ADD/EDIT A JOURNAL ENTRY

Transcription

1 ADD/EDIT A JOURNAL ENTRY 1. In Intacct, journal entries are posted into specific journals, which function to categorically separate different types of journal entries. Journal entries can post to any of the system dimensions, and post in real time. To create a journal entry, navigate to General Ledger Journal Entry. 2. Unlike most transactions in Intacct, selecting the journal entry from the application bar menu will not actually open a list of the journal entries. Instead, it opens the Journals list screen. From here you will need to click on the Transactions link next to the journal in which you wish to create the new journal entry. 234

2 3. Opening the transactions of a journal will display a screen named [Journal Symbol] Journal Transactions. This is the list of journal entries within that journal. To edit an existing journal entry, click the Edit link next to the journal entry. To add a new journal entry, click the Add button. 4. The [Journal Name] Journal Entries screen contains the information needed to define the journal entry including the posting DATE, a DESCRIPTION, and the line item Entries section. There is no numbering sequence for Journal Entries other than a sequential numbering created by the system for the particular journal the entry is posted in. When creating a new journal entry the system automatically generates a journal entry number for the entry. If the journal entry should tie to an external number, the REFERENCE NUMBER field can be used. 235

3 Field Type Note TRANSACTION NO Auto fill The transaction number is created by the system when the journal entry is first saved. JOURNAL Auto fill / Dropdown list The journal in which the entry should post. If you navigated through the [Journal Symbol] Journal Transactions screen in order to create the journal entry, this field is hidden and automatically populated with the applicable journal where the entry was added. The field only appears if you opted to use the orange add button shortcut associated with the Journal Entry item on the General Ledger drop down menu (as shown below). In this case, you must manually define the appropriate journal for the entry using this field. 236

4 Field Type Note DATE Date Enter the GL posting date for the journal entry. Depending on system configuration settings, journal entries can be past and future dated. If a journal entry is dated in the past but the books are closed for that period, the system display an error and the date will need to be changed or the books opened before posting. REVERSE DATE Date A journal entry may optionally be set to automatically reverse on a specified date. If you wish the journal entry to automatically reverse, select the date for the reversal here. If you do not want the journal entry to automatically reverse, leave this field blank. The reversing entry is created immediately upon saving the original journal entry, but it has a future posting date. This means that when running a report as of a future date, the reversal is already included in the report. You do not have to wait for the actual date of the reversal for the entry to be created. DESCRIPTION Text You must enter a description for the journal entry. Besides the sequential transaction number provided by the system, this is the main identifying field related to the journal entry. COMMENT Text If you need to make a comment about the journal entry, you can enter it in this field. Your comment would be added to the history for this transaction. REFERENCE NUMBER Text If you need to tie the transaction to some outside document or reference, you may enter a reference number in this field. SOURCE ENTITY Drop down list If creating a journal entry at the root level of a multi entity company, you can define the source entity for the transaction. As noted on the journal entry screen, a source entity is only required if the journal entry does not balance by entity. ATTACHMENT Drop down list You may attach a document of any file type as support for the journal entry. See the Attachments section for more details. 5. In the Entries section you can define default dimensions and other data for the journal entry. Doing so ensures that all lines of the journal entry are associated with the same information, which can save time and reduce errors. Set default dimensions by clicking on the Show defaults button located on the left side of the Entries section of the journal entry. The defaults section will display with fields for each of the dimensions, along with fields for memo, ALLOCATION and multi currency data (if working in a multi currency environment). Select the defaults using the drop down list in each field as needed to associate all lines of the journal entry to the desired dimension, allocation, transaction currency, etc. 237

5 6. Once you have selected the dimensions that should be defaulted to all lines of the journal entry, click the Apply defaults button. A warning message will appear warning you that the dimensions selected will override all line items currently coded. Click the OK button to continue. 7. In the Entries section, enter the individual lines of the journal entry including the ACCOUNT, the DEBIT amount and the CREDIT amount. Note that the journal entry lines may look different depending on your company configuration. Some fields may be visible or included in the displayed line while others may be included in the Show Details area of the journal entry line. To see the less commonly used line item fields in the Show Details section, click anywhere on the line (it doesn t matter which field) and the Show Details tab button should appear. Click the Show Details button and the system will expand a hidden section of the line containing additional fields, such as infrequently used dimensions. In order to see the details automatically, the user can check the EXPAND LINE DETAILS option from the My Preferences screen. The Entries section can be navigated using the Previous and Next buttons in order to move through the entry lines. 238

