General Journals
General Journals - need to know
You can create, memorize, import, and copy journal entries.
Debits and credits can be applied to any GL account.
Journal by Customer or Supplier
To simplify trading partner transactions, you can debit and credit Customers (accounts receivable) and Suppliers (accounts payable).
General Journal Fields
| Fields | Notes |
|---|---|
Ref # | Auto-generated reference number. |
A/C Memo | |
Status | The status of the Journal Entry. |
Date | The effective date of the Journal Entry postings. |
Owner | This is the Worker that owns the Document. By default, this is the name of the Worker that first created the Document. However, the Owner can be re-assigned at any time. The list of Owners is the current list of Woekers that have login permissions. |
Currency of Values | The currency of the values you enter into the Credit/Debit columns. If the currency selected is not the base currency, the Exchange Rate field becomes editable and can be set accordingly. |
Exchange Rate | The Exchange Rate of the specified currency. If the base currency has been selected this field is set to 1.00 and is non-editable. Otherwise, the field can be set to the appropriate Exchange Rate. |
Create a General Journal entry
Accounting>General Journals>+
Notice you can:
Set a Currency on the Journal.
Record notes (on the Information tab)
Set classifications on the journal.
Save the Journal as 'Pending' (not posted)
Copy a Journal
Memorize a Journal
Add Debits and Credits
Click 'Find' on the row.
Notice the selector has two tabs,
Account
Customer/Supplier. To simplify trading partner transactions, you can debit and credit Customers (accounts receivable) and Suppliers (accounts payable).
Start typing the name of the Account or Customer or Supplier you want to add.
Select the GL account or trading partner.
Complete the Debit and Credit balances for the selected account(s).
Save the journal.
You can save the journal as ‘Pending’
Reverse a General Journal entry
Locate the General Journal and click ‘Reverse Entry’.
Import General Journals
Use this function to bulk import journal entries.
Go to Setup>Import Data>Upload Journals
Import Template Fields
| Column Name | Notes |
|---|---|
Account/TP | The name of the GL Account or Trading Partner (Customer, Supplier, or Worker) |
Type | Types are:
|
Ref # | Unique ID assigned by the System. |
Status | Pending or Posted |
Owner | User/Worker |
Currency | i.e. USD |
XRate | The current X Rate. |
Memo | A/C memo |
Line Memo | On the Line Item |
Debit | Balance |
Credit | Balance |
Class 1, 2, 3, | For Reporting |
Memorize a General Journal
This function is useful if you want to set up a recurring journal. The system will automatically create and apply the journal based on the parameters you set on the memorized transactions.
See ‘Using memorized transactions'.
Copy a General Journal
Locate the General Journal and click ‘Create Copy’.
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