Journal Entries

The Journal Entries section gives you a double-entry accounting log of every financial event in Iraca — automatically generated as you receive inventory, run production, fulfill orders, and complete POS sales. No manual entry required.

What is a journal entry?

Every financial event generates a journal entry with two sides that always balance: a debit (value flowing in to an account) and a credit (value flowing out). The total debits always equal the total credits for each entry.

What events create entries

Event	Accounts affected
Stock received (purchase / adjustment up)	Debit Inventory Asset / Credit Accounts Payable or Equity
Stock written off (adjustment down, spoilage)	Debit Equity Adjustment / Credit Inventory Asset
Production started	Debit WIP / Credit Inventory Asset (per ingredient consumed)
Production completed	Debit Finished Goods / Credit WIP
Order fulfilled	Debit COGS + Accounts Receivable / Credit Finished Goods or Inventory Asset + Revenue
POS sale completed	Debit Cash + COGS / Credit Revenue + Inventory Asset

Account types

• Inventory Asset — raw ingredients and supplies on hand
• WIP (Work in Progress) — ingredient cost tied up in an active production run
• Finished Goods — completed products ready to sell
• COGS — cost of goods when a sale is made
• Revenue — sale price collected
• Accounts Payable — what you owe suppliers
• Accounts Receivable — what customers owe you
• Cash — funds received from POS sales
• Equity Adjustment — write-offs and adjustments with no external counterparty

Using the journal

Filter by type — narrow to a specific event category (stock movement, production run, order, POS session, manual entry).

Filter by account — show only entries that touch a particular account type (e.g., only COGS entries).

Expand a row — click any row to see the individual debit and credit lines with their exact amounts.

Pagination — when there are more entries than fit on one page, use the First / Previous / Next / Last buttons at the bottom, or type a page number in Go to and press Enter to jump directly there.

Export CSV — download all visible entries (respecting the current date range and filters) as a spreadsheet. Each line in the export is one journal line, making it easy to import into QuickBooks, Wave, or any accounting software.

Cost basis (AVCO)

Iraca uses Average Weighted Cost (AVCO): the unit cost on each stock movement reflects the product's unit_cost at the time the movement was recorded. This is the same cost used in the COGS report and production efficiency calculations. FIFO cost layering is planned for a future release.

Creating manual entries

Click New Entry above the journal table to open the entry form. Fill in the date, a description, and at least two lines. Each line needs an account type, a label (a short note on what the line represents), and either a debit or a credit amount.

The form shows a live Balanced / Off by $X indicator. You cannot save until debits equal credits.

Common reasons to create a manual entry:

• Opening balances — record the starting value of inventory or cash when you first set up Iraca
• Corrections — reclassify a cost that was posted to the wrong account
• Write-offs — record a loss not tied to a specific stock movement
• Adjustments — record depreciation, prepayments, or other non-inventory events

Manual entries respect period locks — you cannot post to a closed period.

Voiding an entry

To void a posted entry, expand the row and click Void, or click Void directly on the row. Confirm the prompt. The entry is marked Voided and shown with a strikethrough. It is excluded from the trial balance.

You cannot void an entry in a locked period. Unlock the period first, void the entry, then re-lock if needed.

Voiding does not create a reversing entry — it simply marks the original entry as cancelled.

Missing entries

An entry is only created when a unit cost is available on the product at the time of the event. If a product has no unit cost set, journal entries for that product will be skipped (the inventory/order operation still completes normally). Set unit costs under Inventory → Products to ensure full coverage.