Journal Entry Settings

Why Automatic Journals Matter

• Ensures complete financial records

• Maintains accurate books

• Saves accounting time

• Reduces manual errors

  

Account Mapping Importance

Bank Payouts

Records actual money movement:

• Tracks incoming payments

• Reconciles with bank statements

• Monitors cash flow

Processing Fees

Tracks platform costs:

• Separates fees from revenue

• Accurate expense recording

• Proper cost analysis

Refunds

Manages customer returns:

• Proper credit note generation

• Accurate customer balances

• Clear return tracking

Final Steps

• Select the relevant options from the dropdowns to define the standard account for Journal Entries.

• Click on "Save" once done.