Page Comparison

Manual Journal Entries vs. Automated Portfolio Postings

In Mifos X, the majority of accounting entries occur automatically based on your loan and savings product-level settings configured in Product Creation and Configuration. See also Loan Integration with Accounting.

Mifos X also supports manual entries against any general ledger (GL) account. You can manually post single journal entries or compound journal entries.

Single journal entries

To add a credit or debit journal entry, do the following:

1. On the Mifos toolbar, click Accounting to open the Accounting menu.
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2. On the Accounting menu, click Add Journal Entries to open the Add Journal Entry dialog box.
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3. In the Add Journal Entry dialog, enter your journal entry details:
   NOTE: Items with a red asterisk (*) are required.
   1. In the Office list, select the office where you want to add the journal entry.
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   2. In the Currency list, select the currency of the transaction.
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   3. Under Affected GL entries, do one of the following:
      1. To add a single credit entry to your general ledger (GL)
         1. In the Credit list, select the credit type for the journal entry.
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         2. In the Amount box, enter amount you want to credit.
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         —OR—
      2. To add a single debit entry to your general ledger (GL)
         1. In the Debit list, select the debit type for the journal entry.
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         2. In the Amount box, enter amount you want to debit.
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   4. In the Reference number box, you can enter a reference code.
      NOTE: The Reference number box is optional.
       
   5. In the Payment type list, select the payment type for the journal entry.
      Image Removed Transaction date box, click in the box and then choose the date from the pop-up calendar. Use the left and right arrow keys beside the month and year to change the month.
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   6. Under Show Payment Details, you can enter banking details:
      NOTE: Payment detail boxes are optional.
      1. To expand Show Payment Details, click the plus button (+).
         
      2. In the Payment type list, select the payment type for the journal entry.
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      3. Enter the Account#, Check#, Routing code, Receipt#, and Bank#. To collapse the Show Payment Details, click the minus button (-).
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   7. In the Transaction date box, click in the box and then choose the date from the pop-up calendar. Use the left and right arrow keys beside the month and year to change the month.
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4. Click Submit to post your journal entry.

Compound journal entries

To add a journal entry with multiple credits or debits, do the following:

1. On the Mifos toolbar, click Accounting to open the Accounting menu.
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2. On the Accounting menu, click Add Journal Entries to open the Add Journal Entry dialog box.
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3. In the Add Journal Entry dialog, enter your journal entry details:
   NOTE: Items with a red asterisk (*) are required.
   1. In the Office list, select the office where you want to add the journal entry.
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   2. In the Currency list, select the currency of the transaction.
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   3. Under Affected GL entries, add your journal entries:
      1. To add credit entries to your general ledger (GL)
         1. In the Credit list, select the credit type for the journal entry.
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         2. In the Amount box, enter amount you want to credit.
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         3. Click the plus button (+) to add another credit to your journal entry.
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         4. Repeat until you have entered all credits for the journal entry.
      2. To add debit entries to your general ledger (GL)
         1. In the Debit list, select the debit type for the journal entry.
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         2. In the Amount box, enter amount you want to debit.
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         3. Click the plus button (+) to add another debit to your journal entry.
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         4. Repeat until you have entered all debits for the journal entry.
            Tip: To remove a credit or debit, click the (x) button to the right of the entry you want to delete.
   4. In the Reference number box, you can enter a reference code.
      NOTE: The Reference number box is optional.
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   5. In the Payment type list, select the payment type for the journal entry.
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   7. Under Show Payment Details, you can enter banking details:
      NOTE: Payment details are optional.
      1. To expand Show Payment Details, click the plus button (+).
          
      2. In the Payment type list, select the payment type for the journal entry.
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      3. Enter the Account#, Check#, Routing code, Receipt#, and Bank#. To collapse Show Payment Details, click the minus button (-).
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   8. In the Transaction date box, click in the box and then choose the date from the pop-up calendar. Use the left and right arrow keys beside the month and year to change the month.
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4. Click Submit to post your journal entry.

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