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    Journal Entry Tab
    • 24 Jun 2024
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    Journal Entry Tab

    • Updated on 24 Jun 2024
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    Journal Entry Tab

    The Journal Entry tab allows you to enter or edit General Ledger Journal entries.

    FIMS automatically creates most common Journal entries when you post transactions from subsidiary modules (for example, Gifts, Grants, Pledges, Accounts Payable, or FACTS). You can view these entries here, but you should make any corrections in the originating subsidiary module, so the detailed history in the module will tie out with General Ledger balances.

    NOTE: You can edit entries that are created by the Automatic Journal Entry utilities, because they do not have any subsidiary module history. Refer to Working with Automatic Entries for more information.

    NOTE: A warning message will appear if you attempt to make a manual Journal entry to a Gift Revenue or Grant Expense account (as determined by the Fund Class record). This is because any activity that affects those accounts should normally originate from the appropriate subsidiary modules. For example, if you make a Journal entry for a Gift that was not entered via the Donor and Gift Management module, then the modules will be out of balance with one another.

    Journal Entry Tab

     

    Journal Entry Tab Fields

    Field

    Description

    Journal Key

    The Journal Key code that indicates the category for the selected entry.

    FIMS automatically assigns some of these codes when it makes automatic entries from subsidiary modules (for example, GI for posted Gifts or AP for entries from Accounts Payable).

    Refer to Maintaining Journal Key Codes for more information on setting up Journal Keys.

    NOTE: You can set a default Journal Key code for manual Journal entries. Refer to System Options – General Ledger for more information.

    Entry Date

    Read-only field that indicates the date when the journal entry was made.

    Apply Date

    The date that indicates the month that the entry should be applied to.

    This date determines the period that the entry will be posted to in the General Ledger.

    NOTE: The Edit Report will return an error for an entry with an Apply Date prior to the Close by Date. Refer to Closing Modules by Date for more information on setting this date.

    Fiscal Year

    The fiscal year associated with the entry (read-only).

    Reference

    A meaningful reference number for the entry (for example, a Grant number, or a payroll document number if payroll is done by a service).

    Automatic postings are automatically given a relevant Reference number. You can also add a number to identify a related group of entries.

    NOTE: When you enter text into this field for manual Journal entries, the same text will automatically be added to each subsequent entry.

    Batch

    An optional field that you can use to identify Journal entries. If records that you post in the Donor and Gift Management or Accounts Payable modules contain information in the Batch fields, the corresponding Journal entries will contain the same batch information. If you create a manual Journal entry, you can use the Batch field as an extra text field. Any text that you enter in this field will automatically default into each subsequent entry.

    NOTE: This field only appears if it is activated via System Initial Setup. Refer to Activating the Batch Field for the General Ledger Journal for more information.

    Jrnl #

    Read-only field that indicates the Journal Entry Number that is automatically generated by the program and identifies and determines the order in which journal entries are made.

    G/L Account Key

    The full General Ledger Account Key associated with the selected Journal entry.

    Account Description

    A text description of the selected General Ledger account.

    Debit

    The amount to debit the selected account.

    Credit

    The amount to credit the selected account.

    Journal Description

    A description of the selected journal entry.

    Create AP

    Determines whether the journal entry should automatically create a Check Reconciliation entry in Accounts Payable when it is posted.

    The default value is No. Change it to Yes if you want to create a reconciliation entry.

    FACTS Confirm Date

    The date for which the transaction will be valued in the FACTS allocation process.

    NOTE: The date in this field automatically populates the Confirm Date field for the associated FACTS transaction.

    NOTE: This date only applies to Journal entries that will flow into FACTS. You can use it to set the date for items that you know will be in transit during the FACTS Reconciliation process. For example, if the entries have an Apply Date at the end of a quarter for General Ledger purposes, but you have already posted FACTS for that period, you could enter a Confirm Date that is the first day of the next FACTS Cycle.

    Added

    Read-only field that indicates the date when the entry was first added to the system.

    Changed

    Read-only field that indicates the date when the item was last changed. If no changes have been made, this field will be blank.

    User ID

    Read-only field that indicates the username of the person who made the last change to the entry (or the person who created the entry if no changes have been made).

    Total Debits

    The running debit total for the current Journal Entry session.

    NOTE: The totals will only change due to manual journal entries. (Automatic journal entries are assumed to be in balance and are ignored).

    Total Credits

    The running credit total for the current Journal Entry session.

    NOTE: The totals will only change due to manual journal entries. (Automatic journal entries are assumed to be in balance and are ignored).

    Difference

    The difference between the Total Debits and Total Credits.

    NOTE: You cannot exit normally from Journal Entry if there is a Difference. Refer to Making Manual General Ledger Journal Entries for more information.

     

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