Process General Journals

Steps to Create a General Journal

• Create a Journal:

  • Clone an existing General Journal or click "New."

• Update Posting Date:

  • Set the posting date on the header.

• Fill in Line Details:

  • Enter GL Account, Debit, Credit, or Amount in the lines section.

  • Both positive and negative amounts can be entered.

Additional Tagging (Optional):

• Tag lines with account information (Customer/Vendor) or Accounting Variables 1 to 4.

Review and Post:

• Ensure the Total Amount equals 0.

• Post the General Journal.

GL Entries will be created.

Restrict Posting Access:

• Create a custom page layout without the "Post" and "Unpost" buttons for users who shouldn't post journals.

Managing Journals

• Batch Post/Unpost:

  • You can batch process these actions from the list.

Posting Rules for Subledger Accounts:

• Do not post directly to accounts with subledgers (e.g., Accounts Receivable/Payable and Inventory accounts) and Currency Year Earnings GL Account.

• Use Sales/Purchase Invoices or Item Journals for these accounts.

• Exception: Elimination entries can bypass this rule.

To temporarily bypass the subledger posting restriction, follow these steps:

1. Replace GL Accounts Temporarily:

   • Update the GL Accounts in the Company Setup with accounts that are not in use.

2. Prevent Posting by Other Users:

   • Ensure no users are posting transactions while these changes are in effect.

3. Revert Changes After Posting:

   • Once the necessary entries are posted, revert the GL Account setup to its original state.

GL Accounts Filtering:

• To avoid using certain accounts in General Journals, mark them as "Do Not Use" in the account's settings.

Foreign Currency Handling

• For GL Accounts with a Foreign Currency Code, enter both the Foreign Amount and Currency Code. GoldFinch will track balances in both base and foreign currencies.