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Sales Trust - Creating a Journal

  • Updated

A journal can be used for a variety of reasons, however commonly moving funds from one property to another. An example is if a deposit had been receipted against the incorrect property ledger - Instead of reversing the transaction, we can simply use the journal function to move the deposit to the correct property ledger. Below is an outline of how to create a journal from the property trust ledger.

Step by step

1. Navigate into the example property > Financials tab > Trust Ledger tab 

2. Once in the ledger, click on the Journal button

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3.  The below journal screen will then appear, where you are able to enter the journal details, including:

  • Date: - This will default to today's date
  • Type: - Whether you are journaling deposit or advertising monies
  • Amount: - The amount you are wanting to journal (This cannot be more than your available amount)
  • Journal to: - Search for an existing property to journal the funds to
  • Reason for Journal Entry? - Provide your reasoning as to why you are journaling the funds

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4. Click Next once you have added the above details

5. This will then open the Receipt/Journal Monies window, where you are able to receipt the journaled funds into the selected property ledger chosen in step 3. Here you are able to enter in the receipt details as per the instructions provided via the Sales Trust - Receipting Monies or if in New Zealand - NZ Sales Trust - Receipting Monies knowledge articles.

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6. Click Save once you had added your receipt details

7. This will then populate the transaction in the selected property ledger and record the journal in the current ledger as per below: 

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A Journal entry cannot be reversed as you will need to journal the funds back to the original property in order to reverse the transactions.

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