Enter a unique code and description to a journal when you create it. The maximum number of journals is 1000 (0-999).
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.
You can create journals of various types. The process of making entries depends on the type of journal. There are 11 options available:
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}.
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.
Select the default offset account for this journal. Each transaction recorded in the journal is entered into this account.
! 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.
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.
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.
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.
This setting will be auto-adjusted to the appropriate option to handle VAT based on the journal type selected.
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.
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.
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.
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.
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.
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.
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.
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.
Enter the bank account type.
Select the currency used by the bank in which the bank account is belongs to.
Enter the bank account number.
Indicate whether the bank account is a primary bank account that used for payments and collections.
Settings on this tab are only available when you have selected {Bank} or {Giro} as the journal type.
Select the bank which you want to link to this journal.
Enter a date as when you will normally received the bank statement.
Enter the number as stated on the bank statement.
Enter the number of bank which you have defined to process the collection. This setting is only available if Belgium license is installed.
Enable this setting if you want to accept VerwInfo 4.1 statements.
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.
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].
You can click the 'Add' button to indicate the first entry number to be used or 'Delete' button to delete the existing entry number.
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.
You can click the 'Add' button to link documents to the journal or 'Delete' button to delete the documents.
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].
Enter a description of the linked document, if required.
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]