The double journal entry allows you to post to both the debit & credit side accounts, for the same amount on the same date in a single line entry - thus saving you some time in many cases! This article will provide a brief overview of the process within AccountsPrep.
AccountsPrep integrated companies.
The double journal entry allows for any kind of manual journal entry required for the client.
It tends to be quicker to write-up manual journals using a double entry rather than standard entry depending on what the entry involves. You can also use various dates (within the current period) for different lines within a single batch entry this way.
Use the description field to best describe (in short) the entry for other users.
You may select any of the following types to describe the entry (useful when reviewing through the general ledger):
Adjusting Journal Entry (AJE)
Reclassification Journal Entry (RJE)
As with all entry types, our fast-code feature is available.
If you are just doing a short on-screen journal entry, you can use the fast-code feature for entering the same line descriptions for all lines in the journal:
As with any other batch entry, you can check multiple lines and change the date, Reference or Account fields in order to speed things up. It's up to you to choose how best to make use of these tools based on the entry itself, but that's one tip to save a little time!
Import Double Journal Entry
As with all entries, we offer the ability to also import a journal - this can be useful if there are lots of lines.
From the Journals homepage, select the arrow to the right of the 'Add Double Journal' button and select 'Import Double Journal'. The next page will then guide you through some simple steps on importing.