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Multi Journal Entries

Multi journal entries in Fiskl allow you to create multiple debit and credit entries across different accounts and currencies in a single transaction. This powerful feature is particularly useful for accountants and businesses dealing with complex, multi-currency transactions.

Why are multi journal entries important?

Multi journal entries are essential because they:

  • Allow for complex accounting adjustments in a single transaction
  • Support multi-currency entries with automatic FX rate adjustments
  • Provide a comprehensive view of related transactions across accounts
  • Streamline the process of recording complex financial events
  • Offer flexibility for businesses operating in multiple currencies

Key Features of Multi Journal Entries​

Understanding the main features of Multi Journal entries can help you leverage this tool effectively:

  1. Multi-currency support: Create entries across different currency accounts with automatic exchange rate calculations
  2. FX Auto-adjust: Easily balance your entries with the automatic FX rate adjustment feature
  3. Tax inclusion: Add tax information to relevant entries as needed
  4. Client and vendor association: Link entries to specific clients or vendors for better tracking
  5. Attachment support: Add relevant documents to your journal entries for comprehensive record-keeping

Creating a Multi Journal Entry​

To create a new multi journal entry:

  1. Select the plus icon next to "Multi Journal" in the left menu
  2. Add a name for your entry and adjust the date if necessary
  3. Select an account for the first line item
  4. Add tax information if applicable
  5. Associate a client or vendor if relevant
  6. Enter the amount in either the debit or credit column
  7. Add additional line items as needed, ensuring the total debits equal total credits
  8. Add a description and any attachments
  9. Select "Create" to save the entry
tip

Use the "Difference" feature to quickly balance your entry. Select on the difference amount to automatically add a balancing line item.

Working with Multiple Currencies​

Fiskl's multi journal feature excels in handling multi-currency transactions:

  1. Select accounts in different currencies as needed
  2. Enter amounts in the original currency
  3. Fiskl will automatically convert amounts to your base currency
  4. Adjust exchange rates manually if needed
  5. Use the "Auto-adjust FX rate" feature to balance entries with minimal differences due to exchange rates

Viewing and Managing Multi Journal Entries​

After creating Multi Journal entries:

  1. View all entries in the Multi Journal list
  2. Entries are also displayed in their respective account ledgers
  3. Select any entry to view details or make edits

Additional Actions​

  • Duplicate an entry: Open an existing entry and select "Duplicate" to create a copy with editable fields
  • Delete entries: Select one or more entries from the list and choose "Delete"
caution

Deleting a Multi Journal entry will remove all associated transactions from their respective accounts.

Filtering and Searching Multi Journal Entries​

To find specific entries:

  1. Use the filter button to sort by time period, date range, or category
  2. Use the search bar to find entries by name or other details
note

Your applied filters are cached, allowing you to return to the same filtered list. Select "Clear filters" to view all entries.

Remember, Multi Journal entries are a powerful tool for managing complex financial transactions, especially in multi-currency environments. Regular use and review of these entries can help maintain accurate and detailed financial records across your accounts.