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Journal Entries

Journal entries are used to correct an existing entry within the general ledger or to create a new entry to reflect transactions which fall outside of normal business activities. Journal entries can also be used to record non-cash expenses that occur over time, record opening account balances, depreciation, sales of assets, and year-end adjustments, etc.

Definition: Standard Journal Entries are journal entry templates that can be used as many times as you want. Once a standard journal entry has been created, it may be used by selecting it from the Journal Entries menu, when adding a journal entry. See Standard Journal Entries.

Available Actions

Using

Adding

Changing

Printing

Voiding

Viewing

Journal Entry Fields

Number	The reference number of the journal entry – automatically assigned as the next available journal entry number. The word NEW will appear when adding a new journal entry until the journal entry is added to the system
Desc	A short description of the journal entry.
Date	The date of the journal entry. They system default for this field is today's date.
Period	The accounting period the journal entry will post to.
Year	The accounting year the journal entry will post to.
Reversing	A yes or no flag that indicates whether the journal entry is an automatically reversing entry. A reversing journal entry is a journal entry that automatically posts a reversal of that entry into the following period.
User	The user id for the user that created the journal entry. This field will only show if viewing an existing journal entry.
Acct	The account to debit or credit as part of the journal entry. F3 shows a list of all accounts.
Debit	The debit amount for this account on the journal entry.
Credit	The credit amount for the account on the journal entry.
CC	The cost center associated with the journal entry. If there is only one cost center, or a cost center has been set as a default, it will automatically display in this field.
Description	A short description of the journal entry. Press Enter and the description you entered in the Desc field will default into this field.
Short	The difference between total debits and total credit. (Appears after all fields have been entered).
Total	The total debit and total credit balance entered. (Appears after all fields have been entered).

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