This module will be used primarily to post values to accounts that are not updated during regular system processing. Some examples include depreciation, accruals, and other accounting type entries not automatically generated through the use of the system. You will make both the debit and credit side entries in this module and debits must equal credits before you can exit this module. Please Note: To complete the posting process and update the General Ledger Accounts, the system requires you to run the report module Print Journals/Update General Ledger (explained below). When you enter this module, the screen will appear as follows:
The system will place the cursor in the Posting Period (1) field, which defaults to the earliest period open in the system. You can type in a new Posting Period or accept the current period. At the Acct Num (2) field, you can type in the applicable account number or click the button to call up a G/L Account Selection screen. In the Refer.(ence) (3) field, type a brief reference for this journal posting or your initials. In the Comment (4) and Comment 2 fields, type a descriptive comment/reason for this journal entry. The Date (5) field will default to the current date. To make a change, click on the calendar down arrow to make another date selection. At the D/C (6) field, select a “D” (debit) or a “C” (credit) for the entry. In the Amount (7) field, enter the amount of the journal posting. If all data looks correct, click the Add button. (If “Update Job Cost Detail File?” prompts, see details following the Edit & Delete options below.) The journal entry line will appear in the screen below as follows:
The Refer, Comment, Comment 2, Date, and Amount fields in the top screen will retain the data from the entry that was just added in preparation for you to make the offsetting entry or entries. If you need to edit or delete the journal entry line, right-click on the line to call up the Edit and Delete options. If you select Edit, a new screen will appear as follows:
From this screen, you can change any field and then click the Save button to continue.
If you have enabled the Job Cost Detail from A/P control in the System Control 1 screen of the System Control Maintenance module, the system will prompt the following:
This is the same feature found in the A/P Open Item Maintenance module and works the same way. If the journal entry corresponds to a specific Job in the system, you can use this feature to send job cost information to two modules in the Job Cost menu. They are Costs By Source View/Print and Billed vs. Unbilled – Costs From A/P. See the Job Cost section of the manual for details on those modules. To update Job Cost, click the “Yes” button. Type the job number in the next prompt and hit enter. The system will perform internal procedures and place the cursor back in the Acct Num field.
Once the first journal entry is posted correctly, you are ready to post the offsetting entry or entries. The Total Posted box at the bottom of the screen will keep up with the debit and credit amounts as follows:
If there is a value in the Diff(errence) field, the Save button at the bottom right of the Journal Posting screen will not be available until your Debits equal your Credits and the Diff field is 0.00. Continue to edit, delete, or add journal entries until you have reconciled the difference.
There is also a Reverse Entry (8) (in the main screen shot above) checkbox option in this module to allow for auto reversal of accounting accruals or other items that you want to automatically reverse in the next period. This feature is intended for accruals such as work in progress. In instances like this you want the entry posted in the current month and then automatically reversed out of the following month. Please Note: this process will always default to the next open accounting period. For example, for period 1, the reversal will prompt for period 2, however you can override to a later period where applicable. Once you have added your journal entries, prior to clicking the Save button, check the box next to Reverse Entry and then click Save. The system will prompt the following Reverse Entry Edit screen as follows:
Check the reversing entry data in the screen above for accuracy and make any changes or add any additional notes in the Comment 2 field. Click the Save button to complete the process. Important Note: Unlike the text screens, the new process doesn’t save your work until Save is clicked.
Please Note: At some point after activity has occurred in the Journal Posting module, when you are ready to send your journal entry postings to the General Ledger and see them reflected in company financials, you will need to run the Print Journals/Update General Ledger report module accessed from the General Ledger Reports menu. Any journal entry postings entered in this module will appear on the General Journal report.