Journals and corrections

Books holds your chart of accounts, your journal and your sales tax codes. Posted entries never change: corrections are reversals, and both stay in the history.

Prepare an entry

1. In Books, open Journal entries and choose New journal entry.
2. Enter the date and a description, then add lines with an account and a debit or credit. Cite a source document if there is one.
3. Choose Save draft. Pantry refuses an entry whose debits and credits do not balance.

Receivable, payable and other control accounts post only through invoices, bills and payments, so the subledgers always agree with them.

Post it

Someone other than the preparer, holding the post grant, opens the draft and chooses Post entry. Posting approves the exact version they reviewed: if anyone edits the draft first, the editor becomes its preparer and the approval has to be given again. The owner may post their own preparation.

The entry then shows Debits equal to Credits, who prepared it and who posted it.

Correct a posted entry

Open the posted entry and choose Reverse, give the reversal a date and a reason, and choose Post reversal. Pantry posts the opposite entry, links the two both ways and keeps both in the ledger. Then prepare the correct entry as usual.

An issued invoice is corrected by a credit instead, as described in Sales and bills. A posting already matched to a bank line must be unmatched first.

Sales tax codes

Under Sales tax, someone with the post grant adds each rate your accountant confirms for your state, with the liability account it posts to. Pantry gives no tax advice and never assumes a rate.