What is journal entry anyway? What is double-entry accounting? And how do journal entries work in fund accounting? We’re glad you asked.
When you enter a transaction in an accounting software, including Aplos Software, a lot happens behind the scenes. Each recorded transaction follows established accounting guidelines. We’ll explain what those guidelines are and how accounts work with each other. We’ll also discuss how to use journal entries for your fund accounting and explain when you would use them. To learn more about how accounting actually works, check out this webinar.
During this session you will:
- Learn about the types of accounts and how they impact each other
- Understand the difference between single-entry and double-entry accounting
- See how double-entry accounting uses debits and credits when recording transactions in your general ledger
- Learn what happens when you enter a transaction in Aplos
- View some examples of when and how nonprofits and churches use journal entries in fund accounting
If you’d like to follow along with the webinar and take a peek at the software for yourself, you can try Aplos for free. It was created specifically for nonprofits and churches, and their unique needs when it comes to accounting and financial stewardship.