Journal Setup

Infor Public Sector automatically records debit and credit journal entries for every asset valuation transaction. You can use Journal Setup to specify formulas that will determine which budget numbers to use for these journal entries.

For example, you might write a formula that selects the budget number for a journal entry based on the district where an asset is located, or you might write a formula that selects the budget number based on the fiscal year.

You can define different debit and credit budget number formulas for each transaction type. Journal Setup uses a tree to list all of the available transaction types, which are broken down into transaction groups. For example, the New Asset Valuations group includes Initial Cost and Change to Initial Cost transactions.