Defining a journal entry

Defining journal entries is the first step in journal entry processing. A journal entry is used to record and post a transaction. Journal entries are also created by Lawson and non-Lawson subsystems. Use this procedure to define a journal entry directly in the General Ledger application.

Procedure flow: defining a journal entry

To interface a journal entry from a non-Lawson system, use Transaction Interface (GL165). See Interfacing data into General Ledger.

  1. Access Journal Entry (GL40.1).
  2. Click New JE to open Define Journal (GL40.2) and define journal entry header information.
  3. Use the following guidelines to enter field values:
    Type

    Select what type of journal entry that you want to create. The default setting is Normal, which lets you create a journal entry within one company. Select Intercompany to create a journal entry between different companies.

    Journal

    If you selected Yes in the Auto Journal Numbering field on Company (GL10.1), then leave the Journal Number field blank and a journal number will be assigned by the system.

    Seq (Sequence)

    The sequence number for a new journal must be zero. The sequence number identifies the order of similar journal entries. Sequence numbers are used by the system when an error suspense journal entry is created for a journal entry with invalid or inactive accounting units or accounts.

  4. Use the Main tab to define header information for the journal entry, including information that defaults on transaction lines. Use these guidelines:
    User Analysis

    Specxify up to four user analysis values to default to each transaction line or use Define (F6) to open the User Analysis Entry subform and define the values. This applies only if you use the Strategic Ledger application.

    Source Code

    Select the source code to identify where transactions are created within a system. If you leave this field blank, then JE is set as the default value.

    Description Default

    Select the description that you want to default on each transaction line. If you leave this field blank, then the journal header description defaults. As an alternative, you can select Prior Transaction line, which copies the description from the last transaction line to the new one.

    Reference

    Specify or select a reference associated with the transaction. Reference is a user-defined field used to track transactions.

    Hold Code

    Specify or select a hold code. The hold code prevents posting transactions. Define a journal hold code in GL12.1 (Journal Hold Code).

    Base Zone

    Specify or select the base zone if your company uses zone balancing. The zone you select in this field overrides the zone defined in Company (GL10.1).

    Document Number

    Specify a document number associated with the journal number.

    Auto Reverse and Period

    If you select Yes in this field, then the new transaction lines you add on GL40.1 will be set to auto reverse.

    Identify the period that you want to reverse journal entries to. If you leave this field blank, then reversing entries are made in the next period.

    Journal Book

    Select a journal book for the transaction to group transactions. If you selected Yes in the Journal Book Required field on Company (GL10.1), then this field is required. See What Is a Journal Book?.

    You can also copy a journal entry. See Copying a Journal Entry.

  5. Use the Dates, Currency tab to define dates associated with the journal entry and to define currency information for a nonbase currency journal entry. Use these guidelines to specify the field values:
    Posting Dates

    Specify the date that you want to post the journal entry on. If you leave this field blank, then the period ending date for the current period is used.

    Transaction Dates

    Specify the date to identify when you created the journal entry. If you leave this field blank, then the system date is used.

    ADB Effective

    For Average Daily Balance companies only, specify the effective date for calculating average daily transactions. If you leave this field blank, then the posting date is set as default. Average Daily Balance is a feature that is generally used only by banking institutions.

    Currency Code and Exchange Rate

    If you are entering a nonbase currency journal entry, then select the appropriate currency code in the Currency Code field. Select the rate used to calculate currency exchange operations on non-base currency amounts in the Exchange Rate field. If you leave this field blank, then the current exchange rate defined in the Currency application is set as default.

  6. If attribute information is required, then use the Attributes form tab to define attribute values. The system assigns the default values to transaction lines with the same source code.
    Note: You can specify amounts and units on the same detail line. Amounts need to balance before a journal entry can be released, units do not.
  7. Define journal entry transaction lines.

    These are the available options:

    To Use
    Add up to five transaction lines at a time for the journal entry

    Journal Entry (GL40.1). On this form you can assign an accounting unit, an account, user analysis values, an amount, a units value, an activity, and a description. Click More to define additional information for a transaction line or override the default information from the journal entry header.

    Note: To add another tab of journal entries, use the Add form action. The form clears and you can continue to specify additional detail lines for the entry. If you create multiple transaction lines, then you can use Copy (F2) to copy a field value from the previous transaction line. To copy and reverse the previous transaction amount use Shift+Copy (F2) in the Amount field.
    Add up to 12 transaction lines at a time for the journal entry The Speed Entry button on Journal Entry (GL40.1) to open the Speed Entry subform. On this form, you can assign an accounting unit, an account, user analysis values, an amount, and a description, and set the reversal flag. Click More to define additional information for a transaction line or override the default information from the journal entry header.
    Define a single transaction line The Single Line button on Journal Entry (GL40.1) to open Journal Entry (GL40.8). Use the Main, Attributes, and Amounts form tabs to define journal entry transaction information.
  8. To display totals for the journal entry, click Totals on Journal Entry (GL40.1) to open Totals (GL40.7). Use this form to determine whether you need to make transaction line adjustments to eliminate differences between transaction and base currency amounts, between transaction and report currency amounts, or between debit and credit amounts.
    If Then
    You want to display totals for a different currency, posting company, or zone. Click Filter
  9. If you selected the auto-balancing option for your company base currency transactions, then click OK and Add to automatically create auto-balancing adjusting entries in the auto-balancing system account.
  10. If you did not select auto-balancing on the Currency tab on Company (GL10.1), then you must return to Journal Entry (GL40.1) and manually adjust the existing detail lines.
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