thumb_up
thumb_down
link
Copy link
Copied
insert_emoticon
lmatfy
Copied

Fixed journal entries

You use fixed journal entries for journal entries that are the same each period, such as depreciations (if the Fixed Assets component is not used) and the leasing of buildings and equipment. You record a fixed journal entry once and Profit subsequently generates journal entries in the periods you specify.

Description

A fixed journal entry is a template for generating journal entries in the ledger The fixed journal entry itself does not end up in the ledger. Profit only adds the journal entries to the ledger when the entries are generated.

A fixed journal entry always has a starting year and period. During the generation process Profit places a journal entry in each period starting with the ‘starting period’. If your financial period table is based on months, a fixed journal entry will therefore be created for each month.

Note:

  • You can only use ledger accounts in the fixed journal entry. It is therefore not possible to enter an invoice while adding a fixed journal entry.
  • You cannot create a project entry directly from the fixed journal entry.
  • A fixed journal entry will only be automatically generated once for the period in question. If you delete an automatically generated fixed journal entry, this journal entry will never again be automatically generated. In that case, you have to enter it manually.

Preparation

Procedure

Also see

Process

Fixed journal entries