How To Enter A New Journal

Zumzum Financials Knowledge Base

Overview

Zumzum Financials will automatically create ledger records into the general ledger from the transactions you create, such as sales invoices, purchase invoices, bank payments and receipts. There will be occasions when you need to enter manual journals, for example posting depreciation during your period end procedure or where you need to make adjustments or corrections to your nominal account balances.

Manual journal entries will contain the transaction date, the debit/credit amounts and nominal accounts and a short reference or description.

Please note: Manual Journals do not support VAT/Tax rates and always post with the No VAT tax type. If you wish to make adjustments to your VAT/Tax amounts or VAT Return, then please post a sales or purchase invoice transaction.

Create A New Journal From The Transactions Tab

Go to the Transactions tab
Select New Journal button
Enter a Reference to make it easier for yourself in the future to understand the entry.
Select the Posting Date, today’s date will be automatically selected this can be edited.
For each journal Line Items enter the following details :
In the N/C (Nominal Code) field enter the Nominal Account code or name
Add a description to the Detail field for this line item
The VAT field will default to the No VAT tax type.
Enter the Credit or Debit amount for this line item
(Optionally) Click on the Dimensions sub tab and enter upto 6 dimensions for this line item
- Dimensions must match the Dimension field, e.g. Dimension 1 field will only accept a dimension with the Type as Dimension 1, otherwise you will receive an error.
- Dimensions must be “Active” in order to be able to save the line item.
Select Add to save this line item
- Repeat steps 5 – 11 for each line item you wish to add to the journal.
The Balance of the manual journal must be 0.00 before you are able to post the journal.
Click the Save As Draft button if you wish to work on the journal at a later date
Alternatively, select the Save and Post button to post your journal to the general ledger

Once you have selected Save and Post button or when you are in view mode, if you select the Post Journal button then you will create ledger entries into the general ledger. Your manual journal will be locked and no longer editable. Under certain conditions, you may use the Unpost Journal option to remove the ledger entries and edit the journal again. If you are unable to unpost the journal entry you will need to reverse the journal entry with another manual journal.

Create A New Journal From The Journal Tab

Go to the Journals tab.
Select the New button
Enter a Reference to make it easier for yourself in the future to understand the entry.
Select the Posting Date, today’s date will be automatically selected this can be edited.
For each journal Line Items enter the following details :
In the N/C (Nominal Code) field enter the Nominal Account code or name
Add a description to the Detail field for this line item
The VAT field will default to the No VAT tax type.
Enter the Credit or Debit amount for this line item
(Optionally) Click on the Dimensions sub tab and enter upto 6 dimensions for this line item
- Dimensions must match the Dimension field, e.g. Dimension 1 field will only accept a dimension with the Type as Dimension 1, otherwise you will receive an error.
- Dimensions must be “Active” in order to be able to save the line item.
Select Add to save this line item
- Repeat steps 5 – 11 for each line item you wish to add to the journal.
The Balance of the manual journal must be 0.00 before you are able to post the journal.
Click the Save As Draft button if you wish to work on the journal at a later date
Alternatively, select the Save and Post button to post your journal to the general ledger

Create A Journal Using Clone With Line Items

Clone an existing Journal as a new Journal

Go to the Journal that you wish to clone
Select the Clone with Line Items button.
You will be presented with a Confirmation page
Select Clone Journal to proceed with the cloning process.
All the journal information and line items will open in an Edit Journal screen.
Enter a Reference to make it easier for yourself in the future to understand the entry.
Select the Posting Date, today’s date will be automatically selected this can be edited.
For each journal Line Items enter the following details :
In the N/C (Nominal Code) field enter the Nominal Account code or name
Add a description to the Detail field for this line item
The VAT field will default to the No VAT tax type.
Enter the Credit or Debit amount for this line item
(Optionally) Click on the Dimensions sub tab and enter upto 6 dimensions for this line item
- Dimensions must match the Dimension field, e.g. Dimension 1 field will only accept a dimension with the Type as Dimension 1, otherwise you will receive an error.
- Dimensions must be “Active” in order to be able to save the line item.
Select Add to save this line item
- Repeat steps 5 – 11 for each line item you wish to add to the journal.
The Balance of the manual journal must be 0.00 before you are able to post the journal.
Click the Save As Draft button if you wish to work on the journal at a later date
Alternatively, select the Save and Post button to post your journal to the general ledger

Post A Draft Journal

You may have draft journals that you have worked on or cloned and saved for future posting. When you are ready to create ledger entries from your draft journals, you can Post your journal entry.

Follow the below steps to Post a draft Sales Invoice.

Go to the Journal you wish to post.
Click the Post Journal button
The Status of the journal will now be Posted

Once you have selected the Post Journal button then you will create ledger entries into the general ledger. Your manual journal will be locked and no longer editable. Under certain conditions, you may use the Unpost Journal option to remove the ledger entries and edit the journal again. If you are unable to unpost the journal entry you will need to reverse the journal entry with another manual journal.

Post Draft Journals From A List View

If you wish to post multiple draft journals quickly, you are able to select and post those from a list view. Create your own list view to show your draft journals that you wish to post. Please ensure you include the Status column in your list view. For speed, you may wish to clone the All list view.

follow the below steps to post your journals

Select one or more Draft journals in your list view
Click the Status field of one of your selected journals
In the pop up dialogue box that appears, change the status to Approved
- check the Update n selected items if you have more than one journal record selected
Click the Apply button
Click the Save button at the bottom of the page to apply your changed.
The status of the journals will now be Posted

Once you have posted the draft journals, then you will create ledger entries into the general ledger. Your manual journal will be locked and no longer editable. Under certain conditions, you may use the Unpost Journal option to remove the ledger entries and edit the journal again. If you are unable to unpost the journal entry you will need to reverse the journal entry with another manual journal.

Unpost A Journal

Under certain conditions, you may use the Unpost Journal option to remove the ledger entries and edit the journal again. the journal will need to meet the below criteria before you are able to use the Unpost Journal option:

The journal ledger entries must not be prior to the Account Lock Date.
The journal ledger entries must not be included in a Bank Reconciliation record which is reconciled.
The journal ledger entries must not be included in a VAT Return which is VAT Reconciled.

Follow the below steps to Unpost a journal

Go to the Journal you wish to unpost
Click the Unpost Journal button
The Status of the journal will now be Draft

You are now able to edit this draft journal and post again or delete if you no longer require.

Last Updated: 12 months ago in Manual Journal Tags: Journal, New Journal, Transactions

Does the system have the facility to set up a repeating journal at month end?