Understanding Journal Management Features
There are several processes with which you can manage journals. If you must quickly add missing subsidiary information, for example, or enter an adjustment that is based on updated information, instead of reloading the source ledger, you can create a manual journal entry.
Journal entries are defined for a specific consolidation business unit, scenario, fiscal year, and accounting period. They can be created after the ledger preparation process is run and before or after consolidation processes are run.
PeopleSoft Global Consolidations provides two types of journal entries:
Manual journal entries are those that you create. They can be set up to reverse, recur at specified intervals, and require approval. They must always be edited (validated) before they can be posted.
System-generated journals are created during several consolidation processes, such as inter-company eliminations, equitization, and currency translation. They are identified with a Global Consolidations source code so you can track them to the process that created them. They are automatically approved, edited (validated), and posted if they meet tolerance requirements.
You can do the following with manual journals:
Establish approval options.
For a specified consolidation business unit and scenario, you can indicate whether all journals should require security- based approval, workflow-based approval, or no approval.
Copy journals.
For example, if you have multiple consolidation scenarios that are based on the same data and you need to make the same journal entry to each of these scenarios, you can create the entry, then copy the journal to those scenarios.
See Journal Entries Page.
Reverse journals.
At the time you are creating a manual journal, you can also specify the period in which it should be reversed with a reversal batch.
Generate recurring journals.
You can create recurring journal entries that you can schedule in advance with a one-time setup.
Post and unpost journals.
You can access the PeopleSoft EPM ledger post application to post or unpost journals for a specified consolidation business unit, scenario, fiscal year, period, and journal ID.
Publish journals.
You can use data mapper rules to publish selected journals back to the source general ledger in either a PeopleSoft General Ledger format, or a Global Consolidations format. You can also use data mapper rules to transform data during the journal publish process.
See Publishing Journals.
View a proforma trial balance.
Before approving or posting journals, you can see the results as if they had been posted on a proforma trial balance.
See Viewing Proforma Trial Balances, Viewing Proforma Trial Balances.
Lock scenarios to prevent posting.
You can lock a scenario or a specified node on the consolidation tree for a specific period to prevent posting or unposting of journal entries.
See Locking Scenarios.
Track journal flow information.
You can specify flow codes on journal entry line items and use them to track cash flow, fixed asset activity, and other types of flow information.