The Journal Entry can be set up in the following ways:
- Go to Cash Management / Journal Entry
- Select the Vendor and click on the Enter button. You may want to create a vendor called Journal Entry. Having a vendor is just for reference and can also be used to find using the Search function.
- Attach any backup to this entry if needed by using the Choose Files button.
- Reverse or Repeating Entries:
- You can setup this entry to Reverse by changing the Reversal dropdown from No to Yes. To reverse, choose the dates of the first entry, then the reversing entry.
- Or, you can setup this entry to Repeat. A repeating entry will post monthly on the calendar date you selected. For example, if I change this to Yes, then select 1/31/21 as the Date, it will post on the last day of each future month. It will also ask for a Repeat Thru date. You can either leave this as No End Date, or enter a date you wish this to stop automatically posting.
- If you do not want to enter a reversing or repeating entry, just enter a date for the entry and an Accounting Period. The Accounting Period is the month's financial you want this reflected in.
- Debit Account: Select the COA(s), enter a description, and an amount. To complete the transaction, select the Add and Close button. This process can be done for multiple COAs and amounts.
- Credit Account: Select the COA(s), enter a description, and an amount. To complete the transaction, select the Add and Close button. This process can be done for multiple COAs and amounts.
- Note: The debit and credit total amounts must match in order to save this transaction.
- Click on the Save & Close Button
IF PRO TIP: If you enter an entry to repeating, and need to edit or delete the repeating transaction, do so by going to Cash Management / Journal Entry / Then select View Repeating Transactions on the top right.
To import a journal entry, go to Cash Management / Journal Entry
Click on Import button
Download a sample file
Enter all the details in the template. The column headers display what information is needed like Date, Accounting Period, EHID, COA, Description, and Amount.
You can import multiple journal entries for multiple hotels all at once. If an entry has the same Vendor Name, Date, Accounting Period, Hotel ID and Internal Note, Inn-Flow will consider that one journal entry.
All Positive amounts entered will be considered as Debit amounts and all negative amounts will be considered as Credit amounts.
Once you have filled all the values in the excel sheet, click the Choose File button to select the file and click Upload.
All the data entered in the excel will be displayed on the page along with the errors highlighted in red.
Once you resolved all the red highlighted errors, click on the Save and Close button.
Now you will be able to see the imported transactions via recent transactions in journal entry or the search page
Attached is a sample Journal Entry Import template for reference.