This chapter contains the following topics:
Section 7.1, "Understanding Cost Object Tracking in General Accounting"
Section 7.2, "Understanding the Cost Object Information Update Process in the General Ledger"
Section 7.3, "Entering Cost Object Information in GL Journal Entries"
The JD Edwards EnterpriseOne General Accounting system ensures that all information is fully integrated into the general ledger. In turn, the general ledger provides flexible and accurate financial reporting. Typically, you generate transactions, such as invoices, vouchers, receipts, and payments, using other JD Edwards EnterpriseOne systems. However, you can also enter transactions directly by using the JD Edwards EnterpriseOne General Accounting system.
After you review and approve a batch of journal entries, you can use the Post General Ledger (Pre-Post) program to edit and post each type of transaction. This program also edits transaction batches for the Account Ledger table (F0911) and updates the batch status to allow the system to post transactions to the Account Balances table (F0902). If any errors occur during editing, the system assigns an error status to the batch and does not post it.
When you post journal entries, the system copies the edit code flags for cost objects when you create accounts dynamically.
The system performs the following tasks:
Selects unposted and approved batches that match the criteria that is specified in the data selection.
Edits each transaction to determine whether:
The account exists in the Account Master table (F0901) and is a posting account.
The business unit exists in the Business Unit Master table (F0006).
The GL date is valid.
The intercompany setup is correct (if required).
Multicurrency is set up for intercompany transactions.
Edits each batch to ensure that it is in balance and approved.
Sends electronic mail messages for transactions that are in error and batches that do not balance.
Prints a Post Detail Error Report if the batch does not balance.
Places an entire batch in error if any transactions are in error.
Creates offsetting entries by date of transaction.
Posts transactions to the Account Balances table.
Updates posted transactions with a GL posted code in the Account Ledger table and creates records for the balances in the Account Balances table.
Updates the status of each posted batch in the Batch Control Records table (F0011).
Posts the domestic amounts to the Actual Amount (AA) Ledger, and if applicable, the foreign amount to the Currency Amount (CA) Ledger.
Performs intercompany settlements, if applicable.
Creates reversing entries, if applicable.
Prints the General Ledger Post Report.
This section provides an overview of entering cost object information in GL journal entries and discusses how to:
Enter cost object information in GL journal entries.
Set processing options for journal entries.
You can use basic journal entries to enter many types of transactions. When you enter a journal entry to a ledger type that is required to balance, the debit and credit amounts must balance.
For each journal entry, you must enter information to identify it in the system, such as the date that the journal entry affects the general ledger.
When you complete a journal entry, the system displays the assigned batch and document numbers. You can use these numbers to locate and review a journal entry. The system assigns batch and document numbers from the Next Numbers function.
| Form Name | FormID | Navigation | Usage |
|---|---|---|---|
| Journal Entry | W0911A | Journal Entry, Reports, & Inquiries (G0911), Journal Entry
Click Add on the Work With Journal Entries form. |
Enter cost object information in GL journal entries. |
Access the Journal Entry form.
|
Note: If you are using batch control, the Batch Control form appears. In that case, enter the date and expected totals. |
Processing options enable you to specify the default processing for programs and reports.
Specify the system and type of entries the batch produces. Examples of batch types include G for General Accounting, V for Voucher Entry, and IB for Invoices. If you leave this processing option blank, the system processes all batch types.
Specify whether to display journal entries in a Debit or Credit format.
Specify whether to override the journal entry MBF version for journal entry processing. You must specify a version for P0900049. If you leave this processing option blank, the system uses version ZJDE0001.
This processing option should be changed only by personnel responsible for your system setup.
Specify whether to require an Asset ID if an account is in the AAI asset account range. Values are:
Blank: Do not require an Asset ID.
1: Require an Asset ID.