Entering or modifying accounting transactions

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Change to CS Support service hours

Our Support department is closed on Friday, April 28th for a company event. However, limited Accounting CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline for quarterly payroll tax forms.

Links to our most popular payroll tax processing topics are available in the Alerts and notices section on the right side of most pages.

Use the Actions > Enter Transactions screen to enter and modify all general ledger and payroll transactions.

Note: To limit the number of transactions displayed in the transactions list, select a primary filter (journal, posting period, or bank account) from the fields in the upper-right corner of the screen. To further limit the number of transactions displayed, click the Filter Filter button button in the upper-left corner of the screen.

The primary filter fields are located in the upper-right corner of the Enter Transactions screen. The primary filters that are available depend on the data-entry method selected (Journal or Bank Account) in the Settings tab of the Enter Transactions Options dialog.

  • The Journal and Posting Period primary filters are available when the Journal data-entry method is selected.
  • The Bank Account primary filter is available when the Bank Account data-entry method is selected.

Entering accounting transactions

  1. Choose Actions > Enter Transactions.
  2. Select the client from the drop-down list in the client selection field.
  3. In the Transaction Detail section, select the applicable transaction type, journal, and posting period. The fields and tabbed pages displayed below may change, depending on the transaction type selected.
  4. For checks, deposits, payments, and payroll checks, select the bank account in the Bank account field. For journal entries, select the journal, the posting period, and the journal entry subtype.
    • Regular
    • Adjusting. To post entries to unadjusted balances so that they become part of the adjusted trial balance, to correct an error in recorded sales, or to set up prepaid expenses.
    • Tax Adjustment. To modify the presentation of account balances to comply with taxing authority regulations. (For an 1120, 1120S, or 1065 client, you can create tax adjusting entries directly to a tax code from the Enter Tax Code Adjustments screen.
    • Reclassifying. For financial statement purposes only. Many firms use reclassifying journal entries to move amounts from one GL account to another. However, in Accounting CS, you can use it for any purpose. By default, reclassifying journal entries affect only the Report, Tax, and Other balance. But you can change this in the Setup > Balance Definitions dialog.
    • Other. For preparing financial statements on another comprehensive basis of accounting to combine with the adjusting trial balance to create the other basis trial balance.
    • Potential. To record journal entries that may be needed at a later date. Potential journal entries can easily be converted to any other journal entry type.
  5. Enter detailed transaction information in the applicable fields and tabbed pages. The available fields and buttons vary based on the transaction type selected.
  6. Click Enter to save the entry.

Notes

  • For an 1120, 1120S, or 1065 client, you can create tax adjusting entries directly to a tax code from the Enter Tax Code Adjustments screen.
  • Handwritten checks cannot be processed as direct deposit checks. If you saved a vendor or payroll check as handwritten but want to process it as a direct deposit check or payment, you need to delete the handwritten check transaction and then recreate it as an unprinted check.
  • For a vendor payment, the method selected in the vendor record determines whether the application creates a check or direct deposit payment when you enter a check transaction. To create a direct deposit allocation, the payment method must be Direct Deposit, and the Direct Deposit tab of the Vendors screen must contain valid direct deposit information with an Approved status. Otherwise the application creates a check.

Modifying accounting transactions

Follow these steps to modify a saved transaction.

  1. Choose Actions > Enter Transactions.
  2. Select the appropriate client in the client selection field.
  3. In the Transactions list, highlight the transaction to modify.
  4. Modify the transaction detail as necessary.
  5. Click Enter to save the updated transaction record.

Note: If a transaction has distributions that use a GL account that is assigned to a bank account, and the associated bank account transaction is cleared through bank account reconciliation, you can modify only the bank account, journal, and posting period for that transaction, as well as the account, description, and amount for the non-bank account related distributions.

The original transaction shares data in the Journal, Posting period, Reference, Date, and Description fields with the associated bank account transaction. Because the application synchronizes the shared data for these fields, you cannot modify the associated bank account transaction if it has been cleared, and you cannot modify any of these fields for the original transaction.

