Journal

Objective

• To capture the process of passing journal transaction entries.

Introduction

• Journal relates to basic transaction entries between two or more accounts
• There are four types of journal entries in Cittaerp as follow
  1. Standard Journal
     • This is basic as no further action after the journal is posted
  2. Recurring Journal
     • After the journal is posted, the journal automatically recur based on the rules as set by the user at the time of creating the original journal.
     • Recurring journal is commonly used for prepayment amortization, periodic accruals, etc
  3. Auto-Reversing Journal
     • After the original journal is posted , the original journal auto reverse based on a specific date based on the rules set by the user at the time of creating the original journal
  4. Period Waiver Journal
     • This is unique journal that can be posted to a closed period
     • This requires special authorization to process
     • The period waiver posting needs to be enabled and activated by authorized user for this to work
• Each of the journal type has a unique workflow approval route

Process

1. Go to General Ledger>>Transaction>>Journal
2. Click the (+) to add new journal, the following header screen appears

Standard Journal-Header

1. Select Document Type as Standard Journal
2. Completes other relevant fields
3. Click Create Batch Button
4. The Journal Detail screen opens

Recurring Journal-Header

1. Select Document Type as Recurring Journal
2. Enter Number of Cycle
   • This is number of times the journal will be repeated and recur
3. Enter Cycle Interval
   • This is number months gap between each running cycle. Is it every 1 month, 3 months etc
4. Completes other relevant fields
5. Click Create Batch Button
6. The Journal Detail screen opens

Auto Reversing Journal-Header

1. Select Document Type as Auto Reversing Journal
2. Enter the future Reversing Date of the Journal
3. Completes other relevant fields
4. Click Create Batch Button
5. The Journal Detail screen opens

Period Waiver Journal-Header

• Select Document Type as Period Waiver Journal
• Enter the back period value date of the journal transaction
• Value dates determines back period to post the transaction
• Completes other relevant fields
• Click Create Batch Button
• The Journal Detail screen opens

Journal -Detail

1. Select Transaction Type .
   • This define nature of the entry as either debit or credit
2. Select the post class
   • This relate to the module source of the entry
3. Select the post code
   • This is the code or ID for the individual accounts for posting from the selected post class
4. Enter the amount
5. Completes other relevant fields
6. Click Create Entry
7. Entry is listed in the entry box at the bottom of the screen
8. Enter multiple entries as may be required
9. Click Submit for Processing button
10. The system validates to ensure total debit is equal to total debits
11. Transaction goes through a defined workflows approval route
12. At final approval,
    • System updates relevant accounts automatically