Posting to a Standard Journal Entry

Overview

Use this job aid to post to a standard journal entry. Standard journal entries are the framework for repetitive journal entries. The same general ledger accounts are updated in each journal period with different amounts and/or quantities. For example, at the end of each journal period, the balances must be accrued for commodity, inventory, and cost of goods sold. The same general ledger accounts are updated, but the amounts and quantities are different. For example, at the end of each journal period, the balances must be accrued for commodity, inventory, and cost of goods sold. The same general ledger accounts are updated, but the amounts and quantities are different. In order to post a standard journal entry, the framework of the journal entry must already exist by performing the job aid Adding a Standard Journal Entry. Standard journal entries are assigned a sequential number when they are created, this number is not related to the journal entry number assigned when it is posted.

To post to a standard journal entry:

From the Toolbar, click LDG for General Ledger.
From the General Ledger menu, select Journal Entries, and then select Standard Journal Entries.
In the Journal Location box, the location code defined in Setup Information displays, and cannot be changed. This location code is used primarily by Data Transfer system to identify the location where the journal entry was created and posted.
In the Journal Entry # box, click Lookup or type * and press Enter, and then select the journal number, or type the journal entry number you want to post the standard journal entry from.
Click OK.
In the Location Code box, click Lookup or type * and press Enter, and then select the location code, or type the location code you want to post standard journal entries for. The location code you enter here will default on the general ledger distribution lines.
In the Description box, descriptive information about the standard journal entry will display. This information is available for printing on the journal entry reports and for viewing through inquiry options.
In the System Code box, type a two character abbreviation to identify the source system (for example: AR for Accounts Receivable, AP for Accounts Payable, FA for Fixed Assets). The system code is available for sort and range selections on the journal entry reports.
In the Source Code box, type a code that can be used to cross-reference audit information. The source code you enter here will default on the general ledger distribution lines
In the Date box, the end date for the journal period will display and may be changed to indicate the actual date of the manual journal entry.
At the Do You Want To Apply Source Codes To Detail Entries? prompt, click Yes.
Select the account number you want to debit, and then type the amount and quantity you want to debit.
Click OK.
Select the account number you want to credit, and then type the amount and quantity you want to credit.
Click OK.
Click Save/Exit.
At the Create The Journal Entry Are You Sure? prompt, click Yes.
If the next general ledger journal period exists, At the Reverse Next Period? prompt, type Y if you want to generate and post a journal entry with offsetting amounts and quantities in the next journal period, or type N if you do not want to generate and post a journal entry.

Learn more about Journal Entries feature: