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The General Ledger is the heart of any accounting system. You can run your entire business solely with just GL entries. For some businesses, this may be all you need. The PhreeBooks accounting module is a double entry system, every entry against an account must have an opposing entry to another account.
Entries can be made directly into the general journal. However, most entries are handled in the background as through the system scripts.
- The journal must be in balance before the entry can be posted.
- The accounts selected must be a valid entry from the chart of accounts.