This is an extremely important report module. At the end of the day, after all daily processing and reports are completed, run this report module to send all activity to the system General Ledger. This includes any entries made in the Journal Posting module and any recurring entries or journal postings and transfers made from the Bank Reconciliation module. When you are updating all Journals at once, no other processing should be done in the system or you will risk losing data to the G/L. The report module will print nine possible Journals depending on the type of activity that took place during the day. For example, if any Invoices or Credit Memos were processed, this module will produce a Sales Journal recapping that information. For a detailed list of Journals, please review the Account Detail Inquiry section above.
Please Note: A Journal will print for each period if more than one period was impacted during daily processing. For example, if you posted one Invoice to period 7 and another to period 8, the system will print a Sales Journal for period 7 and a separate one for period 8.
When the Journals have printed, you need to inspect each thoroughly to make sure they are all in balance. If any are out of balance, you need to correct the problem as soon as possible. When printing the Journals, you can update all Journals at once or just one Journal. For example, if you make a general journal posting and wish to see that reflected in your financials immediately without updating all Journals, you can select to update just the General Journal to see those changes. When you enter this module, the screen will appear as follows:
The cursor will be positioned at the Journals (1) field and the default will be to print All Journals—meaning all Journals with activity since that last time the G/L was updated. Use the drop-down arrow to select a specific Journal to print, when applicable. To exit without printing, click the Cancel button. When you have made your selection, click the Print button to continue. The Journals will begin printing and the system will prompt the following:
Prior to clicking the Yes button, look over all the printed Journals. If any of the Journals were jumbled in the printer or if you notice any incorrect our out-of-balance information on one or more of the Journals, you need to click the No button. You will then need to correct any issues and start the print process again. Once the journals are in good fiscal condition, click the Yes button at the prompt. AGAIN: No information will report to the system General Ledger until you respond with a Yes at this prompt.