Objective

The standard journal entry allows for any kind of manual journal entry required for the client.

Applies To

  • AccountsPrep integrated companies.

Procedure

A standard journal entry must be made on a specified date within the current period, and all lines must follow this date (unlike a double journal entry where you can have multiple lines for different dates).

Description

Use the description field to best describe (in short) the entry for other users


Type

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)

  • Accrual (Accrual)

  • Prepayment (Prepay)

Checkboxes

As with all entry types, our fast-code feature is available.

If you are 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 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 Standard Journal Entry

As with all entries, we offer the ability to import a journal - this can be useful if there are lots of lines (rare in the case of adjusting journals).

From the Journals homepage, select the arrow to the right of the 'Add Journal' button and select 'Import Standard Journal'. The next screen will guide you through some simple steps on importing - there are two simple .csv file templates to choose from!

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