What is a Journal Code?

A journal code is an abbreviation used to group General Ledger codes and account categories for revenue-at-risk transactions. Revenue-at-risk refers to calculated revenue amounts that are greater than the ceiling amounts (but within tolerance) defined on the contract parameters.

You can review these exceeded amounts and define a journal code to post these amounts to both General Ledger and Project Accounting. If the ceilings are increased, revenue can be recalculated and the at-risk entries will be reversed automatically.