3. The GL Create Journal Entries window opens. Here you will create an Entry and the journal entries associated with it in the grid below. Hit the Enter key to have the system assign the Entry Number.

 

4. Add Entry Header area information (field details follow).

 

5. Then follow the steps in the Process to Add a New Journal Entry section that follows.

 

 

Entry Header

A journal entry consists of the entry header (Entry Number, Reference, Description, Auto Reverse, and Date) and one or more entry detail items (Account, Description, and Amount).

 

 

Number

This is the number that uniquely identifies the entry. The entry number is maintained by entrée. This field is informational only and cannot be edited.

 

Reference

Enter up to 15 characters of information which can be used as a cross-reference, such as a check or voucher number. This field may be left blank.

 

Description

Enter up to 35 characters of information as a description of the entry. This field may be left blank.

 

Auto Reverse

Select "Y" to have General Ledger automatically reverse the entry on the first day of the next period, or you can accept the default "N". You should use reversing entries in accrual basis accounting only. Reversing entries are optional and used to simplify recording. Typically, reversing entries are made to record accrued (unrecorded) expenses or accrued revenues.

 

Date

Enter the entry date, or accept the default date which is the current date.

 

 

Process to Add a New Journal Entry

When an entry is posted to General Ledger, the detail items in the entry will determine which accounts in General Ledger are updated, and the amount of the updates.

 

•A balanced entry has at least two detail items. The sum of all the debits (positive amounts) and the sum of all the credits (negative amounts) must cancel each other out for an entry to be balanced. Only balanced entries can be posted to General Ledger. A typical use of a journal entry is to create initial balances for various General Ledger accounts.

 

•Any entry (whether it is balanced or not) can be saved to the unposted entry file, provided it has at least one detail item.

 

•Voided entries are saved to the unposted entry file as well, but an entry that is going to be voided does not require any detail items, since any detail information is stripped out of the entry prior to saving it to the unposted entry file. Therefore, an entry can be voided regardless of whether or not is has any detail.

 

1.Click the Add Entry button to activate the GL Create Journal Entries window and create the new entry.

2.Fill in the entry header information fields: Reference, Description, Date and Auto Reverse values.

3.Click the New Detail button to add new details items in the grid below. The Account field will activate.

4. Use the search tool to open the GL Account Search dialog and find and select the account for the first detail entry and click OK.

 

 

5. Continue to fill in the Detail Description and Amount using the Tab key in the entry grid. Explanations of the Entry Grid Details follow.

 

 

6. Click the New Detail button again to add the second entry in the grid to balance the first entry. Or if this is an unbalanced entry with one detail item in the grid go to step 8.

 

7. Perform step  4 and  step 5 for the second detail entry in the grid.

 

 

8. You have two options right now.

▪Click the Post button to post balanced entries. In the GL Post Journal Entries dialog click Select All Balanced Entries button then click the Post button. Click Yes on the Confirm message box displaying "Ready to Post?".

 

▪Click the Apply button to save the current entry to a temporary entry file. This button is useful if you want to save entries, but not exit out of the Journal Entry window.