Entering Journals
To enter a journal:
1. Navigate to the Enter Journals window.
2. Enter or query the batch for which you are entering journals. To enter a journal without entering batch information, choose New Journal and proceed to Step 4.
- To enter journals for a new batch, choose New Batch and enter the batch information.
- To add journals to an existing batch, query the batch and choose Review Batch.
Note: The Status region on the Batch window will display the current statuses for Posting, Funds reservation, and journal Approval.
4. Enter a unique Journal name for the entry. If you do not enter a journal name, General Ledger automatically assigns a name using the following format: Source Journal ID Date.
If you did not enter a batch name before entering journals, General Ledger uses the name of the first journal in the batch to create a default batch name.
5. Enter the Period for the journal entry. If you entered a period at the batch level, you must use the same period for each journal entry in the batch. If you did not enter a period at the batch level, choose any Open or Future Enterable period for your journal entry. Note that you can only post journals in Open periods.
Note: If you enter a period prior to the current accounting period and the user profile option Journals: Enable Prior Period Notification is set to Yes, General Ledger will display a message indicating that you are entering a prior period journal. You must confirm that this is what you want to do.
Additional Information: Balance Type is a display-only field. It displays Actual when you are entering actual journals and Budget when you are entering budget journals.
6. Accept or change the default Effective Date for the journal entry.
7. Enter a Category to describe the purpose of your journal entry, such as accrual, payments or receipts. All lines in a journal entry share the same journal category.
General Ledger defaults the journal category if you defined the profile option Journals:Default Category.
8. If you use manual numbering, enter a unique Document number. This field is only available if the Sequential Numbering profile option is set to Always Used or Partially Used.
If you set your profile options to always use or partially use sequential numbering, and use a defined Automatic document numbering sequence, General Ledger enters a document number automatically when you save your work.
Attention: If sequential numbering is always or partially used, you cannot change the journal category or document number after you save your journal entry.
9. If you use automatic tax on journal entries, enter Required in the Tax field to indicate that you want to enter additional tax information. Otherwise, enter Not Required. This field only appears if you have automatic tax enabled for your set of books.
10. Enter an optional Description for the journal entry. General Ledger uses this as the default description for each journal entry line. You can change the journal entry description as necessary.
11. Enter a Control Total if you want to verify the total debits for the journal lines against the journal control total.
12. Accept the default Currency (the functional currency for your set of books), or change the journal currency to enter a foreign currency or statistical journal.
In a consolidation set of books, you can create journal entries that affect either standard or average balances. The balances are not linked. In a non-consolidation set of books, you can only create journal entries that directly affect standard balances. Average balances are calculated automatically from your standard balances.
14. Choose More Details to enter optional reference information about the journal entry.
- Enter a Reference description to further identify the journal entry on general ledger and journal entry reports.
- Enter a reversal Date, Period, and Method. You can then generate a reversing journal entry to that effective date and period. You can also reverse a journal entry without assigning a reversal period. Reversal Method can be either:
Switch Dr/Cr: General Ledger creates your reversing journal by switching the debit and credit amounts of the original journal entry. This method is often used when reversing accruals.
Change Sign: General Ledger creates your reversing journal by changing the sign of your original journal amounts from positive to negative. This reversal method is often used when reversing journals to correct data entry mistakes.
Close the More Details window when you are finished.
15. Return to the Journals window and enter the journal lines.
See Also
Entering Journal Lines
Entering Foreign Currency Journals
Entering Statistical Journals
Entering Journals for a Prior Period
Entering Journals for a Future Period
Posting Journal Batches
Defining Reversing Journal Entries
Overview (of Average Balance Processing)
