Entries other than checks and receipts that need to be posted to the books are entered as Journal Entries. By using the Journal Entry functions, you are guaranteed to post the correct “debit” and “credit” entries because SchoolFunds Online posts these entries automatically! After saving each journal entry, a Journal Entry Proof Sheet will print providing printed documentation for each journal entry posted. Once a journal entry is posted, a green check mark will display to let you know the entry was successfully posted.



Bank Interest/Other Credits

This journal entry may be used to post interest earned on a checking account and/or any interest
earned on CDs or other investment accounts. It may also be used to post other credits



Bank Charge/Other Debits
Use this journal entry to post any fees (returned check charge, monthly service fee, deposit slips) the
bank may deduct from your bank account. It may also be used to post other debits.


Returned Checks
Returned Checks Repayment “N”
When a check that was deposited is returned for insufficient funds, post this journal entry to remove
the amount of the check from your accounts.


Returned Checks – Repayment “Y”
When collecting for a returned check, use this journal entry to post the repayment amount back to the
accounts. Note: If you post a receipt for the repayment amount, do not post a Repayment “Y” JE.
Posting both a receipt and a “Y” entry will cause an out of balance situation. We also recommend
listing each redeposit on a separate deposit slip. The Returned Check “Y” JE Proof Sheet may be used
for the deposit documentation


Fund Transfer
Use this journal entry to transfer funds from one account to another. This entry will correctly post the
negative and positive transfer entries.


Multi-Fund Transfer
Use this journal entry to transfer funds from/to multiple accounts (up to six with one entry). This entry
will correctly post the negative and positive transfer entries.


Asset Transfer
Use this journal entry to transfer funds between asset accounts (Cash, Investments, CDs, or Petty
Cash). This entry will correctly post the negative and positive transfer entries


Check to Wrong Account
Use the “Check to Wrong Account” entry screen to change the account a check has been posted to in
SchoolFunds Online.


Check for Wrong Amount
Use the “Check for Wrong Amount” entry screen to correct a check posted in SchoolFunds Online for
the wrong amount. This entry is typically used to correct a manual check or to adjust the check
amount in SchoolFunds Online to match the amount that cleared the bank. In order to make this
entry, the check must not have been previously reconciled during bank reconciliation.


Receipt to Wrong Account
Use the “Receipt to Wrong Account” entry screen to change the account a receipt has been posted to
in SchoolFunds Online.


Receipt for Wrong Amount
Use the “Receipt for Wrong Amount” entry screen to correct a receipt posted in SchoolFunds Online
for the wrong amount. This entry is typically used to correct a manual receipt or to adjust a
receipt/deposit in SchoolFunds Online to match the amount that cleared the bank. In order to make
this entry, the receipt/deposit must not have been previously reconciled during bank reconciliation.


Review JEs
Review JEs provides a detailed viewing of all posted journal entries. Either click on the JE you would
like to view or use the Find button to quickly search by number, date, amount or reference. Results of
a JE search can be printed. A proof sheet for any posted JE may be reprinted from this screen by
clicking on “Reprint JE”


Void JE
This journal entry is designed to void previously posted, unneeded journal entries. The types of journal
entries that may be voided are: Bank Interest, Bank Charges, and Returned Checks. Only these types
of journal entries, posted after the last reconciled bank statement date, will be available to be voided
from this screen.