Create a new journal

You can create an unlimited number of journal types in a Working Papers file. When you create a new journal type, it will display as a tab in the Other Entries worksheet.

To create a new journal type:

  1. On the ribbon, click Account | Other Entries.
  2. On the Other Entries worksheet, click Customize.... The Customize Journals dialog displays.
  3. On the Journals tab, click New....

  4. Complete the New Journal dialog as required.

    Option Description
    Journal ID

    Enter a unique two-character ID for the journal. After posting a transaction to the journal, you cannot modify the ID.
    Description

    Enter a description of the journal to display on the tab in the Other Entries worksheet. The description can contain up to 35 characters.
    Extended Description

    If required, enter an extended description of the journal. The extended description does not display on the printed document.

    Allow Tax Type Postings

    Select to permit tax transactions in the journal. Tax transactions calculate based on the tax code selected in the Default Tax Code drop-down menu.

    Default Tax Code

    Select a tax code to use when calculating tax transactions in the journal. You can add or modify tax codes from the Tax Codes tab of the Customize Journals dialog.

    Show Debit and Credit Columns

    Select to display both Debit and Credit columns for the journal on the Other Entries worksheet, rather than the single Total Amount column.

    When this option is enabled, you no longer need to apply a minus (-) to credit amounts when posting transactions.

    Manual Tax Amount Entry

    Select to permit manual tax entry for tax codes where Allow manual tax amount override in journals is enabled. Manual tax entries are used for reference purposes only and are not posted to the General Ledger.
    Account Type

    Select the account type that transactions in the journal will affect. After posting a transaction to the journal, you cannot modify the account type.

    • Financial: Affects accounts on the Balance Sheet or Income Statement.
    • Cash Flow: Affects accounts on the Statement of Cash Flow.
    • Performance: Affects accounts that measure performance.

    Click OK.

The journal is created and added as a new tab in the worksheet.

Notes:

  • You can customize existing journals by selecting the journal, then clicking Edit.
  • You can delete a journal by selecting the journal, then clicking Delete. You can only delete a journal if it does not contain any current entries.
  • You can also access the Customize Journals dialog by clicking Tools | Options | Journals.