Understanding Model Journal Entries

You can set up model journal entries as reusable templates to predefine, store, and retrieve regular or recurring transactions, such as monthly accruals. Use models as the basis for journal entries to save time and reduce the potential for error.

You can enter the general ledger distribution information in the model journal entry. When you reuse the model journal entry, the distribution has already been entered, thereby saving you data entry time. If you are creating a model journal entry for vouchers or invoices, you can assign the model to either a supplier or customer record.

You can vary the information included in the model to fit the situation. For example, you might include:

Account numbers, amounts, and explanations.
Account numbers and explanations only (because amounts can vary).
Account numbers, percentages, and explanations.

The system stores model journal entries in the F0911 table with a model posted code (M) and without a general ledger date. Actual journal entries contain a general ledger date and a posted code of P (posted) or blank (unposted).

In addition to creating a model journal entry, you can:

Enter a model for a percent journal entry.
You can create models for journal entries that have fixed percentages of a variable amount. When you subsequently enter an amount based on the model, the system uses the percentages to distribute the gross amount.
Create a model journal entry from an existing journal entry.
You can create a model journal entry from an existing journal entry. If you want to create a model journal entry from an existing journal entry, you must copy the existing journal entry and then select the Model option on the Journal Entry form.
Enter a journal entry based on a model journal entry.
After you create a model journal entry, you can use it as a template for an actual journal entry. Choosing a model journal entry saves time if you are adding basic journal entries and a journal entry based on a model at the same time.