This procedure is used to create journal entries in “batch mode” without posting them to the general ledger. This option is useful if you have a large number of journal entries to process and wish to create and review the journal entries prior to updating the general ledger account balances.
1. Determine the accounts and amounts that need to be posted to the general ledger and the year and period that the entry should be posted to.
2. Verify that the transaction should be processed using the General Ledger module. Some transactions – such as those affecting accounts receivable, accounts payable, inventory and other sub-ledgers, should not be posted through the general ledger but should be processed using the appropriate module. Other transactions such as depreciation, payroll, etc can only be posted using journal entries. In general, autopost accounts should be maintained automatically by the system and should not be posted to from the Journal Entry program.
3. Select the Journal Entry View from the General Ledger Pull-down menu.
4. Verify or change the year and period to be used for the entry. The Journal Entry program will default the division, department, year and period based on the operator using the program. The operator can then change these fields as required. Note: The periods and years that the operator can post to in the journal entry program are restricted based on the Journal Entry Range restrictions that have been set up on your system.
5. Clear the “Post JE on Save” flag in the header section of the journal entry view. This flag determines if the journal entry will be posted to the general ledger when saved (item is checked or selected), or if the journal entry will be saved as a status N (new) journal entry which will be posted at a later time. The default behavior in the system is to post journal entries on – line as they are saved in the journal entry program.
6. Verify or change the division and the department to be used as the default for the journal entry. Note: Each journal entry can be posted to only one division, but each journal entry line can be posted to different departments (as long as the account is set up for posting in each department). The department shown at the top of the Journal Entry view is used as a default when you create each line. This department can then be modified as required.
7. Enter the project information to be used for the journal entry. The project field can be used to store a short text note for each journal entry line and the field can also be table driven (meaning you must select a valid entry from a list when the table is present in the system). The project field in the journal entry header section is used as the default for each journal entry line. The project in each line can differ from the header and the line item project field is controlled by the same table used for the header.
8. Enter or accept the batch number to be used for the journal entry. The batch number can be used to group journal entries together and when running reports. The batch number can also be used to select batch mode or un-posted journal entries when posting them at a later timeThe batch number is incremented each time the Journal Entry program is activated. .
9. Detemine if the journal entry you are creating should be reversed in the next period. If so, you should select the “Create Reversing Entry” option. If this option is selected prior to saving the journal entry, the system will save the journal entry you are making to the specified period and to also create another journal entry in the next period that automatically reverses the entry.
10. Create the journal entry lines for the journal entry. Journal entry lines can be created by pressing the INSERT key in the lower section of the journal entry view. This action causes the JE Line Editor to be displayed. Once the JE line editor is displayed, you may accept or change the default department displayed by the program and select the account for the journal entry line. Once the correct department and account are displayed in the program you may enter the debit or credit amount as appropriate (each line can have either a debit or credit amount – not both), update the project field as required and press the SAVE key or button to save the line. add a journal entry line, youby pressing the using the Journal Entry program. The journal entry will be posted to the general ledger automatically as the entry is saved.
11. Verify that the journal entry was posted properly (optional) - Once the operator has created a journal entry, the operator may print or display a journal entry proof to verify that the entry was posted to the proper period and accounts. Alternatively, the operator can view the journal entry using the Account Lookup screen. If an error is discovered, the entry should be voided or deleted according to the procedures described below.