Setting up Journal Types (JNT) - Agency/Broker

  1. Click the Agency/Broker tab in the Journal Types (JNT) dialog.
  2. Specify this information:
    Posting Journal Type

    The posting journal type.

    Note: This option must be set to the default of Non-Cash Posting, even for cash receipts and cash payments, unless you are using SunSystems as a broker ledger with pay as paid capability.

    When using SunSystems as a broker ledger with pay as paid capability, this flag indicates whether the journal is posting cash or non-cash related transactions. There are special implications for transactions entered with a posting journal type of Cash Posting:

    • A Value Date needs to be supplied to identify the date from which the cash transaction becomes available for matching.
    • When Write-on/Write-off Balancing is enabled and cash is being matched in the fourth currency, any matching imbalance is converted into the currency values using the exchange rates on the cash transaction.
    • When a transaction is posted with a posting journal type of Cash, the system sets the true rated flag for that transaction.
    Note: It is recommended this setting remains unchanged once the journal type has been used for a transaction.
    Enter Value Date

    This is used in conjunction with the Posting Journal Type when it identifies a Cash Posting. If this option is set, a Value Date must be entered on the journal. For a journal which is defined as cash, the Value Date is the date from which the cash transaction will be available for matching in Account Allocations (ACA), On-line Allocation, and Transaction Matching. For example, you may not want cash to be allocated until it has cleared through the bank which often occurs a few days after the cash is received and banked.

    Instalment Date Required

    If Instalment Checking is being used for the ledger, you must indicate whether or not the Instalment Date is required. Three options are available:

    • Optional - select this if the Instalment Date can be entered but is not mandatory.
    • Mandatory - select this if the Instalment Date must be entered
    • Prohibited - select this if an Instalment Date cannot be entered.
    True Rated

    This option identifies the true rated flag that is set on transactions for this journal type. The flag determines how the transactions are treated by particular Financials processes including matching and Ledger Revaluation (LER). This flag is used by Ledger Revaluation if the Revalue until true rated option is set in Ledger Setup.

    Three options are available:

    • Normally Rated - the transactions reference currency rates which can be revalued using Ledger Revaluation (LER)
    • Advance Rated - the transactions reference fixed future exchange rates. Transactions with this true-rated flag are withheld.
    • True Rated - transactions reference fixed exchanged ranges are not revalued by Ledger Revaluation (LER).
  3. Save your changes.
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