Revised: 5/24/2020
What is the User ID for? User IDs can be used to post selected Journal Vouchers. The User ID defaults to the initials of the user who is logged in to make it easy for the user to post only his/her entries. Users may change the User ID (Up to 6 characters) and then post by this User ID (There must be a Journal Voucher entered with that User ID in order to post it.) Or, if there is a Journal Voucher with your initials that you do not want to post, enter or change the User ID on the JV you want to post and use the new User ID during the posting process to only post that JV.
Go to Activities>>GL Journal Entry
J/E Header
The J/E Number will be added by the system, leave this blank.
The User ID will default to the initials of the person who is logged in to Financials. Usually leave this as is. This value may be changed, however you will need to change the posting user ID to match or it will not post.
Enter a Description for the overall entry
The Auto Reverse box should normally be left unchecked.
When this box is checked, the entries will post for the date entered as usual; however, they will remain in the Journal Entry view. The debits and credits will be reversed and the dates will be updated to the first of the next month and the Auto Reverse check box will be unchecked. These entries will need posted a second time to complete the reversal.
Uses: This can be used every month to accrue expenses, but is most often used at the end of a fiscal year to enter "Audit Reversing Entries". This process can be used to move expenses and revenue recorded in one month back to the previous month.
J/E Lines
Line# will auto fill with the next number. Change this number only to reopen a previously entered line.
IFC Code - This field may be left blank when not needed. Enter or select an IFC Code to create Due to/Due from entries. See the Explanation on using IFC Codes. Note: IFC Code usage in Journal Entries became functional in Financials Version 16.190.4.10 - 05/08/2020. IFC should not be used in earlier versions.
Enter or select the GL Account Number for line 1 of the entry and Tab
If the general ledger account number entered is not in effect for the date entered, a warning will be displayed.
The Account Description will be pre-filled. Tab to the Source field.
Select a Source for the transaction from the list and tab. JV will be the most common selection. Please note that the source IFC does not interface to the check book, use Source IFC only for intercompany transactions to cash accounts that do not affect the bank account. These transactions must balance and have a zero effect on cash over all.
Reference is an optional field. You may enter anything you would like to track for the entry line. Use a check number, invoice number, name, etc. up to ten characters.
Enter or select the Transaction date, which is the date the entry will hit the general ledger.
Memo - Enter a description which pertains to this line item.
Enter either a Debit or Credit amount and tab until the line saves to the grid below. Do not enter a value in both.
Possible errors before a save is allowed:
Account Number Entered not Valid for the Date Entered - in the GL Account Master, the general ledger account entered has either a Start Date or an End Date the excludes the date of this entry.
The Date Entered Locked From Entry - The Date entered is locked in the Accounting Period Master or the Check Book has already been reconciled and is now locked from entry.
Line 2 is now ready, which is entered in the same manner as above. Source, Reference, Transaction Date & Memo will remember the previous entry values, you may tab through these to use them or change the values.
Continue till all lines are entered
Near the top right of the view you will see a running Balance. This must be Zero when you have completed entering all of the lines.
If Save and Apply are active, then press one of them to complete saving. Save will Save and clear the view. Apply will save and leave the current record open.
You may click Clear/Add to clear the view to start enter a new JV.
You may now enter a new journal entry, or close the view.
GL Journal Edit List
Go to Activities>>Journal Edit List to print the edit list
Select Entry Number or Account Number to sort and subtotal by
Leave the User ID blank to review all Journal Entries. Enter a User ID to review only the entries entered with this User ID (usually your initials).
A Journal Number or Filtering may be used as additional selection criteria or these fields may be left blank.
Use the Filtering options to find out of balance entries within your Balance Controlled Segments. For Example: If Segment Fund is out of balance for Funds 10 & 20, try running the edit list for Fund 10 to see only those entries to help find out what entry is extra or missing. Then run the edit list for Fund 20 and compare the 2 lists to find the incorrect entries.
Review the edit list:
If any balanced controlled segments are out of balance, the end of the edit list will have a summary of these segment balances. This will show each segment that is out of balance with the total Debits, Credits and a Net (out of balance).
Warning: If summary shows two different segments such as Fund and Department out of balance, it may be the same entry causing both balance issues.
If out of balance segments are listed, or if you need to edit an entry Go to Activities>>GL Journal Entry; click on the browse button by the J/E field and select the voucher to edit.
When finished, review your edit list again.
Post GL Journals
Go to Activities>>Post Journals to post your entries
Review the User ID. Use the same User ID used for the edit list to post the same information. Only entries with this User ID will be posted.
If you remove the User ID and leave the field blank. All Journal Vouchers will be posted.
Click Post. Preview and/or Print the Posting Transaction Register for your records
If you receive the following error during the posting process, "Errors in Posting Detected", click the View Errors button. This will display the error report. Errors may be for out of balance segments or Locked Accounting Periods. Review the errors and edit the journal entries to correct or reopen the accounting period(s). After correcting the journal voucher, review the edit list again and post.