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Journal entries are used to adjust the debit and credit amounts without involving the cash or bank accounts. Hence, they are referred to as adjustment entries. To go to the Journal Entry Screen:
| 1. | Go to Gateway of Tally > Accounting Vouchers |
| 2. | Click on F7: Journal on the Button Bar or press F7 key |
For example, there may be entries made for interest accrued or interest to be paid. If a party is involved in such a transaction the entry will be:
| 1. | Debit the Party |
| 2. | Credit the Interest Account |
The entry appears as shown below:
Note: Journal entries are usually used for finalization of accounts.
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