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Datasets - Journals

Workflow Concepts


Reportance allows a user to use any workflow pattern that they are comfortable with. Generally, this falls into one of two main patterns:


1) Perform changes in the Reportance and export in bulk at the end of the job 


Here, the basic flow is as follows:

  1. Import the client accounting file into Reportance at the start of the job
  2. Make changes by creating journals inside of Reportance
  3. At the end of the job, export a balancing journal and enter into the client accounting software
  4. A user may or may not reimport the client accounting file into Reportance after this process to confirm both are identical


In this system, journals are used to perform all changes. Reportance will let you create these journals, and will provide a balancing journal comprising all these changes after the end of the job.  


2) Working with the Live File


Here, the basic flow is as follows:

  1. Start by importing the client accounting file into Reportance
  2. Make changes directly in the live client file
  3. Reimport the client accounting file on a regular basis into Reportance so it reflects changes made.


In this system, journals would only be used in Reportance to perform 'Presentation' based changes which the user does not want to be reflected in the client file. 

For example; The client file may have an account that represents GST Payable, which movies into positive and negative over multiple years. In Reportance you could do a 'presentation' journal to move the balance in one year to an equivalent 'GST Receivable' account, without impacting the client file.


In Reportance, you can create a journal in any Dataset, including in Datasets which have no trial balance, which means it is also possible to use the journals as a method of creating an accounting file or trial balance from scratch.


Creating Journals


Navigate to and open the relevant Dataset, click on the Journals tab. To create a new journal click + New Journal, as shown below:



When creating and editing journals, the following fields are relevant:


FieldDetailValidation
Journal Details
Journal No.This is automatically created by Reportance and can be edited. You can use this to identify your journals.Required
DateThe date represents the posting date of the journal. Be careful to ensure that the date entered is inside the dataset date range.Required
MemoThis is for your reference and internal use only. It is a field put any additional notes about the journal.
Export Journal to Client File (Checkbox)This is to set the status of the journal. If this field is ticked it will be included in the balancing journals. Generally, this is unticked for presentation journals. I.e. Journal only exists to make the reports presentable. Ticked by default. 

Journal Lines
Account NoThe account number is the number assigned to the chart. Simply type the account name and/or number and select the appropriate account from the drop-down.
To create a new account enter a new unique value.

Account NameIf you selected an existing account above the Account Name will automatically populate.
If you created a new Account by entering a unique value give the new account a new name in this field.
Required
Class*If you selected an existing account above the Account class will automatically populate.
If you created a new account by entering unique values above give the new account a class in this field.
Required
(see below for available classes)
DebitAmount to be debited in the account* At least one DR or CR is required
CreditAmount to be credited in the account* At least one DR or CR is required
QuantityThis is where you can put the number of items for calculations such as Livestock. 
DivisionIf you are using divisional reporting this is where you can select the correct division.
See the Divisions knowledge article for more information.

MemoThis is for your reference and internal use only. It is a field put any additional notes about this individual transaction line. 


Available Classes


A class of an account is used by Reportance to help automatically link accounts to the master chart of accounts. The available classes are listed here:


Class
Assets
Liabilities
Equity
Revenue
Cost of Sales
Expenses
Other


        


If you use more than the 5 available lines, simply click Add Lines to see additional lines.


To post the journal click on Add Journal



Editing a Journal


Navigate to and open the relevant Dataset, click on the Journals tab and select the relevant journal from the menu. The fields which are editable are the same as when creating a journal. 

After editing the journal click on Save Journal.



Journal Status


The status of a journal can change as the job progresses. By default, any imported journals will be marked as Imported and any newly-created journals will have the status "Pending Export"


To learn more about updating the journal status see the knowledge article, Datasets - Balances


The following is a list of statuses for journals:

  • Imported Balances
  • Not Exporting
  • Pending Export
  • Exported
  • Balancing



Right-Click Menu


From anywhere within the journal's section you can right-click your mouse to bring up the following menu options. 


Note: 


Exporting via the right-click menu does not update the status of the journal - this needs to be done in the Datasets-Balances section. 

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