Set up journals

A journal is where financial transactions are recorded in chronological order. Its primary purpose is to provide a complete record of daily activities. Additionally, a journal can be used to analyse past transactions, prepare tax returns and other reports, and plan future transactions, such as budgeting and forecasting.

By creating journals and linking them to ledgers, you can ensure that transactions are correctly grouped in your Financial transaction reports.

Create a journal

1. Navigate to Finance Manager, expand the Configuration menu item, and select Journal.
2. Click Create Journal on the journal overview screen.
3. Enter the required information:
   1. Name
   2. Description
   3. Journal number
      

      Tip

      If you use an external accounting system, match the Journal numbers in Maxxton Software to those in your accounting system. The Journal number will be visible in Journal outputs (Financial Transaction Report and Revenue Distribution)

       
   4. Journal type
4. Click Next Step.
5. Select the checkbox for the Ledger(s) you want to link to the Journal.
6. Click Create.

Journal types

Journal types group common types of transactions before posting to the ledger. The journal types in Maxxton Software are pre-defined and cannot be changed. You can select one of the following journal types:

• Cash: cash transactions for all points of sale accepting cash payments.
• Bank: digital (bank) transactions.
• Giro: transactions of ‘giro’ payments.
• Purchase: transactions for purchasing goods, services or supplies.
• Sale: sale transactions.
• Miscellaneous: transactions that do not fit in a ledger's specified accounts.

Edit a journal

1. Open the journal overview screen in the Finance Manager.
2. Click on the kebab menu on the top right to see More options.
3. Select Edit.
4. Edit the information you want to change.
5. Select Update.

Delete a journal

1. Open the journal overview screen in the Finance Manager.
2. Click on the kebab menu on the top right to see More options.
3. Select Delete.
4. Select Are you sure?
5. Select Confirm.