Glossary
Journal entry
A journal entry is the record of one financial event with its date, naming the accounts debited and credited and the amount.
What it means for a shop owner
Every sale, purchase and payment ends up as one or more entries in the books. In good software the entry comes from the invoice by itself, so you only write one by hand for a special correction. Keeping the original and reversing it on a mistake leaves a clear trail instead of an erasure.
A worked example
Buying goods for 400 on credit: debit stock 400, credit suppliers 400.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes