How to post transactions to general journal vs general ledger

Most financial transactions are posted to the general ledger through dedicated business documents, such as purchase invoices and sales orders. For business activities that are not represented by a document in Finance and Operations, Business edition, such as smaller expenses or cash receipts, you can create the related transactions by posting journal lines in the General Journal window.

For example, you can post employees' expenditure of own money on business-related expenses, for later reimbursement. For more information, see How to post transactions to general journal vs general ledger and Reimburse Employees' Expenses. You use general journals to post financial transactions directly to general ledger accounts and other accounts, such as bank, customer, vendor, and employee accounts.

Posting with a general journal always creates entries on general ledger how to post transactions to general journal vs general ledger. This is true even when, for example, you post a journal line to a customer account, because an entry is posted to a general ledger receivables account through a posting group.

The information that you enter in a journal is temporary and can be changed while it is in the journal. When you post the journal, the information is transferred to entries on individual accounts, where it cannot be changed.

You can, however, unapply posted entries, and you can post reversing or correcting entries. For more information, see Reverse Postings. There are several general journal templates. Each journal template is represented by a dedicated window with particular functions and the fields that are required to support those functions, such as the Payment Reconciliation Journal window to process bank payments and the Payment Journal window to pay your vendors or reimburse your employees.

For each journal template, you can set up your own personal journal as a journal batch. For example, you can define your own journal batch for the payment journal that has your personal layout and settings. The following tip is an example of how to personalize a journal. If you select the Suggest Balancing Amount check box on the line for your batch in the General Journal Batches window, then the Amount field on, for example, general journal lines for the same document number is automatically prefilled with the value that is required to balance the document.

If you have set up default balancing accounts for the journal batches on the General Journals page, the balancing account will be filled in automatically when you fill in the Account No. Otherwise, fill in both the Account No. A positive amount in the Amount field is debited to the main account and credited to the balancing account. A negative amount is credited to the main account and debited to the balancing account.

VAT is calculated separately for the main account how to post transactions to general journal vs general ledger the balancing account, so they can use different VAT percentage rates. A recurring journal is a general journal with specific fields for managing transactions that you post frequently with few or no changes, such as rent, subscriptions, electricity, and heat.

Using these fields for recurring transactions, you can post both fixed and variable amounts. You can also specify automatic reversal entries for the day after the posting date. You can also use allocation keys to divide the recurring entries among various accounts. With a recurring journal, entries that will be posted regularly need to be typed in only once. That is, the accounts, dimensions and dimension values and so on that you enter will be remain in the journal after posting.

If any adjustments are necessary, you can make them with each posting. This field determines how the amount on the journal line is treated after posting. For example, if you will use the same amount every time you post the line, you can let the amount remain. If you will use the same accounts and text on the line but the amount will vary every time you post, you can choose to delete the amount after posting.

The VAT fields can be filled in on either the recurring journal line or on the allocation journal line but not on both. That is, they can be filled in in the Allocations window only if the corresponding lines in the recurring journal are not filled in. This field determines how often the entry on the journal line will be posted. It is a date formula field, and it must be filled in for recurring journal lines. If the journal line must be posted every month, enter "1M".

After every posting, the date in the Posting Date field will be updated to the same date in the next month. With this formula, the posting date is calculated correctly regardless of how many days there are in the month.

This field determines the date on which the line will be posted for the last time. The line will not be posted after this date. The advantage of using the field is that the line will not be deleted from the journal immediately and you can always replace the present how to post transactions to general journal vs general ledger date with a later one so that you can use the line further into the future.

If the field is blank, the line will be posted every time you post until it is deleted from the journal. In the Recurring General Journal window, you can choose the Allocations action to see or manage how amounts on the recurring journal line are allocated to several accounts and dimensions.

Note that an allocation functions as balancing account line to the recurring journal line. Just as in a recurring journal, you need to enter an allocation only once. The allocation will remain in the allocation journal after posting, so you do not need to enter amounts and allocations every time you post the recurring journal line.

If the recurring method in the recurring how to post transactions to general journal vs general ledger is set to Balance or Reversing Balancethen any dimension value codes in the recurring journal are disregarded when the account is set to zero.

So if you allocate a recurring line to various dimension values in the Allocations window, then only one reversing entry will be created. Therefore, if you allocate a recurring journal line that contains a dimension value code, then you must not enter the same code in the Allocations window.

If you do, the dimension values will be incorrect. You pay rent every month, so you have entered the rent amount on the cash account on a recurring journal line. In the Allocations window, you can divide the expense among several departments Department dimension according to the number of square feet that each one occupies.

The calculation is based on the allocation percentage on each line. You can enter various accounts on different allocation lines if rent will also be divided among several accountsor you can enter the same account but with various dimension value codes for the Department dimension on each line. How to post transactions to general journal vs general ledger you have created journal lines which you know you are likely to create again later, you can save them as a standard journal before you post the journal.

This functionality applies to item journals and how to post transactions to general journal vs general ledger journals. The following procedure refers to the item journal, but the information also applies to the general journal. Choose the icon, enter Item Journalsand then choose the related link. In the Save as Standard Item Journal request window, define a new or existing standard item journal that the lines should be saved in.

If you have already created one or more standard item journals and you want to replace one of these with how to post transactions to general journal vs general ledger new set of item journal lines, in the Code field, select the code you want. Choose the OK button to verify that you want to overwrite the existing standard item journal and replace all its content. Select the Save Unit Amount field if you want to save the values in the Unit Amount field of the standard item journal. Select the Save Quantity field if you want the program to save the values in the Quantity field.

When you have finished saving the standard item journal, the Item Journal window is displayed so you can proceed to post it, knowing that it can easily be recreated next time you need to post the same or similar lines. The Standard Item Journals window opens showing codes and descriptions for all existing standard item journals. To review a standard item journal before you select it for reuse, choose the Show Journal action.

Any changes you make in a standard item journal are implemented right away. They will be there next time you open or reuse the standard item journal in question.

You should therefore be sure that the change is important enough to apply generally. Otherwise, make the specific change in the item journal after the standard item journal lines have been inserted.

See step 4 below. In the Standard Item Journals window, select the standard item journal you want to reuse, and then choose the OK button. Now the item journal is filled with the lines you saved as the standard item journal. If journal lines already existed in the item journal, the inserted lines will be placed under the existing journal lines.

If you selected the Save Unit Amount or Save Quantity fields, you should now make sure the inserted values are correct for this particular inventory adjustment before you post the item journal. If the inserted item journal lines contain saved unit amounts that you do not want to post, you can quickly adjust it to the current value of the item as follows.

Select the item journal lines you want to adjust, and then choose the Recalculate Unit Amount how to post transactions to general journal vs general ledger.

This will update the Unit Amount field with the current unit cost of the item. To make sure that you do not receive posting errors because of the document number order, you can use the Renumber Document Numbers function before you post a journal.

In all journals that are based on the general journal, the Document No. Series field on the journal batch is filled, then the posting function in general journals requires that the document number on individual or grouped journal lines be in sequential order. To make sure that you do not receive posting errors because of the document number order, how to post transactions to general journal vs general ledger can use the Renumber Document Numbers function before you post the journal.

If related journal lines were grouped by document number before you used the function, they will remain grouped but may be assigned a different document number. Any renumbering of document numbers will respect related applications, such as a payment application that has been made from the document on the journal line to a vendor account. The following procedure is based on the General Journal window, but applies to all other journals that are based on the general journal, such as the Payment Journal window.

Values in the Document No. After documents are renumbered, you can proceed to post the journal. The feedback system for this content will be changing soon. Old comments will not be carried over. If content within a comment thread is important to you, please save a copy. For more information on the upcoming change, we invite you to read our blog post. Using Journal Templates and Batches There are several general journal templates.

Tip If you select the Suggest Balancing Amount check box on the line for your batch how to post transactions to general journal vs general ledger the General Journal Batches window, then the Amount field on, for example, general journal lines for the same document number is automatically prefilled with the value that is required to balance the document.

Note VAT is calculated separately for the main account and the balancing account, so they can use different VAT percentage rates. Note The VAT fields can be filled in on either the recurring journal line or on the allocation journal line but not on both. Note The following procedure refers to the item journal, but the information also applies to the general journal.

Note If you selected the Save Unit Amount or Save Quantity fields, you should now make sure the inserted values are correct for this particular inventory adjustment before you post the item journal.

Note The feedback system for this content will be changing soon.

For more information, see Record and Reimburse Employees' Expenses. General journals post financial transactions directly to general ledger accounts and other accounts, such as bank, customer, vendor, and employee accounts.

Posting with a general journal always creates entries on general ledger accounts. This is true even when, for example, you post a journal line to a customer account, because an entry is posted to a general ledger receivables account through how to post transactions to general journal vs general ledger posting group. You can personalize your version of a general journal by setting up a journal batch or template. For more information, see Working with General Journals.

Unlike for entries that are posted with documents, which require a credit memo process, you can how to post transactions to general journal vs general ledger reverse entries that are posted with the general journal. For more information, see Reverse Postings. Choose the icon, enter General Journalsand then choose the related link. Open the relevant general journal batch.

On a new journal line, fill in the fields as necessary. Choose a field to read a short description of the field or link to more information. If you want to enter multiple transaction lines above one balance-account line, for example, for one bank account, then select the Suggest Balancing Amount check box on the line for your batch in the General Journal Batches window. Then the Amount field on the balance-account line is automatically prefilled with the value that is required to balance the transactions.

The feedback system for this content will be changing soon. Old comments will not be carried over. If content within a comment thread is important to you, please save a copy. For more information on the upcoming change, we invite you to read our blog post. To post a transaction directly to a general ledger account Choose the icon, enter General Journalsand then choose the related link.

Repeat step 3 for all the separate transactions that you want to post. Tip If you want to enter multiple transaction lines above one balance-account line, for example, for one bank account, then select the Suggest How to post transactions to general journal vs general ledger Amount check box on the line for your batch in the General Journal Batches window.

Note The feedback system for this content will be changing soon.

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