Journal Entry

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Journal Entry is used to adjust account balances without creating an accounting document such as a check, invoice or bill.  Most other ObjAcct entry screens only let you specify accounts and classes for the detailed distribution of a transaction.  Journal entries use a debit and credit format that give you complete control over the distribution of your entries. 

 

The Journal Entry screen will generally be used for month-end or year-end account balance adjustments.  Since Journal Entry only generates general ledger transactions, documents like vendor bills or customer invoices should be entered in Bill or Invoice/Credit Memo to ensure that vendor and customer balances are updated and the appropriate open bill or invoice is created.

 

Start by filling in the journal entry header section.  The required fields are Date and Reference Nbr.  Reference Nbr is automatically assigned when you save the journal entry.  Next fill out the journal entry transaction section.  You can enter as many transaction lines as you need.  When the total of all debit transactions equals the total of all the credit transactions you are done.   Click on the Save button in the toolbar to save the journal entry to the database.

 

The following status will appear in the Status Bar when you save a journal entry:

 

•In Balance – The sum of the values entered in Debit equal the sum of the values entered in Credit.

 

•On Hold – The Hold checkbox because you would like to enter additional information for the Journal Entry at a later time and do not want to the document to have an effect on financial reporting.

 

•Out of Balance – The journal entry is incomplete.  The sum of the values entered in Debit does not equal the sum of the values entered in Credit.  A journal entry with a status of "Out of Balance" does not update the General Ledger.  The total dollar difference between the debits and credits is displayed in the status bar.

 

•The difference between the Debit Total and the  Credit Totalis displayed beside the Journal Entry status in the Status Bar.

 

To see a list of all existing journal entries, click on the Find button in the toolbar.

 

See also Currency; Journal Entry screen.

 

Fields

 

Enter Date

 

Hold

 

Memo

 

Opening Balance

 

Originating Doc ID

 

Originating Type

 

Post Date

 

Reason Code

 

Reference Nbr

 

Reversed

 

Reversing

 

Journal Entry Transaction Section

 

 

Reporting

 

Journal Entry Report