Journal entries in NetSuite are essential for recording manual financial transactions that aren’t automatically captured through standard processes like sales or purchases. To create a journal entry, navigate to Transactions > Financial > Make Journal Entries. You’ll need to enter the posting date, memo (description), and at least one debit and one credit line to ensure the entry balances. Each line must reference an account from your chart of accounts and may also include additional dimensions like department, location, or class for better reporting and tracking.
Once the journal entry is saved, it posts immediately to the general ledger unless approval workflows are enabled. Users can also create recurring journal entries for repeated transactions such as monthly rent or depreciation. To maintain accuracy, it’s best to include clear memos and supporting documentation, and use approval processes if your business requires oversight. NetSuite’s audit trail feature tracks all edits, ensuring compliance and transparency in financial reporting.