This chapter contains these topics: Show
2.1 Objectives
2.2 About Journal Entry ProcessingUse journal entries to add transactions to or adjust accounts in your general ledger. Effective journal entry processing is fundamental to the accuracy of your general ledger. Journal entry processing consists of:
All JD Edwards World systems use three-tier processing to manage batches of transactions. Journal entry processing is an example of three-tier processing. The term three-tier refers to three necessary steps that you perform. The following graphic illustrates three-tier processing. 2.2.1 Where Are Journal Entries Generated?Journal entries are generated in two places:
2.2.2 What Are the Types of Journal Entries?You can adapt the journal entry process to meet your needs by using the following types of entries:
2.2.3 When Do You Review and Approve Journal Entries?After you enter journal entries, you can review and approve them at any time during the general ledger period before posting. Only approved batches of transactions are eligible to be posted. Use the review function to:
2.2.4 What Happens When You Post a Journal Entry?After you review and approve journal entries, you post them to the general ledger. The post program:
2.2.5 How Are Balances Maintained?You can process journal entries for different types of accounting information needs using different ledgers. The system uses ledger type codes to separate balance amounts and units for each ledger. The following shows some examples of ledger type codes and their corresponding ledgers:
The following graphic illustrates how the system maintains various account balances. 2.2.6 What Are the Types of General Journal Reports?You can print a general journal report to examine journal entry transactions before you post them to the general ledger. Printed reports provide an alternative to reviewing the general journal online. They are especially helpful when you are researching out-of-balance conditions. You can select from three types of reports:
What is used to document journal entries that are made in the general journal?A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.
How do you record entries in the general journal?Journal Entry Format
Each journal entry includes the date, the amount of the debit and credit, the titles of the accounts being debited and credited (with the title of the credited account being indented), and also a short narration of why the journal entry is being recorded.
What are the 4 main parts of a general journal?It consists of 4 or 5 columns:. Date of transaction.. Short description/memo.. Debit amount.. Credit amount.. A reference number (referencing to journal ledger as an easy indicator). What is a general journal entry used for?The purpose of a journal entry is to physically or digitally record every business transaction properly and accurately. If a transaction affects multiple accounts, the journal entry will detail that information as well.
|
Which of the following are used to document journal entries that are made in the general journal
zusammenhängende Posts
Urheberrechte © © 2024 IlerngutCOM Inc.
