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The general journal (transaction number prefix GJ) is the basic primitive from which all other general transaction types are derived.
 
General journal 
 
The activity allows funds to be debited/credited from one general ledger account and credited/debited to one or more other general ledger accounts. If a GST component is included in any of the line items, the relevant GST controlled account will be affected as well.
 
Unlike more specialised transactions, the general journal does not allow postings to be directed to a specific file or contact. Best practices dictate that general journals should only be posted by your practice manager or book-keeper for purposes such as entering opening balances, performing corrections and transferring funds between non-bank accounts.

GST handling

  • Deduct from transaction total
    ​By default, general journals deduct the GST component from the transaction total and debit/credit this amount to the GST liability controlled account. The net figure is posted to the account for each line item and the gross figure is posted to the account at the top of the screen.

  • Journal from provision account
    If the journal is part of a transaction pair where GST has previously been posted to the provision for GST controlled account (e.g. as happens with a Disbursement journal), you can elect to journal the GST component from the provision account instead of deducting it from the transaction total. The gross figure is posted to both sides of the transaction, while a separate transaction records the movement of the GST. In this mode, the GST policy for the account is not applied.

See also

List of transaction types