About the GL Journals Form

The GL Journals form allows you to set up the journals to collect accounting information posted in this and other modules.

These journals typically are named to conform to your subsidiary ledgers. Additional journals and/or Journal References may be set up in order to group any details that you find helpful.

Journal Names and Descriptions

Journals are typically identified as AP, AR, EM, IN, JC, PR, and so on, to conform to your subsidiary ledgers. You may also set up journals for automatic reversing entries if you wish to group them separately.

Automatic Reversals

If the entries in this journal should be reversed in some future period, check the Auto Reverse option. Then, indicate the journal that should receive the reversing entries in the Reversal Journal field.

Journals flagged for reversal generally contain entries that are made in one month to accrue or estimate amounts that are to be reversed in the following month when actual entries are made in the subsidiary ledger or in GL Journal Transaction Entry. A typical use of this feature is to recognize revenue and expenses for percentage complete on work in process.

For information about journal references, see Journal References.