Adjusting Entry worksheet
Input and edit various types of adjusting entries from the Adjusting Entry worksheet. Any entry posted to the worksheet will display in the Adjustments column of the Trial Balance. To access the worksheet, on the ribbon, click Account | Adjusting Entries.
Navigation
Option | Description |
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Current Entry |
Displays the entry number for the current adjusting entry. Click the drop-down menu to view a list of existing entry numbers. |
New |
Creates a new adjusting entry and automatically assigns an entry number in sequence. |
Delete |
Deletes the current adjusting entry. |
Renumber |
Renumbers an adjusting entry. |
Navigation Buttons |
Navigate through existing adjusting entry numbers. |
Entry options
Option | Description |
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Created by |
Displays the name of the user who created the adjusting entry. |
Period Type |
Select a period from the Engagement Properties | Reporting Dates tab. |
Date |
Displays the ending date of the current active period. When processing multiple periods, the date can be set to a prior or future period. For a prior period, only the year-to-date is affected, not the current period financial statement. For a future period, the current financial statement is not affected. |
Reference |
Select a document from the drop-down menu to reference the adjusting entry to it. |
Type |
Select an entry type.
|
Accounts |
Select the type of account that the journal entry affects. Only Financial entries 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.
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Apply To |
Select the corresponding grouping to create another adjusting entry with the same amount. If you select All, the value displays with any applicable group or tax code balance. This option is only available if Accounts is set to Mapping. You can only edit the corresponding grouping entry through the mapping entry. |
Misstatement |
Select a misstatement type to apply to the adjusting entry. This option is only available if Type is set to Normal adjusting, Reclassifying, Eliminating, Tax, or Other basis.
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Balance |
Select a balance to apply to the adjusting entry. |
Difference |
Select to create a temporary or permanent tax adjustment for the difference between tax and accounting balances. This option is only available if Type is set to Tax - Federal, and CCH ProSystem fx is selected as the tax vendor. The federal tax adjustment amount will display in the Permanent or Temporary column of the corresponding form, depending on the selected Tax Entity. |
Description |
Enter a description of the adjusting entry. Each line of the field can contain up to 40 alphanumeric characters. Press CTRL + ENTER to start a new line. The complete description is printed in the adjusting entry. |
Recurrence |
Select Recurring to repeat the adjusting entry over a pattern and range (defined in the Advanced... dialog). Select Reversing to reverse an adjusting entry that was made in the prior period. |
Calculated |
Select to display a calculation column in the worksheet area. You can use the column to create a calculated adjusting entry. |
Booked in General Ledger |
Select to make the entry only affect the specified period (interim balances) and not the adjustment amounts for the regular adjusting entry types. To enable this option, click Customize... | Allow Entry to be marked as having been booked in the General Ledger. The entry amount will be reflected in the Trial Balance when drilling down to a Prior Year adjustment column and then further drilling down in the Adjustment column. The affected adjustment amount will display in the column labeled Booked in the Prior Adjustment screen. Note: If you select this option and use the default date range, account opening balances will not include booked adjusting entries from prior periods on the General Ledger report. |
Recalculate |
Click to recalculate all of the calculated adjusting entries. |
History... |
Click to view the history events for adjusting entries. |
Customize... |
Click to open the Customizing Adjusting Journals Entries dialog. |
Worksheet columns
Enter data into the available columns to post an adjusting entry.
Some columns may be hidden by default. You can enable the column by right-clicking a column header and clicking Reorder Columns, then adding the column to the Active Columns list.
Column | Description |
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Entity |
Assign the adjusting entry to a specific entity. This column only displays in Consolidated files. |
Number |
Click the drop-down menu to select an account number where the entry will be posted. |
Name |
Displays the name of the account number as entered in the Trial Balance. Click ... to enter an extended description. |
Tax Code |
Select the applicable tax code for the entry. To enable this column, click Customize... | Allow Tax Type Postings. You can add or modify tax codes on the Tax Codes tab. |
Calculation |
Click ... to enter a formula that will calculate the value to include in the Amount Field. This column only displays in calculated adjusting entries. |
Debit |
Enter the debit amount of the entry. To enable this column, click Customize... | Show Debit and Credit Columns. |
Credit |
Enter the credit amount of the entry. To enable this column, click Customize... | Show Debit and Credit Columns. |
Cumulative |
Displays the cumulative amount of the adjustments booked for each account. The amounts showing in the Cumulative column reflect the balances from all instances of the recurring entry, up to and including the entry being displayed, but not subsequent instances of the entry. |
Tax Amount | Calculates the tax amount based on the values entered in the Total Amount and Tax Code columns. To enable this column, click Customize... | Allow Tax Type Postings. |
Total Amount |
Enter the debit or credit amount of the entry. You must apply a minus (-) to the amount to designate a credit. |
Reference |
Select an individual reference number for each line of the adjusting entry. To enable this column, click Customize... | Allow Individual Reference Numbers. |
Annotation |
Displays line annotations, notes, references, or tickmarks for the entry. |
Customize options
Customize the appearance and function of the Adjusting Entry worksheet.
Customize tab
Option | Description |
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Allow Tax Type Postings |
Select to enable the entry of tax amounts in adjusting entries. This option also adds a Tax Code and Tax Amount column to the worksheet, and renames the Total Amount column to Amount. Clearing this option will not eliminate any existing tax entries. |
Show Debit and Credit Columns |
Select to split the Total Amount column into separate Debit and Credit columns. Selecting this option removes the need to enter a minus (-) for credit amounts. |
Allow Individual Reference Numbers |
Select to add a Reference column to the worksheet. |
Only Show Active Period Entries in Listing |
Select to display only entries from the current period in the Current entry drop-down menu. Clear this option to show all entries. |
Show Cumulative Amount when making a Recurring Entry |
Select to add a Cumulative column in recurring entries that displays the cumulative amount of the adjustments booked for each account. |
Allow Entry to be marked as having been booked in the General Ledger |
Select to display the Booked in General Ledger option. |
Show extra Adjusting Entry types |
Select to add two additional adjusting entry types. These types appear independently on the Trial Balance and Grouping automatic documents. |
Tax Codes tab
View, create, and modify the list of tax codes that you can apply to adjusting entries. For more information, see Create a new tax code.