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Introduction to Transactions (Journal Entries) in Standard Accounts

This section describes the Transaction register in Standard Accounts. If you are using Standard Nominal Ledger, please click here.

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You should record every accounting event as a separate Transaction in the Transaction register. Depending on the nature of an individual Transaction, you can enter it directly to the Transaction register yourself, or it can be created remotely from the Sales and Purchase Ledgers.

You can decide which Transactions are to be entered directly to the Transaction register and which are to be created remotely from other Ledgers (or "Sub Systems"). You should do this in the Sub Systems setting described here.

Typically, Transactions representing Sales and Purchase Invoices, Receipts and Payments will be generated remotely from the Sales and Purchase Ledgers. You will enter other types of transactions directly to the Transaction register: these might include bank transfers, overhead costs, salaries etc.

Before working with Transactions, you should also look at the following settings and registers:

To open the Transaction register, ensure you are in the No