Journal Entries

Instructions:
1. For subtitles, try clicking on the cc "closed captioning" button
2. We recommend that the video is viewed in 1080HD resolution or higher, or full screen for the best experience
3. If you are viewing this video on a mobile device, please switch over to the desktop mode to access Poll Questions.
--------------------------------------------------------------------------------------------------------------------------------------
Journal Entries

- Journal entries in LOTS are to be used to fix or update current statements, they are not to be used to make payments on account. If they are, this can cause problems with the period totals at the bottom of the statement.

- To do a journal entry, have the customer highlighted and go to Tools, Journal Entry for this Debtor. There are four different types of journal entries - Debit Account, where you’re charging the customer for something, Credit Account where you are crediting the customer for something, Zero Account and Message Only. When either of the Debit or the Credit options are selected, you are given a GST field and amount total. To avoid customer confusion, it is a good idea to write a message as to why you are making this change. Before hitting OK to save the journal entry, ensure you have the correct customer listed at the top. There is another Journal Entry option which is for All Debtors and these can be easily confused. Hit OK to apply the journal change.