General Journal Entry

How Do I...

You use the General Journal to enter those types of transactions that are not readily categorized in the Tasks menu. Depreciation would be an example of something that would be entered into the General Journal.

In General Journal Entry, you can also enter withdrawal and deposit adjustments you need to make during account reconciliation. Sometimes adjustments must be made to account for errors, service charges, check charges, or unrecorded withdrawals or deposits; such adjustments are necessary to help keep your bank account balanced. When you select the Add New button and then choose General Journal Entry in Account Reconciliation, the General Journal Entry window opens so you can enter this adjustment data.

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Closed Recording General Journal entries

Unlike other screens in Sage 50, you provide all the accounting distributions in the General Journal. At other times, Sage 50 automatically distributes certain amounts, based on the default General Ledger accounts you set up in maintenance windows.

In the General Journal, you enter both debits and credits, and when the amounts balance, you can post the General Journal by selecting the Save button if you're using the real-time posting method. If you are using the batch-posting method, select the Save button; then use the Post option from the System selection of the Tasks menu. If you are using the SmartPosting posting method, select the Save button; SmartPosting will automatically post the General Journal for you.

Record a General Journal entry

Closed Making reversing General Journal entries

Reversing entries are made to the General Journal on a temporary basis. They're often used to reflect the expenses of a business as shown on a monthly financial statement.

Enter a reversing General Journal entry

ClosedIs this an entry you make on a regular basis?

Sage 50 has different methods for handling General Journal entries that you make on a consistent basis. Memorized transactions are like a template that you can quickly flesh out for specific transactions. They are not posted to the general ledger. Recurring transactions are complete transactions you set up to happen on a set timetable—monthly, quarterly, yearly, etc. An example would be if you have a contract with someone to provide a monthly service. You can also create a new journal entry by copying an existing one.

Copy a General Journal entry

Enter a memorized General Journal entry

Enter a recurring General Journal entry

ClosedPrinting a General Journal entry

Select the Print button to print the journal entry that is shown on the General Journal Entry screen.

If you want to print multiple journal entries, such as all journal entries in a certain period or for a certain account, you can print the General Journal report from Reports & Forms>General Ledger.

Closed Help with specific fields or buttons

For Help with a field in the General Journal Entry window, click the link.

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Date

Reverse Transaction

Reference

GL Account

Description

Debit

Credit

Job

Totals

Out of Balance