Journal Entries
- Daniel Ruggieri (Unlicensed)
A journal entry is the manual creation of a transaction in the general ledger.
Instructions
To access go to accounting-> transactions-> journal entry
Transactions date will automatically get assigned upon saving the entry. This is the time stamp for the exact time the entry was created.
Work date is the date the entry will appear when viewing reporting (general ledger date). Required field.
Journal is a drop down list that allows user to pick a category for which they would like the journal to fall into. This is mostly for personal/office use. Choosing a journal does not have any action other than assigning a title that can then be searched by later. Required field.
Description is a text box that allows user to enter what the entry is. This shows on some reports (account analysis). Required field.
Notes is for any lengthier information that should be included with the entry. This does not show on most reports, but will show if the transaction is viewed individually or via “search transactions.” Not a required field.
Account Entry Section (Group, Account, debit or credit are required to make a line item):
Group is not often used in Master code, but when it is, its usually different for property tax commissions. When entering a manual journal entry, this will always be A.
Account will allow user to enter the entire account number OR a partial account number and allow user to choose from a drop down list.
Description will fill in once an account is selected.
Debit and credit are numeric text boxes to enter the amount associated with the account
Memo allows user the ability to enter information per line item on a journal entry, it is not required.
To create an entry:
Select the work date that the transaction will need to be posted into the GL.
Choose a journal category to assign it to.
Enter in the description that will be visible on reports, something that will make sense in the future.
Add a note if necessary.
Group defaults to A, begin entering and/or select account number and tab. (Ensure account name/description fills in. If INVALID is visible, the account entered is incorrect).
Enter an amount in the debit or credit column.
Add a memo if necessary.
Tab to add a new row. There must be at least 2 rows in order to create a balanced transaction.
Repeat entering account and debit/credit amount.
Add as many rows as desired until transaction is balanced (this will be noted in the bottom right corner of the screen.)
And then either “Save” if edits might still need to be made or “Save & Post”
*Other Notes: Save template button does not work at this time. In most cases, Save & Post will be used. Adding a row is done by using the tab key versus selecting button or F key.
