Adjusting Journal Entries Interface

Displays the reference number of the current journal entry being entered or edited.

Tip: Click the menu drop-down button to access a list of existing reference numbers or enter a new reference number.

Creates a new journal entry. Enter the reference number for the new entry in the Current Entry box. The reference number is alphanumeric and can consist of up to 20 characters.

Deletes the current journal entry.

Renumbers an adjusting entry. The Renumber Entry button becomes available after selecting an adjusting journal entry. The reference number is alphanumeric and can consist of up to 20 characters.

Navigate (skip to the first, previous, next, and last journal entries) between adjusting entries.

Tip: Pressing the Tab or Enter key will move to the next field.

Select a period from the available selectors set on the period date sequences in the Engagement Properties Reporting tab.

Displays the date of the journal entry. The date defaults to the end of the current active period. However, for processing multiple periods, the date can be for a prior or future period. If the period date is for a prior period then only the year to date and not the current period financial statement is affected. If the period date is for a future period, the current financial statement is not affected. When moving to this future period, these entries are properly recorded. It can be modified as necessary by typing or selecting a date from the drop-down mini-calendar.

Select a reference number to reference an adjusting entry to a document in the Document Manager.

Select an entry type from these available types: 

Select the type of account that the journal entry affects. Only entries marked Financial will post to normal accounting records. All other types can be used to adjust balances or to add information to the accounts for display, reclassification or information purposes only. For example, if a client file had a set of financial statements that had to be presented based on both local country accounting standards and IFRS then differing reporting requirements might require information to be classified in two distinct ways. Entries could be booked to separate groupings and reports could be generated from those groupings - without having to formally adjust the trial balance. Calculations update based on the entries made but the working trial balance itself is not updated. However, any calculations using the Map or group calculations do reflect the adjustments. Available account types are the following: 

Financial	Select Financial to create entries that adjust accounts in the client's chart of accounts.
Cash Flow	Select Cash Flow to create entries that adjust accounts on the Statement of Cash Flow. Cash Flow entries are not recorded in the normal accounting records.
Performance	Select Performance to record activity used in the analysis of performance measures (for example, waste management, employee expenditures, etc.).
L/S	Select L/S to create entries that adjust accounts on Leadsheet grouping. L/S entries are not recorded in normal accounting records, but they do roll forward on year-end close.
Group 1 to 10	Select any Group 1 through 10 from the list to create entries that adjust accounts in any grouping. Grouping adjustments are not recorded in normal accounting records.
Mapping	Select Mapping to create entries that adjust mapping account balances. Mapping adjustments are not recorded in normal accounting records. To help locate the map numbers, the heading lines from the map setup also display in the drop-down. See the Apply To option below to apply the adjustment to a grouping.
Tax Export Code	Select to create entries that adjust tax export code balances. These are not recorded in normal accounting records.
M3 Code	Select to create entries that adjust M3 code balances for US tax entities (excluding Non-Profit). These are not recorded in normal accounting records.

Select the corresponding grouping to create another journal entry with the same amount. Select a group to which the value should apply, or select All to have the value appear wherever any applicable group or tax code balance appears.

Important: This function is only available for Mapping type account.

Notes:

• If you delete or modify a line in the adjusting entry of the map number, the corresponding entry in the grouping entry will also be deleted or modified. The corresponding grouping entry can only be edited through the mapping entry.

Select a misstatement type to apply to the journal entry.

Important: This option is only available when the adjusting entry type is set to Normal adjusting, Reclassifying, Eliminating, Tax, or Other basis.

Select whether the entry should be applied to the actual (N/A), Budget, Forecast, or any Custom Balance created in the client file.

Enter a description of the journal entry. The description area is scrollable and can be as detailed as necessary. This description field wraps text automatically. Each line of the field can be up to 40 characters long. Press CTRL+ENTER to begin a new line in the Description box. The complete description is printed in the adjusting journal.

Select Recurring to repeat the journal entry over a pattern and range set in Advanced.... Select Reversing to reverse an adjusting journal entry made in the prior period.

Notes: When using SmartSync (i.e. in a synchronized copy of a file), it is recommended that you only modify recurring/reversing entries while Online and that only one person should edit the recurring/reversing entries at a time.

Select to display a calculation column that can be used to create a calculated adjusting journal entry. Click to enter a formula to calculate the value to be included in the Amount Field. Calculated entries can be useful for situations such as eliminating entries where users want to ensure the amount being eliminated reflects the most up-to-date value for the account.

Note: If all calculated lines in an entry are blank, then this check-box is automatically cleared.