Post a transaction

When you post a transaction to a journal in the Other Entries worksheet, it will display in the Transactions column of the Trial Balance.

To post a transaction:

  1. On the ribbon, click Account | Other Entries.
  2. On the Other Entries worksheet, click the journal tab where you want to post the transaction.

  3. Select the applicable options for your transaction.

    Option Description
    Period

    Select the period date of the transaction. The default period is always the current active period as specified in Engagement | Engagement Properties | Period Balances.

    Notes:

    • You can change the period number for a journal so that the transaction posts to a future period.
    • You must enter prior period transactions as adjusting journal entries.
    Auto increment reference no.

    Select to automatically increment the reference number when entering multiple transactions.
    Balancing Account

    Select a balancing account from the drop-down menu. The balancing account is useful if you are posting a batch of transactions to one account. The same account from different entities can be used as a distinct balancing account in a journal. Using a balancing account eliminates the need to enter each transaction separately.

    Note: The balancing account entry is only written for the period specified in Engagement | Engagement Properties | Period Balances under Period Date Sequence for Other Entries Screen. When the period is set to yearly, only one balancing account record is created at the end of the year. Change the period sequence to create balancing account records at the end of each period.
    Balancing Entity

    Displays the name of the entity for the selected balancing account. N/A displays if the user is in a non-consolidated file or if no balancing account is selected.
  4. Complete the worksheet columns for your transaction.
  5. Enter the transaction amount. If the journal uses the Total Amount column, enter credit amounts with a minus (-).

The transaction is posted to the applicable journal.

Notes:

  • You must select Allow transaction entry in Other Entries screen in the Engagement Properties before you can enter transactions in the file.
  • To delete a transaction, select it, then on the ribbon, click Account | Delete.
  • Press + on your keyboard's numpad after the amount to repeat the reference number and description information of the previous transaction.
  • You can split the Total Amount column into a Debit and a Credit column by customizing the journal. When the columns are split, you no longer need to apply a minus (-) for credit amounts.