General Journal Entries (REALedger 2.0 or above)

Summary:

General Journal entries are used to record transactions relating to adjustments, opening balances or other accounting errors.  You not only can use this feature to create new entries but also lookup previously posted ones.

Solution:

From the main navigation bar at the top, click on the General Ledger module.

From the left navigation pane, click Processing then click General Journal Entries. 

 

The transactions to view option box, above the navigation pane, toggles the display between Unposted, Posted, and All transactions.  The All view will display journal entries in the Unposted and Posted view.  New entries can only be made in the Unposted transaction view.

The general journal entry form has two main areas; a transaction header and detail lines.

The Header

Enter any unique alphanumeric Journal Entry Number up to sixteen characters.  The recommended practice is to create some standardization in the numbering.  A useful method is to reserve the first one or two positions as a “journal key”, and then add on a “counter” value.  For example, for all depreciation entries, one might use journal numbers beginning with “DX-” (to indicate depreciation expense.)  The first depreciation entry would be “DX-001”, the second “DX-002” and so on.  For yearend adjustments, the journal numbers might run “YE-001”, “YE-002” and so on.  Some organizations use a date string in place of the counter.  Regardless, it is best to put some consistent procedure in place for numbering journal entries.

Enter a Description for the journal entry.

Enter the Date on which you want the entry recognized for financial statement reporting.  This is also referred to as the posting date.

Enter Amount equal to one side of the journal entry.  For example, if you are making an entry that debits cash for $10.00 and credits A/P for $6.00 and credits wage expense for $4.00, enter $10.00 in this field.

Journal Entry Lines

The line item detail is what most consider to be “the entry”.  You may enter as many lines as you wish in a journal entry.  However, the line items must balance between debits and credits and they must balance to the amount in the header.

Click the green plus sign to enter the debit or credit value for each line.  You may not enter a debit and a credit on the same line.  You may enter multiple lines for the same G/L account.

Select the appropriate GL Account and Office ID and, if relevant, a Project ID, from the respective dropdown lists.

Running totals for debits and credits are displayed in the header.

When you have completed entering all the detail line items, (the debit and credit running sum totals will equal the Amount in the header section and the remaining debit and credit totals will be zero), click Save to store the entry.

The Reverse button can be used to create an unposted transaction record for any journal entry in the system – posted or unposted.

Be Lazy.  Don’t spend time re-creating journal entries that are similar.  Recall any previous journal entry (posted or unposted) to the screen and use the Copy function to “clone” that entry as a starting point for a separate, new unposted entry

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