Maintain: Journal
[Finance: Ledger, Master data, Maintenance, Journals]
Journal number
Enter a unique code and description to a journal when you create it. The maximum number of journals is 1000 (0-999).
General tab
Abbreviation
Some master data require abbreviations, for example currencies and journals. The abbreviation is used in various overviews of master data. Enter a clear, recognizable abbreviation.
Journal type
You can create journals of various types. The process of making entries depends on the type of journal. There are 11 options available:
- {Accrual} - To make entries based on actual revenue earned or expenses incurred.
- {Bank}- To make entries based on transactions in your bank accounts.
- {Cash}- To make cash entries.
- {General}- To record all financial events that are not entered in other journals.
- {Giro}- To make entries based on transactions in your Postbank accounts.
- {Period allocation} - To record entries for allocated expenses when an accounting period ends.
- {Purchases}- To record purchases from creditors.
- {Sales}- To record sales to debtors.
- {Settlement journal}- To settle outstanding items of debtors or creditors with (pre)paid amounts.
- {Transit general}- This journal has one sub-type.
- {VAT General}- For VAT entries that cannot be registered in other journals.
Sub type
This field is filled automatically depending on the journal type that you have selected. Generally, sub type for most of the journals is {Purchases} except for transit general journal whereby the sub type is {Accruals}.
Sub type 2
This setting is enabled when you have selected {Settlement} as the journal type. Select either {Debtor} or {Creditor} for the settlement journal which you want it to be.
General ledger account
Select the default offset account for this journal. Each transaction recorded in the journal is entered into this account.
Payments in transit
! This setting is only available when you have selected {Bank} or {Giro} as the journal type.
This is a suspense account in which payments in transit are entered. An example of payments in transit are amounts which are transferred from one bank account to another bank account. In Exact, amounts that have been paid automatically but for which the payment entries can't yet be made, are entered in the 'Payments in transit' account.
Currency
Link a currency code to this journal whereby the amount entered in this journal will be regarded as amounts in the currency. By default, the default currency code that you have defined on the 'Process' tab in [Finance: File, Company settings, Financial preferences] will be suggested. However you can change the currency code used in this journal if you have enabled the setting 'Variable currency' below.
Balance after entry
This field is updated after each entry in this journal and can therefore be used for checking purposes. You may want to change this balance, for example if a bank statement is missing, thus causing the balance to be incorrect. When you create a new journal, you can enter the opening balance in this field.
Period allocation journal
Select a journal of the type period allocation which you want to link to this journal. This setting is not available if you have selected {Accrual} or {Period allocation} as the journal type.
VAT handling
This setting will be auto-adjusted to the appropriate option to handle VAT based on the journal type selected.
Variable currency
Enable this setting if you want to be able to change the currency when making entries in the bank, giro, purchases, sales, general, transit general and VAT general journals.
Variable exchange rate
Enable this setting if you want to be able to change the exchange rate during making entries in bank, cash, giro, purchases, sales, general, transit general and VAT general journals.
Block entry number
If you enabled this setting, the entry number is blocked and you are not able to change it when you make a journal entry. Once it is blocked, the number will be increased automatically for each entry that you make.
Check CloseBal/Diff
You can determine if a journal entry should be closed automatically when the debit total is the same as the credit total. The way on how this is done is depends on the type of journal. For each entry you make, an amount is entered in the fixed offset account linked to the journal. In the general, settlement, VAT general and transit general journals, the entry you make is automatically closed once the total debit amount equals to the total credit amount. In the purchase and sales journals, the entry you make will be closed as soon as the total invoice amount in the header has been entered in the entry lines. When this setting is enabled, it will check whether these entries are correct.
Block entry date
If you enabled this setting, the entry date is blocked and you are not able to change it when you make a journal entry. Once it is blocked, the system date will appear automatically for each entry that you make.
Block
If a particular general ledger account should not be used for entries made directly or manually in a journal, you can block that account by enabling this setting. Entries can only be created through external links or data import.
Scenario
If you enable this setting, you can make scenario entries in this journal. However, this setting is not available for period allocation journal, settlement journal, transit general journal and VAT general journal.
Bank data tab
Matrix for data entry
You can click the 'Add' button to link banks' details to the journal or 'Delete' button to delete the banks' details.
Account type
Enter the bank account type.
Currency (Bank)
Select the currency used by the bank in which the bank account is belongs to.
Bank account
Enter the bank account number.
Primary
Indicate whether the bank account is a primary bank account that used for payments and collections.
Bank statements tab
Settings on this tab are only available when you have selected {Bank} or {Giro} as the journal type.
Bank name
Select the bank which you want to link to this journal.
Statement date
Enter a date as when you will normally received the bank statement.
Statement number
Enter the number as stated on the bank statement.
Processing bank
Enter the number of bank which you have defined to process the collection. This setting is only available if Belgium license is installed.
Accept VerwInfo 4.1 statements
Enable this setting if you want to accept VerwInfo 4.1 statements.
General journal
This setting is available when you have enabled the setting 'Accept VerwInfo 4.1 statements'. Select a general journal to record entries made via VerwInfo 4.1 statements.
Commitments tab
Commitment use mandatory
This setting is only available when you have selected {Purchases} as the journal type. If you enabled this setting, you are required to enter a commitment in the entry line when making a purchase journal entry in [Finance: Ledger, Journal entry, Entry procedure, Purchase journal].
Numbers tab
Matrix for data entry
You can click the 'Add' button to indicate the first entry number to be used or 'Delete' button to delete the existing entry number.
EntryNr
Enter the first entry number that you would like to use for the financial year. The entry number will be increased by 1 for each new entry. It can be changed while you are making entries, unless you have enabled the 'Block entry number' setting on the 'General' tab for the journal concerned.
Documents tab
Matrix for data entry
You can click the 'Add' button to link documents to the journal or 'Delete' button to delete the documents.
Category code: External
Select an external category of the document to be linked to the journal. You can create external categories in [System: Setup, Documents, External categories, Maintenance].
Description
Enter a description of the linked document, if required.
Path: Complete
Enter the full path or URL of the document. The path in the 'Fixed location' field on the 'General' tab in [System: Setup, Documents, External categories, Maintenance] if defined, will be filled in by default. Then you will only need to enter the remaining path.
See also:
[Finance: Ledger, Master data, Reports, Journals]
Finance Manual >
Contents > Creating journals >
[Finance: Ledger, Master data, Maintenance, Journals]
| Main Category: |
Support Product Know How |
Document Type: |
Online help main |
| Category: |
On-line help files |
Security level: |
All - 0 |
| Sub category: |
Details |
Document ID: |
17.991.316 |
| Assortment: |
Exact Financials
|
Date: |
06-02-2009 |
| Release: |
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Attachment: |
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| Disclaimer |