Use this tab to enter or edit non-check transactions and any special types of transactions, including descriptions for each debit or credit entry. Enter debits as regular amounts. The program treats negative amounts as credits, so you must press the minus ( - ) sign when you enter a credit. When entering an amount, enter the decimal manually unless you have selected the Implied decimal on amounts option in the Setup > User Preferences dialog.
Choose Transaction Entry from the Tasks menu and then click the Journal Entries tab. (Verify that the Enter multiple descriptions for journal entries checkbox is marked on the Transaction Options dialog.)
Enter the reference, date, and description for the journal entry.
Reference
Required field. Enter a reference of up to 9 alphanumeric characters, keeping in mind that reference numbers of 100 or greater are reserved for checks (unless specified otherwise in the General Ledger tab of the File > Client Properties dialog). You may use up to 7 decimal places provided that the total number of characters including the decimal is no greater than 9.
Note: To auto-increment the reference by a specified number, you may mark the Increment journal entry references by checkbox on the Transaction Options dialog and also enter the number by which to increment.
Date
Enter the date of the transaction in MMDDYY format. If you selected one of the date field options in the Transaction Options dialog, the program will enter all or part of a date for you.
Description
You may enter a description of up 120 characters for the entry. If you selected one of the description field options in the Transaction Options dialog, the program will enter a description automatically. If you leave this field blank but have not marked the option to leave the description field blank, the program automatically copies the description from the previously entered transaction.
Tip: The rows of the Journal Entry grid can be re-ordered via drag and drop. In Add or Edit mode, click the number button at the left of a row and drag it to its desired new position.
Enter the account and amount in the appropriate column.
Account
Enter the account number or choose it from the drop-down list. If you have set up multiple journals for the client, the program automatically enters the balancing entry account number on the next line.
Amount
Enter the positive or negative amount. Enter the decimal manually unless you have selected the Implied decimal on amounts option in the Setup > User Preferences dialog. For non-check entries, the program automatically enters a balancing amount on the second line.
Description
This column appears if the Enter multiple descriptions for journal entries checkbox is currently marked on the Transactions Options dialog.
You may enter a description of up 120 characters for the entry. If you selected one of the description field options in the Transaction Options dialog, the program will enter a description automatically. If you leave this field blank but have not marked the option to leave the description field blank, the program automatically copies the description from the previously entered transaction.
Choose one of the special types by selecting it from the F4 drop-down list:
- Adjusting
Marks the transaction as an adjusting entry. (Not available for a GL/Trial Balance client.)
- Prior
Prior period journal entries can only be made in prior periods of the current year. When entering prior period transactions, the balances of the accounts will be adjusted only for that transaction, nothing will carry forward and automatic journal entries will not recalculate. Also, a Memo transaction will automatically be made in the current period, but it will not be posted.
- Recurring
The same entry will be repeated in each period until it is deleted. The transaction will appear as a recurring type with the period end date as the transaction date.
- Recurring Template
Functions in the same manner as a Recurring journal entry, but the entry will appear with no amount each period and you will be prompted to fill in amounts.
- Regular (default selection)
- Reversing
The exact opposite of the transaction that you enter in this period will be made in the next period. The reversing transaction will use the period end date as the transaction date and the reference will have a .1 added to it.
- Tax Adjustment
Automatically reverses out during each period-end close if it was posted, but no reversing entry will be displayed. (Not available for a GL/Trial Balance client.)
- Budget
A budget journal entry affects only adjusted budget balances and does not flow to the bank reconciliation. (Not available for a GL/Trial Balance client.)
Reversing, recurring, and recurring template journal entries are available for selection only if you are currently in the latest GL processing period.