General Journal can use to post financial transactions directly to general ledger accounts and other accounts such as bank, customer, vendor and employee accounts.
Basically, it is used to book the entries for non-cash receipt (Cash Receipt Journal) or non-payment transactions (Payment Journal).
For example, transaction for funds transfer between bank account/ accruals.
Steps-by-step guide
1, Search "General Journal" & go to the page
2, System prompted existing batch
click on the ellipse button "..." next to Batch Name for select another batch or create a new batch
3, User can edit the batches information:
- Batch Name
- Batch Description
- To default the balancing account number - Optional *For this function users can only enter 1 line in the General Journal & system will default the balancing account when posting.
- No. series (If no No. series users will manually enter)
4, Enter the Entry Lines:
- Posting Date - default by system according to "Work Date", change the Posting Date
- Document No - default by system if No. series is assigned to the batch in step 3
- Account Type & Account No - select the Account Type (e.g G/L Account, Customer, Vendor or Bank) and the Number of the account type
- Description - system will populate G/L account name into Description. You can change the description if needs. The description is meaning the entry’s description.
- Currency Code - select the currency code if the entry is foreign currency.
- Enter Amount (system will then show if it is debit / credit amount due to positive / negative side)
- A positive amount in the Amount field is debited to the main account and credited to the balancing account.
- A negative amount in the Amount filed is credited to the main account and debited to the balancing account
5, Preview Posting
Select Post/Print / Preview Posting when the batch is ready to post
Tips:
- If users have select No. Series in the batch and cannot post with the current document number, select "Renumber Document No" to refresh the Document No.
