The transactions related to the write offs and adjustment records can be posted in Adjustment Journal. Adjustment journal can be posted any time through out the year and more at the end of the financial year to adjust the balance and tally the balance sheet.
To create or modify the Adjustment Journal, go to Accounting menu and click on "Adjustment Journal" menu command.
Follow the steps below to create Adjustment Journal.
1. Journal number and journal date will be generated automatically. You can manually change the journal date to something else if required.
2. Next step is to select one or more ledger accounts. Click "Select Ledger Account" button to select the ledger accounts from the list. For each ledger account, you need to click on "Select Ledger Account" button. For each ledger account, please specify the debit or credit amount. Automatically the account code will be fetched.
3. Reference number is optional but you can mention your communication as a reference like through email, call, chat etc. anything that you prefer. Reference date will be displayed as today's by default. You can change it to something else if required.
4. You can select the reference type from the drop down list towards which you are posting the adjustment journal.
5. Optionally you can mention the additional details in the notes text box if required.
6. Verify all the details and click Save button.
Once your data entry is complete, click Save button.