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    Journal Entry Record
    • 26 Jul 2024
    • 2 Minutes to read
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    Contents

    Journal Entry Record

    • Updated on 26 Jul 2024
    • 2 Minutes to read
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    Article summary

    Journal entries are a fundamental component of the accounting process in R365. Creating a new journal entry allows users to record and manage financial transactions that are not automatically captured through other processes. These entries serve as a way to adjust the general ledger and ensure that financial statements accurately reflect the business's financial activities.

    This article describes the fields and controls on the Journal Entry record. For more information about adding a journal entry, see Create a Journal Entry.

    Field

    Description

    1

    Save

    Provides the following options for saving the record:

    • Save - Saves the record and remains on the current page.

    • Save and New - Saves the record and opens a new, blank record.

    • Save and Close - Saves the record and closes the page.

    2

    Approve

    Provides the following options for approving the record:

    • Approve - Approves the record and remains on the current page.

    • Approve and New - Approves the record and opens a new, blank record.

    • Approve and Close - Approves the record and closes the page.

    3

    Action

    Provides the following actions that can be performed on the record:

    • Reverse

    • Memorize

    • Import

    • Email Link

    • Spread

    • Use GL Allocation

    4

    Status

    Displays status information and references for the journal entry, including:

    • Current approval status.

    • Link to the account used for bank reconciliation, if applicable.

    • Link to the clearing payroll journal entry, if applicable.

    5

    Date

    Date of the journal entry. For most payroll journal entries, this is the same as the last day of the pay period in which the transaction is recorded.
    Default: Today's date.

    6

    Location

    Location to which the payroll journal entry is assigned. For most payroll journal entries, this is the corporate locate of the legal entity that owns the account from which funds are withdrawn. Individual payroll expenses are broken down by more specific locations in the Details tab.

    Note: If your company does one payroll entry per legal entity, then all locations can be cleared for the legal entity in the same entry. To set this preference, navigate to the Miscellaneous tab of System Preferences and set Payroll Clearing to Per Location or Per Legal Entity.

    7

    Link to Asset

    When selected, items in the Details tab can be linked to assets.

    8

    Number

    A system-generated number used to identify the transaction.

    9

    Comment

    An optional field where the user can enter comments about the journal entry.

    10

    Type

    Type of journal entry. For payroll journal entries, this field is set to Payroll and is read-only. When importing journal entry data, Payroll must be written in the Type column for the import to be successful.

    11

    Details tab

    Allows the user to enter the full journal entry transaction and link to assets, if applicable.

    12

    Upload Link

    Opens a file manager window from which the user can import journal entry data from their device.

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