How to enter manual GL account entries.

Manual GL account entries are done via the 'General Journal Entries' window. We will use an example to show how these entries are entered.

In our example, accountant Ernie Emerson wants to update the accounting books after receiving the monthly bank statement.  

The bank had withdrawn a surcharge from the company bank account.  

No check was issued to the bank, but now the GL account Named 'Bank No. 210' and the real bank account balances are different.

Ernie enters manual GL account entries to record the surcharge. Below are the two GL accounts that are involved.  

As you can see, the 'Bank Charges' is a GL Account of type 'Expense' an the Bank Account is an account of type 'Asset'.  

Here are the steps Ernie takes to record the surcharge.

First he opens the 'General Journal Entries' window.  Click the 'Accounting' menu bar and select the 'General Journal Entries' option.  

The clicked 'Accounting' menu bar is illustrated below.

The next window shows the 'General Journal Entries' window after it is opened.  The top fields are used for the transaction information.  The bottom fields are for the GL account entries.  

The middle section displays the GL account Debit and Credit entries.  The middle section has the same characteristics of a 'T' account.

The next step is to enter a description of the transaction.  In this case, Ernie wrote, 'Bank surcharges for the month of  February'.

After the description is added, enter a date.  The date entered by Ernie was the date of the bank statement: March 27, 2001.

The entered date and description are shown below.

Once the description and date are entered, it is time to enter the GL account entries.

Ernie begins by entering the expense. He enter the relevant GL account Number in the field labeled 'GL Account.'  Ernie entered '4630'.  

Next, Ernie presses the <<Enter>> button.  The GL account Name appears in the middle grey field.  This is GL account is called, 'Bank Charges'.

Next, Ernie enters the amount of the surcharge in the 'Debit' field.  

In TeemWork, expenses can only be entered as Debits. Negative numbers are used to reduce expenses.

The first GL entry is now complete, Ernie clicks the 'Add this Line' button.

The added entry appears in the middle table.  

Here is the same entry illustrated as a 'T' account.

The second entry involves the GL account named 'Bank No. 210'.  

Ernie enters '1050' as the GL Account and presses the <<Enter>> button.  The GL account Name, 'Bank No. 210' appears in the middle grey field.

The bank account is an account of type 'Asset'.  A decrease of an Asset is a Debit. It is recorded on the right hand side of the T account.  

Click here to learn when an amount is to be posted as a debit or a credit.

The two entries are shown in the next slide. As you can see, the field labeled 'Variance' equals zero.  The two GL account entries balance.  

Here are the same GL entries in the form of 'T' accounts.

Now Ernie clicks the 'Save this Entry' button. This button can only be clicked when the GL account entries balance, otherwise it is disabled. 

TeemWork then responds with a message that includes a reference number for this manual GL account entry.

Related topics:

To learn more about TeemWork accounting for checks, read 'How a Check is transformed into GL account Entries'.

For more information about TeemWork accounting for invoices, read 'How an Invoice is transformed into GL account Entries'.

Return to the Accounting FAQ page.