Add Journal

 

Note:    

 

Understanding the difference between Transaction Date and Posting Date:

 

Transaction Date is typically the source document date i.e. an invoice received from a creditor may be dated 25 September 2012.

 

The Transaction Date is then entered as 2012/09/25.

 

The Posting Date may be the same or in the case above, if the Posting Date of the invoice is to be reflected in the 10th period and not the 9th period, then the Posting Date can be entered as 2012/10/05. The entry will then be posted in the period of 201210.

 

The Posting Date will determine the period of the entry.

 

 

 

 

 

The Transaction Date will default to today's date.

The Transaction Date is a Required field ().The user selects the Transaction Date by Left Clicking on the Drop Down List Box (). When this is done a list of available Transaction Dates will be displayed. Should the user not Select  a Transaction Date  and attempts to Process () the information the system will give an indication  () that this is compulsory information.

 

The Posting Date will default to today's date.

The Posting Date is a Required field ().The user selects the Posting Date by Left Clicking on the Drop Down List Box (). When this is done a list of available Posting Dates will be displayed. Should the user not Select  a  Posting Date  and attempts to Process () the information the system will give an indication  () that this is compulsory information.

 

Enter a Reference number for the Journal Entry.

 

Note:    

If the field is left blank, the system will generate an automatic incremented reference number according to the format and sequence that was set up in Accounting>Setup>Document Numbers.

 

Previous Journal Entries can be copied and edited in order to save time and effort.

 

Refer to Copy from Previous Journals

 

Enter more detail remarks pertaining to the journal entry if neccessary.

Tick the tick box if this entry is a yearend or auditor's adjustment journal.

 

Note:    

System generated journals i.e. the journals created when year end processing is done (income and expense accounts are zeroed and offset against the Profit and Loss Account) are also automatically marked as Yearend Journals.

 

Select the Save button to save the entries without posting them. The user can then at a later stage edit / add to and post the entries.

 

Select the Process button to post the journal entries. After posting, a Print button ( ) will appear from where the journal entry can be printed.

 

Select the Process and New button to post the journal entries. The system will then not give the print option, but rather jump to a new Journal Entry screen.