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3.2.1. New Standard Journal

Standard journals are designed to handle G/L series transactions which must be repeated frequently on a recurring basis. For example, standard journals can be used for recording the payment of monthly utility bills—or any other transactions which must be posted regularly. Once a standard journal is set up, the posting of the standard journal can then be automated using the batch manager. In this way, standard journal postings can be scheduled at daily, weekly, or monthly intervals.

To create a new standard journal, go to Accounting > General Ledger > Standard Journals > New. The following screen will appear:

Create new Standard Journal

When creating a new standard journal, you are presented with the following options:

Name

Enter a name to describe the journal.

Description

Enter a description to further describe the journal.

Transactions

Display lists transactions affiliated with the journal.

Totals

Displays the following information:

Debits

Displays total debits associated with the journal. Totals will display in red if debits and credits do not balance.

Credits

Displays total credits associated with the journal. Totals will display in red if debits and credits do not balance.

Notes

This is a scrolling text field with word-wrapping for entering notes related to the journal.

3.2.1.1.  Standard Journal Item

To add a new transaction to a journal, select the NEW button. The following screen will appear:

Add new journal transaction

When adding a new transaction to a journal, you are presented with the following options:

Amount

Specify the monetary value of the transaction.

Sense

Choose one of the following options:

Debit

Select if transaction debits specified account.

Credit

Select if transaction credits specified account.

Account

Specify the account to be used for the transaction record.