Entering Journals

1. Enter Journal window.
2. Enter a unique Journal Name. If you do not GL automatically assigns a name as Source Journal ID Date
3. Enter Period for journal entry.
4. Accept or change the default Effective Date for the journal entry.
5. 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. GL defaults the journal category if you defined the profile option Journals: Default Category.
6. 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 Used or Partially Used sequential numbering, and use a defined Automatic document numbering sequence, GL enters a document number automatically when you save your work.
   [If sequential numbering is always or partially used, you cannot change the journal category or document number after you save your journal entry.]
7. Enter a journal Reference Date. Any date information that you want to store at the journal
   header level. If you enter the Reference Date in your primary set of books, it is transferred to the MRC reporting set of books.
   If the profile option Enter Journals: Validate Reference Date is set to Yes, the date you enter is validated to ensure the date falls into an open or future enterable period.
   If the profile option GL Consolidation: Preserve Journal Batching is set to Yes for the parent set of books, the consolidation process transfers the reference date information from the subsidiary set of books to the parent set of books.
8. Enter Required in the Tax field to indicate that you want to enter additional tax
   information. Otherwise, enter Not Required.
   The Tax field displays only if you selected the Journal Entry Tax checkbox in the Journalling tab of the Set of Books window.
9. Enter an optional Description for the journal entry. GL uses this as the default description for each journal entry line. You can change the journal entry description as necessary.
10. In the Conversion region, 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.
11. In the Status region, the Posting field displays whether a journal batch is posted. The Funds field displays the status of the funds for a journal batch and the Approval field displays whether the journal batch is approved for posting.
12. Enter a Reference description to further identify the journal entry on general ledger and journal entry reports.
13. (Optional) If you are entering an intercompany transaction within a single set of books, you can select a clearing company from the list of values in the Clearing Company field. The Clearing Company field displays only if you selected the Balance Intercompany
    Journals option in the Journalling tab of the Set of Books window.
    - Define relationships in the Intercompany Accounts window, which GL then uses to automatically determine a clearing company. The clearing company you manually enter in the Journals window may not override the relationships defined in the ntercompany Accounts window.
14. Enter a Control Total if you want to verify the total debits for the journal lines against the journal control total.
15. (Optional) In the Transaction Code field, select a transaction code from the list of values, if applicable.
    [The Transaction Code field displays only if you have a public sector installation.]
16. (Optional) If you have average balance processing enabled and your set of books is a consolidation set of books, select Standard or Average as the Journal Type.
    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.
17. (Optional) In the Reverse region, enter a reverse Date, Method, and Period. You can then generate a reversing journal entry to that effective period and date. You can also reverse a journal entry without assigning a reversal period. Reverse Method can be either:
    Switch Dr/Cr: GL 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: GL 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.
18. Enter the journal lines.
19. Save the work.