FI- Journal Entry Posting

This section includes the following journal entry posting processes:

• Monthly Posting of Journal Entry
• Payment Entry JV against Billing ID sent by the Tax Consultant
• Journal Entry Posting for Payroll Components

FI - Monthly Posting of Journal Entry

Executed by

Accounts Executive - Receivable

Processes Triggered From

1. Student Admission – New Student Admission "(Variant)", Existing Student "(Variant)"
2. Student Transfer

Navigation

Navigation 1: Home > Accounting Module > Journal Entry
Navigation 2: Home > Sales Invoice > Connections > Journal Entry

Steps

1. Navigate to Journal Entry.
2. Select Deferred Revenue & Expense Entry.
3. Validate Entries and Period.
4. Submit the Journal Entry.

Important Notes

• Submit journal entries monthly as per revenue and discount expenses that need to be realized for the particular month.
• NOTE: Future month journal entries are not allowed to be posted and will remain in draft mode.
• For filtering invoice-specific journal entries, apply the following filters:

FI - Payment Entry JV Against Billing ID Sent by the Tax Consultant

Executed by

Finance Manager

Processes Triggered From

1. Taxation – Domestic WHT "(Variant)"
2. Taxation – WHT 26 "(Variant)"

Navigation

Home > Accounting > Journal Entry

Steps

1. Navigate to Journal Entry.
2. Select Entry Type (e.g., Bank Entry) & Posting Date.
3. Select the Debit account (WHT Tax Account) & Credit account (Bank Account).
4. Input details such as Debit & Credit Amount, Billing ID reference in the Reference Field.
5. Save and Submit Journal Entry to clear the liability.

FI - Journal Entry Posting for Payroll Components

Executed by

Finance Business Partner

Processes Triggered From

1. Payroll

Navigation

Home > Accounting > Journal Entry

Steps

1. Finance Business Partner logs into ERPNext.
2. Navigate to the Accounting module and open Journal Entry.
3. Select "New Journal Entry" and enter payroll-related transactions.
4. Specify ledger accounts, amounts, and references for accuracy.
5. Save and submit journal entries to update the General Ledger.