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.
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.
Navigate to and open the relevant Dataset, click on the Journals tab. To create a new journal click + New Journal, as shown below:
|Journal No.||This is automatically created by Reportance and can be edited. You can use this to identify your journals.||Required|
|Date||The date represents the posting date of the journal. Be careful to ensure that the date entered is inside the dataset date range.||Required|
|Memo||This 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.|
|Account No||The 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 Name||If 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.
|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.
(see below for available classes)
|Debit||Amount to be debited in the account||* At least one DR or CR is required|
|Credit||Amount to be credited in the account||* At least one DR or CR is required|
|Quantity||This is where you can put the number of items for calculations such as Livestock.|
|Division||If you are using divisional reporting this is where you can select the correct division.|
See the Divisions knowledge article for more information.
|Memo||This is for your reference and internal use only. It is a field put any additional notes about this individual transaction line. |
|Cost of Sales |
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.