Post Journal Entries
The Post Journal Entries routine allows the user to post transactions to the GL. One-Sided Journal Entries (i.e. for Month End Adjustments) may only be made if the user has entered the correct "One-Sided" accounting password. Similarly, transactions can only be posted to closed/future periods if the user has entered the correct "Closed Accounting Period" accounting password.
When the Post Journal Entries routine is accessed from the eQuinox main menu, the screen shown below will be displayed.
Field Definition
The first two fields on the screen are the Journal Type (JE) and the Journal Number. These values are automatically displayed by the system.
Posting Date - The date the transactions are being posted to the GL. The default is the system date, but this may be changed by selecting a different date from the calendar, or by manually entering a different date in the proper formats.
Acct Period - The Month (in number format) and Year of the Firm's current Accounting Period. This field automatically defaults to the current Accounting Period. Note: Depending on the Firm's preferences (as indicated in the Firm Parameters routine), the user may be alerted with a message when posting the Journal Entries, and asked to verify the Accounting Period; this is used to ensure that all transactions occur within the correct Accounting Period.
Closed Acct Period - Before posting transactions to a closed Accounting Period, the user must provide the correct accounting password. Note: Posting to closed accounting periods should be done with caution, as it will affect the GL closing balances!
One-Sided Password - Before posting one-sided or unbalanced transactions to the General Ledger, the user must provide the correct accounting password.
Total Credit And Debit Entered - The total amount that is being debited or credited during this posting. These fields will automatically be filled with the sums of the debit and credit amounts entered below.
GL Account - The number and name/description of the General Ledger Account that is either debited or credited during the transaction. The account may be selected from the List of Values provided. Both the account number and the account description/name are displayed once a selection has been made.
Timekeeper Department - The unique identifier for the Timekeeper Department with which the transaction being posted is associated (i.e. the Timekeeper associated with this transaction belongs to this Department). The information may be selected from the list of values provided. Once a selection is made, the Department ID is displayed in this field, and the Department Name is displayed below.
Matter Department - The unique identifier for the Matter Department with which the transaction being posted is associated (i.e. the Matter associated with this transaction belongs to this Department). The information may be selected from the List of Values provided. Once a selection is made, the Department ID is displayed in this field, and the Department Name is displayed below.
Transaction Description - A description of the transaction that is being posted to the General Ledger. Transaction Descriptions should contain information about why the Journal Entry is being performed (i.e. "To transfer Audit Journal DS 254 to Month 8"). Note: The user cannot post two entries that have identical descriptions. When considering this, keep in mind that this field is case sensitive (i.e. so "Transfer" is different than "transfer").
Timekeeper Dept - The name of the Timekeeper Department with which the transaction being posted is associated (i.e. the Timekeeper associated with this transaction belongs to this Department). This information is specific to the record selected in the GL Transaction Details section.
Debit Amount, Credit Amount - The amount that is debited or credited to the specified GL Account during the transaction. The sum of the debit amounts MUST match that of the credit amounts unless the user is making a One-Sided Entry, for which an accounting password is required. These amounts will be displayed in the Total Debit and Total Credit fields at the top of the screen.
Matter Dept - The name of the Matter Department with which the transaction being posted is associated (i.e. the Matter associated with this transaction belongs to this Department). This information is specific to the record selected in the GL Transaction Details section.
Once the user has finished entering or updating information, they must click the Save button or press F10 to commit the changes to the database.