Journals
Journal types
The four journal types available are:
- Journal - for journal entry into the current period.
- Reversing - will enter in the current period and reverse in the next period if balances are carried forward.
- Opening Balance - the system uses this type when carrying balances forward.
- Restatement - used for prior year adjustments; the journal entry will affect the comparative column in the current year.
Entering a journal
- Batch reference - this is a user defined field and not compulsory.
- Type - you must select one journal type from the drop-down menu, the default is Journal.
- Date - this is usually left as the default period-end date.
A field with a red asterisk is compulsory, e.g. Type * Date * and Nominal analysis *
Data entry options
The 3 vertical dots allow sliders to be used to repeat the description and /or source reference, this saves time by not having to re-enter the same information.
- Source reference: enter the source reference for the row of your journal, this will repeat on the next row if the slider is selected above, it may be over typed.
- Description: enter the description for that row of your journal, this will repeat on the next row if the slider is selected above, it may be over typed.
- Nominal analysis*: to select the nominal code - enter the code, if known, or start typing in the description of the code. The chart of accounts will be filtered, you will also see current year amounts already posted to the codes, see below.
- Amount debit: enter
- Amount credit: enter
A journal must balance. The screen will display an error if out of balance and you will not be permitted to Post the journal. The waste bin icon to the right of each row allows you to delete that row.
Adding a nominal code or sub-account
Click on the "Add nominal / sub account" button which will open the window as shown below. Clicking on the (i) information button will display the message shown directly under the code box. Once the details are entered click Save or if you do not wish to proceed, click Cancel.
Posting a journal
Once complete click on the Post button - a message will be displayed to check that you wish to proceed, there is the option to cancel or post.
Saving a Journal
If you are not ready to post the journal it may be saved for posting later, by clicking Draft. A message will be displayed saying it has successfully been saved and now the word "(draft)" will appear next to "Journals" in the list to the left of the screen.
To subsequently post, click back into the screen and click on Post. You may only have one draft journal at any one time.