General Ledger Journal Details

General Ledger Journal Details

Purpose

This may be required from time to time to correct General Ledger coding errors, add accrual entries etc.

Timing

Usually processed after the General Ledger Month End

Access

  1. General Ledger | Enter Journals

Process

The following dialog displays

Field
Explanation
Jnl Reference
Enter here a unique Reference for your journal.  This may be a manual journal page number, or any other reference system your accountant may have set you up with.  This will print on the journal header when printing GL Journal Reports.
Jnl Description
Enter here a Description of what this journal is for.  This will print on the journal header when printing GL Journal Reports.
Value Date
Enter the date the journal is to be effective for.  Journal entries may be back dated to prior months.  It is also possible to forward date a journal into a future reporting period.  
Currency
[F2] to  the Currency that is to apply to this journal 

All entries making up this journal have to belong to the same currency
Company
[F2] to  the Company that is to apply to this journal 

All entries making up this journal have to belong to the same company
Total
The system will keep a record of the running Total of each transaction line making up this journal entry batch.

This must have a value of 0.00 before the batch can be saved. 

If the batch does not add to 0.00 you cannot  out of this dialog. 

Entries must be corrected or new entries added until the Total is 0.00.
Auto Reverse
If this item is checked, then the system will Automatically Reverse the General Ledger Journal entered. 

The same GL codes will be used, all amounts will be reversed and the value date of the journal will be the 1st of the month following the month of the original entry. 

So if the original journal was dated 31/03/25, the reversing journal would be dated 1/4/25

The GL Journal Entry Process does allow intercompany journals, but does not allow inter currency journals.  These must be undertaken as Cashbook Journals. 

An example completed dialog would look like:

Once the Journal Details dialog has been completed:

 to enter each new journal line


Field
Example
GL Code
[F2] to  the GL Code or enter the GL Code required
Company
This will default to the Company entered on the General Ledger Journal entries dialog.  It can be changed to a different company if an inter-company journal is to be processed.
Amount
Enter the Amount in this field 

Credit amount will be entered with a leading – (minus sign)
Reference
Enter a meaningful Reference for this journal entry line

That reference will print beside that entry on the GL Transaction report
Description
Enter a meaningful Description for this journal entry line

That description will print beside that entry on the GL Transaction report.

E.g. Completed Journal Line




Repeat this process to add the other journal entry line item(s):


 
Note: the Total amount MUST be 0.00


Note: Once the Journal is saved, the selected GL Codes are automatically updated with the journal entries

No further posting is required

Reprint the trial balance for the period

Note: If the Auto Reverse check box was checked on, the following message will display on :


 to continue
If the Journal total is not 0.00 or the following error displays on :


Click  and review the entries. Once the error(s) is identified, select that line(s) and 

Update the Amount and 

Confirm the total is now 0.00

The Journal balances so 




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