Entering General Ledger Journals

A General Ledger Journal is used to record accruals, prepayments and adjust amounts entered against Chart of Accounts and the Property structure.
It does not involve Creditors or Debtors accounts.
A Journal can be reversed over multiple accounting periods.

Transact

Journal

Mandatory Prerequisites

Prior to entering a General Ledger Journal Transaction, refer to the following Topics:

Accounting Periods (flagged as Current and Open for the Division) - Maintaining Accounting Periods

Chart of Account - Maintaining Chart of Accounts
Chart of Account Security (All) - Maintaining Chart of Accounts Permits - All
Cost Code - Maintaining Cost Codes

Property Structure - this is a combination of Owner (mandatory), plus an optional hierarchy of Land, Building, Section, Suite and Annexe. A Lease may be nominated for the lowest entity in the hierarchy.

Screenshot and Field Descriptions

General Ledger Journals follow the Double Entry book-keeping rule of having a balanced set of entries.

On the Transaction Item fields the Black Debit entries must be balanced by Red Credit entries.

The net total must be zero.

Transaction Header fields (Top):

Transaction Date: this is the date of the transaction. Normally it must fall within the Accounting Period defined by the Year and Period.

Year: this is the Accounting Period Year.

Period: this is the Accounting Period.

The default values for Transaction Date, Year and Period come from the Accounting Period marked as Current.

Number: this is the Accounting Period Number. The combination of the Year, Period and Number constitutes the unique transaction Number.

Reference: this is a free format, optional reference entry field.

Batch: this is a read only field that displays the batch number / date of when the transaction was interfaced with another system.

Details (Header): this is a free format, optional detail associated with the whole transaction. Details for each transaction line can be entered in the Details (Line) field. The Copy Details button will move any text entered to the Details (Line) field.

Reverse: this is the options for creating reversal journals based on the journal being entered. The journal can be reversed over multiple accounting periods. Select from:

No: reversal journals will not be created.

Days: the reversal journals will be apportioned on the number of days in a period.

Periods: the reversal journals will be evenly apportioned on a period basis.

From: this is the date to create the reversal journals from.

To: this is the date to create the reversal journals up to.

Transaction Item fields (Bottom):

COA: this is the Chart of Account ID of a transaction Item.

Asset: if the transaction line is associated with an Asset, it can be optionally entered here. This will allow such transactions to be referenced in the Asset application.

Component: this is an optional Component sub classification of the Asset above.

Details (Line): this is a free format, optional detail associated with each transaction line. It will default to the value set up for the COA. Details for the whole of the transaction can be entered in the Details (Header) field. The Copy Details button will move any text entered to the Details (Header) field.

Cost Code: this is the cost centre that the amount relates to. This field can be set as optional, mandatory or not required on the COA set up screen.

Amount: this is the transaction line Amount.

Sign: this is the sign of the Amount. The default value of this field is automatic based on the COA used.

Lease: this is the Lease ID.

Annexe: this is the Annexe ID.

Suite: this is the Suite ID.

Section: this is the Section ID.

Building: this is the Building ID.

Land: this is the Land ID.

Owner: this is the Owner ID.

Transaction Items Table: this contains rows of the transaction items entered. New ones can be added. Existing ones can be deleted or changed by double clicking. Their content can be maintained in the fields on the left hand side. The items can be a mixture of debits and credits. Their combined total must be zero.

How Do I : Search For and Maintain Entities

These General Rules are described in the Fundamentals Manual: How Do I : Search For and Maintain Entities

How Do I : Add a new General Ledger Journal Transaction

There are several ways of adding new General Ledger Journals:

Manually, starting from an existing transaction and clicking the Application tool-bar push button: Template.
Manually, starting with an empty Journal.
Automatically, as a result of Journal generating applications.
Automatically, as a result of Journal import applications.

Transaction Header Fields (Top):

These relate to the whole of the transaction:

The Transaction Date, Year and Period will be automatically populated, but can be changed if required. The Number will be automatically generated when the transaction is saved.
Enter a Reference.
Enter some transaction header Details.
If this journal is to be automatically reversed over other accounting periods set the appropriate Reverse option and then enter the From and To date.

Transaction Item Fields (Bottom):

Repeat for each transaction line:

Enter a COA.
Enter an Asset and Component if required.
Change the default transaction line Details if required.
Enter a Cost Code if required.
Enter the Amount and its Sign.
Enter the Property hierarchy for the transaction line.
Click the Right Hand Side Application tool-bar push button: Add to add the transaction line to the Transaction Items table.

Final:

Click the Left Hand Side Application tool-bar push button: Add, and confirm that you wish to save the whole transaction.

How Do I : Modify an existing General Ledger Journal Transaction

Select / search for a transaction via optional combinations of Year, Period and Number.
Make changes to the Transaction Header fields as required.
For the Transaction Item fields the user has the following options:
1. Add a new line by entering in the Transaction Item fields and clicking the Right Hand Side Application tool-bar push button: Add to add the transaction line to the Transaction Items table.
2. Change an existing line by double clicking a line in the Transaction Items table, modify any of the transaction line item fields and clicking the Right Hand Side Application tool-bar push button: Change.
3. Delete an existing line by double clicking a line in the Transaction Items table and clicking the Right Hand Side Application tool-bar push button: Delete.
4. If the Transaction Item fields need to be cleared click the Right Hand Side Application tool-bar push button: Wipe.
Click the Left Hand Side Application tool-bar push button: Change, and confirm that you wish to save the whole transaction.

How Do I : Delete an existing General Ledger Journal

Select / search for a transaction via optional combinations of Year, Period and Number.
While the Left Hand Side Application tool-bar push button: Delete is available, click it and confirm that you wish to delete the record.

A General Ledger Journal can only be deleted if there are no other transactions associated with it and its Accounting Period is Open.