Automatic Inverse Entries

The Automatic Inverse Entries utility allows you to make offsetting entries (either debit or credit) for a selected set of one-sided, unposted Journal entries. The offsetting entries will all employ the same natural account number as the original entries.

Note: When you run this utility, you must first enter either the debit or the credit side of the repetitive entries in the Journal. They do not necessarily have to be made to the same natural account number. When you are finished, make note of the range of Journal Numbers. Debits and credits will not balance when you leave manual Journal Entry, so you will be prompted to enter the User ID and Password (if any) of a FIMS System Administrator.

1. In the General Ledger module, click the Journal Entry supertab, and then click the Automatic Entries tab.

2. Select Automatic Inverse Entries from the Automatic Entries list, and then click the Run Process button. The Automatic Inverse Entries window opens.

Automatic Inverse Entries Window

3. Select either the Debits or Credits radio button to select the type of inverse Journal entry you want to create.

4. Enter the Natural G/L Account number that you want to use for the inverse entry.

5. In the Create Inverse Entries for Unposted Journal Numbers fields, enter the range of Journal numbers that you want to create inverse entries for.

6. Click OK.

7. Verify the Send To destination, and then click the Run Report button. The Inverse Entries report opens in the FIMS Viewer.

8. Click Create G/L Entries on the FIMS Viewer toolbar. The Debit and Credit Information window opens.
NOTE: Only one of the sections (Debit or Credit) will be active, depending on the type of inverse entry you are creating.

9. In the Journal Key field, enter the Journal Key code that you want to apply to the new entry.

10. (Optional) Enter a Reference number for the new entry.

11. Enter the Apply Date for the new entry.

12. (Optional) If the entry is going to affect FACTS, enter the appropriate FACTS Confirm Date.

13. Click OK.

NOTE: You must post the entries for them to take effect.