Total Legal Accounting 3
SECTION 6.3.3 - GENERAL LEDGER JOURNALS
USAGE: To enter ad hoc debits and credits into the General Ledger. This is useful for shifting balances between accounts, and for making entries that do not affect the bank.
DISCUSSION: When you start the JOURNALS program, the computer will initially ask:
ENTER PERIOD [_7] JANUARY 2003
Journals can only be entered one accounting period at a time. Otherwise period based reports would not balance. By default, the current period is offered, however you may change the period to any number from 1 to 15. If you need to shift a balance from period to another, it will have to be made via a pair of transactions using an intermediate account such as a suspense account.
Enter the period number that pertains to the entries you wish to make and press <Enter>.
The screen will now change and ask for the payment lines. The period you are working in is displayed near the top-left-hand corner of the screen. Also, the net value of the journal you are creating is displayed near the top-right-hand-corner of the screen. This is a useful reference when you are entering a dissected payment. You will not be able to update the journal until the net value (balance) is zero.
There are several fields you will need to enter for each line:
DATE This is the transaction date. It must be within the accounting period you have defined, above. By default, T.L.A. will offer today’s date or the last date you used. You can use <F1> to specifically enter today’s date.
ACCOUNT This is the General Ledger account you wish to post to. It may be any valid existing account. If you do not remember the account code, <F9> is available for searching the General Ledger master-file. After choosing an account, T.L.A. will also display the Expected Sign and Current Value of the account, as a reference. This value is read once and is not updated until you post your transactions. From the second line onwards, <F1> is available to repeat the account number. This can save time if you are entering a series of dissections that post to the same account but with different descriptions and amounts.
DETAILS Here you enter the details of the journal. This field must not be left blank. From the second line onwards, <F1> is available to repeat the description from the previous line. This can save time if you are entering a series of dissections that have similar descriptions.
VALUE Here you enter the value of the line. The value must not be zero. You must always enter the value as a positive amount. The sign of the transaction can be DB or CR. By default T.L.A. will choose the sign based on the expected sign of the account. If you need to change the sign, make sure that the value is zero and then press <Enter>.
At each point you may press <ESC> to abort the line or the whole transaction.
If you have entered at least one line of a dissected transaction, you may press <F5> (at the DATE field) to enter the REVIEW function. This function allows you to view your entries, and if necessary change or delete a line. To move between lines use <CsrUp>, <CsrDn>, <PgUp>, <PageDn>, <Home> and <End>. If there are a particularly large number of lines, you can also use <F9> to go to a specific line number. To modify a line, make sure it is displayed in full in the bottom window and press <F3>. You can then re-enter any of the details. To leave the REVIEW function, press <ESC> or <F10>, once.
To finally update your transaction, press <F10>. <F10> will not be available unless there is at least one line entered and the BALANCE is zero.
Files updated by the General Ledger Journal program:
General Ledger master-file: Each account balance is updated in the chosen period with the value of each line.
General Ledger transaction-file: A transaction is posted for each transaction line.