Journal Entry
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A journal entry, is a logging of transactions into the accounting general ledger. The journal entry can consist of several transactions, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced".
Journal entries can record unique items or recurring items such as depreciation, bond amortization, or year-end adjustments.
Contents
Journal Transaction Screen
Select GL -> Journal Transaction. (Requires Security System: GL -> Journal Transaction -> View)
Journal Transaction Menu Options
- Search - Load an existing journal
- Add - Create a new journal
- Delete - Delete a journal
- History - View an activity/transaction log for the currently selected journal
- Exit - Close the window.
Create a Journal Entry Manually
Depending on the General Ledger Type, a debit can either increase or decrease the GL Account
- Debits are entered as a positive value: Example: $500.00
- Credits are entered as a negative value: Example: $-500.00
Each journal is entered as a single-sided transaction, with the sum of the transactions displayed as the session balance.
- Select G/L -> Journal Transaction.
- Enter the Date.
- Enter the G/L Number. (Enter * then press the Enter Key to search for an existing general ledger account)
- Enter the Sub G/L Code. (applicable only if G/L requires a Sub G/L)
- Enter a Description.
- Enter the Amount of the journal.
- Select Accept
- Select Add to enter the offsetting journal(s).
- Enter the Date.
- Enter the G/L Number. (Enter * then press the Enter Key to search for an existing general ledger account)
- Enter the Sub G/L Code. (applicable only if G/L requires a Sub G/L)
- Enter a Description.
- Enter the Amount of the journal.
- Select Accept
- Verify This Session: Total is $0.00.
- Select Exit.
Create a Journal Entry Using an Adjustment Option
There are a number of adjustment wizards which will create journal transactions automatically