Voiding, deleting, or reversing accounting transactions

You can delete, void, or reverse individual or multiple accounting transactions at once.

Delete. When you delete an unprinted check or a journal entry, the application removes it from the database completely. When you delete a printed check or other type of bank account transaction, the application marks it as deleted and removes it from the Transactions list and all related reports.

Void. (Checks and payments) When you void a transaction, the application displays **VOID** in the Amount column of the Transactions list and adds the voided transaction amount back to the account balance and check summary memo. This provides a paper trail showing that the transaction was voided.

Reverse. (Checks and payments) When you reverse a transaction, the application creates a separate transaction with matching negative amounts and a status of "Reversal." The application changes the status of the original transaction to "Reversed."

Notes

  • You cannot void or delete any transactions that have been cleared through bank account reconciliation, but you can reverse them. To void or delete these transactions, you must first unclear the transaction in the Actions > Reconcile Impound Bank Accounts screen or the Actions > Reconcile Bank Accounts screen. If the reconciliation has been finalized, you may need to unfinalize it before you can clear the transaction.
  • If the source for a transaction (as displayed in the status bar) is Bank Account Reconciliation, that transaction was created in the Edit > Recurring Adjustment or Edit > Non-recurring Adjustment dialog, and you cannot delete it from this screen. You must delete those transactions from the dialog in which it was created.
  • You cannot void, delete, or reverse any impound payments or impound memo payments to the firm vendor.
  • You cannot modify voided check records, but you can delete them.
  • You cannot modify reversed or reversal transactions.
  • You cannot delete any transactions that have been marked to be applied in the Actions > Manage Payments screen, even if the transaction has not yet been applied.
  • You cannot reverse impound memo payments to tax and payroll agents.
  • You cannot reverse a payroll check that has been converted from Creative Solutions Accounting (CSA) if the liabilities have been generated.
  • If you delete a transaction that has been reversed, the application also deletes the corresponding reversal transaction. If you delete a reversal transaction, the application returns the original transaction to its original status.
  • If you void a transaction that has been reversed or a reversal transaction, the corresponding reversal or reversed transaction is also voided.
  • See Potential reasons that certain transactions are not available to be modified for examples of situations in which a transaction or certain fields of a transaction record cannot be modified or deleted.

Individual transactions

Deleting or voiding a transaction

  1. Choose Actions > Enter Transactions.
  2. Select the appropriate client in the client selection field.
  3. In the Transactions list, highlight the transaction to delete or void, and then click the Delete (Void) button.
  4. The application displays a prompt to confirm that you want to delete (void) the transaction. Click Yes.
  5. The application displays a prompt giving you the option to create a duplicate of the transaction. Click Yes or no as appropriate.

    Note: Because of calculation requirements, payroll checks are not eligible for duplication.

Reversing a transaction

  1. Choose Actions > Enter Transactions.
  2. In the Transactions list, highlight the transaction you want to reverse, and then click the Reverse button.
  3. In the Reversal Check Information dialog, enter the reversal check date, which must be on or after the original check date.
  4. Enter a posting period that is either the same as or after the posting period for the original transaction and then click OK.

    Note: The posting period defaults to the posting period date for the original check. The first date in the drop-down list is based on the posting period for the original check, and the last date is based on the posting period of the last period of the next fiscal year (as specified in the Period End Dates dialog).

Multiple transactions

  1. Choose Actions > Enter Transactions.
  2. Select the appropriate client in the client selection field.
  3. In the Transaction Detail section, click the Edit Multiple Transactions link.
  4. In the Edit Multiple Transactions dialog, choose the action to perform on the transactions - Void, Delete, or Reverse.
  5. If you are voiding or deleting printed vendor or payee checks, you can choose to create an exact unprinted copy of the checks you select in the Transactions list by marking the Duplicate Printed Vendor/Payee Checks as Unprinted checkbox.

    Note: Because of calculation requirements, payroll checks are not eligible for duplication.

  6. All eligible transactions are listed in the Transactions list. Select the transactions you want to act on by marking the checkboxes next to them. You can sort the transactions by clicking the column headers in the list.
  7. Click OK to perform the selected action.

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