Creating journal entries

Use this procedure to create journal entries in Project Accounting. You can post entries exclusively to Project Accounting (AC Only), or you can post entries to activities and General Ledger (AC and GL). Details on creating resource or subcontractor entries are found elsewhere in this user guide.

See Creating resource time entries or Creating Subcontractor Time and Material entries.

Follow these steps to create a journal entry:

To create a journal entry

Access the journal entry form.


To	Use
Create an AC Only journal entry	Journal Entry (AC only) (AC40.1)
Create an AC and GL journal entry	Journal Entry (AC and GL) (AC40.4)

Define the journal entry. Use these guidelines to specify the field values:

Control Group

Leave this field blank when adding a new entry; the system automatically creates the control group number. Specify a description of the journal entry in the adjacent field.

Company

This field exists only on Journal Entry (AC and GL) (AC40.4). Select the General Ledger company to which you want to post the entry.

Posting Date

Specify the posting date for the journal entry. If you selected Posting Date in the Date Edit field on Activity Group (AC00.1), the date you specify here must fall within the date range of each activity you include in the entry. Date ranges are defined on Activity (AC10).

GL Only

This field appears only on Journal Entry (AC and GL) (AC40.4).

Select Yes for lines that should be posted only to General Ledger. You will not be required to enter an activity and account category on the line.

Select No for lines that should be posted to Project Accounting and General Ledger. You must specify activity and General Ledger information on the line. The default setting is No.

Activity

Select the activity to which you want to post the transaction.

Acct Cat

Select the account category to which you want to post the transaction.

Amount

Specify the transaction amount. You can indicate a credit amount with a negative (-) sign following the amount.

Units

Specify the number of units for the transaction. Units require a unit of measure in the UOM field.

Note: If you add units for a line that you are posting to General Ledger, then ensure the General Ledger account allows units.

UOM

If you entered units, then select a unit of measure.

Currency

Select a currency code to identify the transaction's currency. You can use any currency code that has a relationship defined in the currency table associated with the activity group. If you leave this field blank, the activity currency defaults.

Desc

Specify a transaction description. If you leave this field blank, then the control group description defaults.
Click More to access the Additional Information (AC40.2 or AC40.5) from the AC and GL journal entry screen.
1. On the Main tab, override or define new transaction information. Use these guidelines to specify the field values:
  
  Company, Accounting Unit, Account
  
  Select a company, accounting unit, account, and subaccount. The company, accounting unit, account, and subaccount defined for the activity default.
  
  Reference
  
  Specify a reference for the transaction, such as a purchase order or invoice number.
  
  Transaction Date
  
  Specify the transaction date for the journal entry. If you selected Transaction Date in the Date Edit field on Activity Group (AC00.1), the date you specified here must fall within the date range of each activity you include in the entry. Date ranges are defined on Activity (AC10).
  
  User Analysis
  
  This field appears only for AC and GL journal entries. To post the transaction to Strategic Ledger, select the user analysis values you want to associate with the transaction. User analysis values defined for the activity default.
2. On the Attributes tab, define attributes for the transaction line. Use these guidelines to specify the field values:
  
  Category
  
  Transaction attributes defined for source journal AE (Activity Entry) appear.
  
  Value
  
  Specify or select an attribute value for any of the transaction attributes. See Defining transaction attributes.
  
  Note: For activities with cost plus billing parameters, values are first validated against Cost Plus Billing Labor Category Assignment (BR03.3). If no values are present on Cost Plus Billing Labor Category Assignment (BR03.3), the values are validated against any values present for the transaction attribute on Attribute (MX00.1). These values are also edited against values on Billing Category Rates (BR03.1).
3. On the Amounts tab, change transaction currency information. If you override currency information, process the change for Additional Information (AC40.2 or AC40.5) and change the line on AC40.1 or AC40.4. Use these guidelines to specify the field values:
  
  Transaction Amount, Currency
  
  The transaction amount and currency entered on the transaction line default. You can override the amount or the currency. The currency code must have a relationship defined with the base currency and the activity currency. These relationships are defined in the currency table associated with the activity group.
  
  Note: When you change the transaction currency, the system will recalculate the transaction amounts in base and activity currency if you blank out the base and activity currency amounts and rates.
  
  Base Amount, Rate
  
  The base amount and rate are calculated automatically. Base currency is determined by the activity group associated with the activity in the transaction line.
  
  To override the base currency amount, specify a new amount and leave the base currency rate blank. The rate will be calculated based on the amount.
  
  To override the base currency rate, specify a new rate and leave the base currency amount blank. The amount will be calculated based on the new rate.
  
  Activity Amount, Rate
  
  The activity amount and rate are calculated automatically. Activity currency is defined on Activity (AC10).
  
  To override the activity currency amount, specify a new amount and leave the activity currency rate blank. The rate will be calculated based on the amount.
  
  To override the activity currency rate, specify a new rate and leave the activity currency amount blank. The amount will be calculated based on the new rate.
  
  One, Two Amount (Report Currencies), Rate
  
  The report one and report two amounts and rates are calculated automatically. Report currencies are determined by the activity group associated with the activity in the transaction line.
  
  To override a report one or report two currency amount, specify a new amount and leave the rate fields blank. The rate will be calculated based on the amount.
  
  To override a report one or report two currency rate, specify a new rate and leave the amount fields blank. The amount will be calculated based on the new rate.
Click Totals on the entry form to display debit, credit, and net totals by amounts and units. Specify up to six currency codes to display.