Journal entries

Most entries are made for you by invoices, payments and stock documents. A Journal Entry is for everything else: bank charges, moving money between your own accounts, accruals and corrections.

Before you start

• You need the Accounts User or Accounts Manager role.
• Know which accounts to use. If you are not sure, ask your accountant before you submit.

The one rule: debits equal credits

Every journal entry has at least two lines. The total of the Debit column must equal the total of the Credit column. OLY ERP will not let you submit if they differ.

Steps

Example: the bank statement shows a bank charge of 250 ETB on 2026-09-30.

1. Go to Accounting in the sidebar and open Journal Entry, then click + Add Journal Entry.
2. Select the Entry Type. For this example choose Bank Entry.
3. Set the Posting Date to 2026-09-30.
4. In the Accounting Entries table, add the first row: Account = "Bank Charges - EF", Debit = 250.
5. Add the second row: Account = "Commercial Bank of Ethiopia - current account", Credit = 250.
6. For bank entries, enter the Reference Number and Reference Date from the bank statement.
7. Write a short User Remark, for example "Bank service charge, September".
8. Click Save. Check that Total Debit equals Total Credit.
9. Click Submit.

Entry types

Good to know

• Do not use a journal entry for customer or supplier payments. Use a Payment Entry, so the invoice is marked as paid.
• To fix a submitted journal entry, Cancel it and Amend. Do not make a second entry that "reverses" it unless your accountant asks you to.
• Rows that use a receivable or payable account need a Party Type and Party (customer or supplier).
• Write a clear remark. In six months nobody remembers why the entry was made.
• Your accountant should review journal entries during the month-end check.

Related

• Chart of accounts
• Bank reconciliation
• Draft, submit, cancel and amend documents
• Month-end checklist