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Accounting Invoice #accounting Bank Analytic
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Accounting Invoice #accounting Bank Analytic
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  1. Accounting
  2. Forum

journal accounting

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Rumah Bakso , UMRI ALWI

What is the difference between general journal and adjustment journal in Odoo 14?

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John Mathews
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Hey!

Are you running a startup and looking for startup accounting services - https://www.theledgerlabs.com/startups-accounting/?utm_source=odoo&utm_medium=forums&utm_campaign=startups? If yes, then Ledger Labs, Inc can help you a lot.

Thanks & Regards

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Rumah Bakso , UMRI ALWI
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Hello
I'm trying to learn odoo

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Rumah Bakso , UMRI ALWI
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thanks for the help answer

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Jeht
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In Odoo 14, the general journal and adjustment journal are two different types of journals used for different purposes.

  1. General Journal: The general journal in Odoo 14 is used to record day-to-day financial transactions such as payments, receipts, purchases, and sales. These transactions are usually entered in the general journal in chronological order, with each entry representing a single transaction. The general journal can be used to record transactions that do not fit into any of the other specialized journals, such as the sales journal, purchase journal, or cash receipts journal.

  2. Adjustment Journal: The adjustment journal in Odoo 14 is used to make adjusting entries to the accounts at the end of an accounting period, such as at the end of a month or a year. These adjustments are necessary to ensure that the accounts accurately reflect the company's financial position and performance. Examples of adjusting entries include accruals, prepayments, depreciation, and allowance for doubtful accounts.

The main difference between the general journal and adjustment journal is their purpose. The general journal is used for day-to-day financial transactions, while the adjustment journal is used for making adjusting entries at the end of an accounting period.


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Faris Fathurrahman

how do we make adjustment journal? i mean, the step by step guide

Rumah Bakso , UMRI ALWI
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thanks for help

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