6 In a multi currency environment there will be a number of additional fields related to the transaction currency and exchange rates of the journal entry. Additionally, some fields will have a slightly different name in a multi currency environment. Information about the differences in a multi currency environment can be found in the Multi Currency Environment section of this document. Field Type Note DOC Number If the lines of this journal entry correspond to some number other than a sequential line number sequence you may enter that number here. ACCOUNT Drop down list Enter or select the account for this line of the journal entry. Some accounts may require specific dimensions be included when those accounts are used. Although not displayed as required, you will receive an error message if you try to post the journal entry without them. DEPARTMENT Drop down list You may select a department to which the journal entry line will be coded using this field. LOCATION Drop down list You may select a location to which the journal entry line will be coded using this field. This field is required if working in a multi base currency environment. TRANSACTION DEBIT Number Enter the debit amount to be applied to the account. While entry of this field is not required on every line, a journal entry must balance debits and credits in total. 239

7 Field Type Note TRANSACTION CREDIT Number Enter the credit amount to be applied to the account. While entry of this field is not required on every line, a journal entry must balance debits and credits in total. ALLOCATION Drop down list You may select an allocation for this line of the journal entry. Allocations can be coded to any of the available dimensions in Intacct. If you select an allocation, the allocation table will appear in the Allocation Splits section of the Show Details area. An allocation can be overridden by manually changing the allocation splits AMOUNT and/or dimensions in the Allocation Splits section. For more information regarding allocations, refer to the Add/Edit Allocation section of this document. Selecting an allocation automatically clears any of the dimension field settings made on the journal entry line. Conversely, if an allocation has been selected and you attempt to set one of the dimension fields on the journal entry line, the Allocation field and Allocation Splits section are automatically cleared. MEMO Text To post an explanation along with the line of the journal entry, include a memo in this field. PROJECT Drop down list You may select a project to which the journal entry line will be coded using this field. CUSTOMER Drop down list You may select a customer to which the journal entry line will be coded using this field. VENDOR Drop down list You may select a vendor to which the journal entry line will be coded using this field. ITEM Drop down list You may select an item to which the journal entry line will be coded using this field. EMPLOYEE Drop down list You may select an employee to which the journal entry line will be coded using this field. CLASS Drop down list You may select a class to which the journal entry line will be coded using this field. 8. When you have finished entering all lines for the journal entry, if you want to entry to post to the General Ledger on the specified DATE, click the Post button. If you want to save your progress without posting the journal entry to the General Ledger, you can click the Draft button instead. Posting or drafting the journal entry returns you to the screen where you initiated the journal entry add. If this was from the [Journal Symbol] Journal Transactions screen, as these instructions describe, the transaction number will now be visible next to the journal entry on this screen. Clicking the Post & New or Draft & New buttons does the same thing as the aforementioned Post and Draft buttons, except these buttons 240

8 automatically direct you to another add journal entry screen instead of returning you to the previous location. You can also click the Print link if you wish to print a hard copy of the journal entry from this screen. If you set the journal entry with a REVERSAL DATE, the reversing entry will also be created; however, as with the journal entry itself, it will not impact the General Ledger until the date that was specified. EXPORT JOURNAL ENTRIES TO MICROSOFT EXCEL You can easily export a journal entry to Excel, where line items can be easily searched, sorted, and filtered. The ability to export to Excel applies to any journal entry in the General Ledger, navigate to General Ledger Journal Entry. 9. From the General Ledger menu, select the list for the type of journal entry you're interested in. 241

9 10. Locate the journal that contains the entry, and click the View Transactions link next to it. 11. In the transactions list for the journal, locate the journal entry and click the Excel link next it. 12. You can also export to Excel while you are editing or viewing a journal entry. Simply click the Edit or View button next to the Journal Entry 242

10 13. Click the Excel button at the top right of the screen. 243