If you have your bank accounts and/or credit card linked to Hurdlr, you should be categorizing your transactions directly in the Transactions Dashboard. From this Dashboard, as well as the Money Out & Money In screens, you’ll be able to categorize transactions to the appropriate GL accounts such as categorizing a transaction in the Money Out Dashboard as an Asset purchase. Categorizing your transactions will automatically update your General Ledger and Balance Sheet accordingly but still allow you to clearly see which bank transactions link to which accounts.
Please consult your bookkeeper or accountant before making manual journal entries. You can even invite your accountant to make manual journal entries on your behalf.
To Add a New Journal Entry
There are times when you might need to make a manual journal entry to account for something that is not an Expense or Income transaction, and that did not originate from a bank or credit card account.
There are 2 ways to do so:
From the Journal
From the Journal
On the web app, clicking Accounting on the left side of the screen and select Journal
Click ‘+ Add Entry’ in the top right corner
Enter the entry details
Click ‘Save’
From the General Ledger
From the General Ledger
On the web app, clicking Accounting on the left side of the screen and select 'General Ledger'
Click '+Add Transaction' in the top right corner
Select 'Journal Entry' from the list of options
Enter the entry details
Click ‘Save’
To Delete a New Journal Entry
If you made a mistake while entering a manual journal entry, you can delete the manual journal entry that you made.
If you previously edited your journal entry, deleting the journal entry will also remove any entries that accounted for the edits.
There are 2 ways to do so:
From the Journal
From the Journal
On the web app, clicking Accounting on the left side of the screen and select Journal
Click on the manual journal entry that you added
In the expanded view, click ‘Delete Journal Entry’ (this will permanently delete this manual journal entry)
Click ‘Yes’ to confirm that you want to delete this journal entry
From the General Ledger
From the General Ledger
On the web app, clicking Accounting on the left side of the screen and select 'General Ledger'
Click on the manual journal entry that you added
In the expanded view, click ‘Delete Journal Entry’ (this will permanently delete this manual journal entry)
Click ‘Yes’ to confirm that you want to delete this journal entry
Hurdlr will automatically make a corresponding journal entry as you tag your income and expenses, so it’s not possible to delete journal entries tied to a transaction. If you need to change these entries, you would need to edit the original income/expense transaction, which would create an updated GL entry.
Recurring Journal Entries
In addition to creating one-off manual Journal Entries, you can create recurring Journal Entries. Recurring Journal Entries are useful for recurring entries/adjustments that need to be made that aren’t transactions that flow through your linked accounts, e.g. depreciation.
To create a recurring Journal Entry:
Navigate to the Journal
Click +Add Entry’
Choose the Frequency of the Journal Entry
Enter the entry details
Click ‘Save’
To edit a recurring Journal Entry:
Navigate to the Journal Dashboard
Click on the Journal Entry that you want to edit
Change any necessary fields
Click ‘Save’
Confirm whether you’d like this change applied to just this one Journal Entry or for all future Journal Entries
To end a recurring Journal Entry:
Navigate to the Journal Dashboard
Click on the most recent occurrence of the recurring Journal Entry that you want to end
Change the Frequency field to ‘One-Time Journal Entry’
Click ‘Save’
Editing the frequency of a recurring journal entry will not delete any past recurring Journal Entries. It will just stop new Journal Entries from being created moving forward.