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As we all know a Journal Voucher is a transaction record that shows the flow of money from one account to the other within your Chart of Accounts. There are 5 globally known Account Types in which your chart of accounts should have:
  • Assets
  • Equity
  • Liabilities
  • Revenue
  • Expenses
Each Account type has its own nature wherein it determines how the transaction would be financially recorded.

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Debit & Credit:

A debit is an entry made on the left side of an account. It, either increases an Asset or Expense Account or decreases your Equity, Liability, or Revenue Accounts. A credit is an entry made on the right side of an account. It either increases Equity, Liability, or Revenue Accounts or decreases an Asset or Expense Account. With the above statement we would understand how to add a manual JV easily. Back Office → General Ledger → Add New Example for Maintenance Payment “Expense” JV from the hotel’s main Safebox “Asset”: