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.
Learn More
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
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
Is
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
Printing 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.
Help
with specific fields or buttons
For Help with a field in the General Journal Entry window,
click the link.