Learn how to create a journal entry to transfer funds between property ledgers. Journal entries are commonly used to correct deposits posted to the wrong ledger or to transfer funds between properties.
Note: A journal entry cannot be reversed. To undo a journal entry, you need to create a new one to transfer the funds back to the original property.
Add a journal entry
To add a journal entry:
- Go to: The property card
- Click the Financials tab > Trust Ledger tab
- Click the Journal button (bottom left)
- Provide the following information:
- Date - Defaults to today’s date
- Type - Select the type of funds (e.g., journal, deposit, advertising)
- Amount - Enter the amount to journal (cannot exceed available funds)
- Journal to - Search for the property to receive the funds
-
Reason for Journal Entry - Explain why you are moving the funds
- Click Next when done
The Receipt/Journal Monies window appears.
- Receipt the funds into the selected property ledger
Tip: Refer to the receipting monies article (or receipting monies for New Zealand users.)
- Click Save when finished.
The journal entry will:
- Add the transaction to the selected property ledger
- Record the journal in the original ledger
What's next?
Learn how to generate and customise trust reports to access detailed financial data for your sales trust.