How do I create a journal entry in Traction?
In this article, we'll walk through the process of adding a $0 transaction that will serve as your journal entry.
📝 In general accounting terms, the journal entry will be entered as a $0 payment. You enter a positive amount for any debit and a negative amount for any credit.
🤔 If you are attempting to enter your depreciation information and are unsure about what values you should use, please speak with your accountant.
In this example, we will walk through creating a journal entry for Accumulated Depreciation of Farm Equipment and Buildings & Structures.
1. Open up your Account Register with checking account that belongs to the entity you need to make the journal entry for. Click on Add New Payment.
2. In the new payment screen, you will add information for three rows, creating a $0 transaction that will adjust the balances for each of their respective accounts.
| Depreciation Expense | +100,000 (Debit) |
| Acc Depreciation Buildings & Structures | -60,000 (Credit) |
| Acc. Depreciation on Farm Equipment | -40,000 (Credit) |
3. Review the transaction information and click Save & Close. You will receive a warning asking you if you are sure you want to enter a $0 transaction. Click Yes.
Now you should be all set with this particular journal entry. Repeat the process as needed.