Journal Entries
A journal entry is used to record a business transaction that increases funds in one account (credit) and decreases funds in another account (debit) without cash being received or a check being written.
Journal Entry versus Budget Amendment
| Situation | Journal Entry | Budget Amendment |
|---|---|---|
| Correct the recording of a receipt or disbursement transaction | X | |
| Charge (debit) the recipient of goods or services and credit the provider | X | |
| Move funds between GEF accounts (must balance to zero) | X | |
| Establish or change a budget in a non GEF account | X |