Unit Dataset Journal Entries

Journal Entry Details

•Journal entries are set up in" Provision" datasets in Data Input, Administration, within the Federal folder. