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Entering Journals Journals may be entered through batches or directly via 'on-line' entries. For more information on on-line entries or creating batches consult the topic On-line Journals and the other sections related to adding, editing and deleting batches in this help guide. After creating a new batch press OK... to go into journal entry mode:
Enter the account code of your journal under the Account column. The account's name will automatically be filled in, or press F12 to perform a look-up. Then enter either the debit amount of the journal under the Debit column or the credit amount under the Credit column.
Other field entry options include: Date The date should fall within the date range of the specified batch period. You may enter a date outside this range but this will produce a warning message.
Reference The primary reference for the journal. This should be a short comment or series of codes and numbers that will assist you in identifying the purpose of the journal. The reference is transferred to the general ledger audit trail history file. Details An optional secondary reference for the journal. Useful if the reference is not sufficient to describe the purpose of the entry or for additional information about the journal. The contents of the details field is transferred to the general ledger audit trail history file. Debit Click on 'Debit' to create a debit entry. Credit Click on 'Credit' to create a credit entry. Narration Used if you require extended comments or text to describe the purpose of the journal. For all practical purposes there is no limit to the amount of information you can enter under the narration. If your remarks exceed the available screen space the narration expands to accommodate the additional text. However, note that the contents of the narration are not transferred to the general ledger audit trail history file. You must view your narrations by reopening the applicable batch. Saving Journals The balance field at the right side of the screen below your journals, shows the difference between the debits and credits entered. A correctly entered series of journals should have a zero balance as normally total debits = total credits. The journal batch can be saved by clicking the Save button. You will be warned if the batch does not balance but you will still be able to save your work and return to the batch later to correct the difference. You will not be able to post the batch, however, until a correction is made. If you don't wish to save your work, press the Cancel button. Your most recent journal entries will be lost. Editing Journals You may press the Wipe button at any time to clear a journal entry. If an entry does not contain an account code, it will not be included in the batch when it is saved. System journals can be viewed but not edited. General journals cannot be edited after they have been posted. However, you can reverse post a batch, edit it, and then post it again. Multi-Currency Operations Because CAPITAL GL Controller is a full multi-currency general ledger, you may also enter journals in a currency other than the standard or base currency of your ledger. To do this, select a different currency other than (Ledger Base Currency) next to the Currency field. For example, if you wish to enter journals in US dollars, select 'US Dollars (USD)' from the drop-down list. If the currency you wish to work in is not defined in this list, you must add it to your list of supported exchange rates and currencies. For more information on this topic consult: Exchange Rate Table. After specifying a currency code, you must also enter a rate of exchange. You may enter an exchange rate as either as a division or a multiplication. For example, if you wish to record a journal for $100 in US dollars, and the rate of exchange with your base currency is .8 and this is a division, then the calculation would be: $US100 / .8 = $125 To enter such a journal into the system in US dollars, carry out the following steps: 1. Specify a general ledger account code. (You must always specify a general ledger code before entering any other information.) 2. Select 'US Dollars (USD)' from the list of currency choices under Currency. 3. In the Exchange field enter .8 4. Move to either the 'Debit' or 'Credit' column, depending on whether the entry is a debit or credit, and enter 100. At this point the journal will also be converted automatically back to your base currency. If you use the right arrow key to scroll your columns to the left, you will see the 'Base Currency' column. Under this column will appear 125.00 followed by either a DB or CR code. This is the journal's actual value in base currency. Alternately, you may specify 'Multiplier' next to the Exchange field instead of 'Division'. If you do this then the value you enter in the Exchange field will be multiplied by the journal's amount. For example: $US100 x .8 = $80 In this case the base currency amount would be $80.
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Use the left and right arrow keys, or the
You may also
enter QuickCodes under the Account column to speed up journal entry
in place of a general ledger account code. For more information on
QuickCodes consult the topic:
Entering dates outside the period range are not
recommended as they will complicate your efforts to audit your
accounting entries.