Journal Entries are recorded on a double entry system ie debit and credit concept. In order to record a journal entry the following steps need to be followed.

â–º Enter the Journal entry number

â–º Enter the Date of transaction

â–º Enter the Debit item (as per the golden principles of accountancy)

â–º Enter the corresponding GL folio number

â–º Enter the Debit amount

â–º Enter the credit item(as per the golden principles of accountancy)

â–º Enter the amount in the credit column

â–º Provide a brief description of the transaction

â–º leave a single line before next transaction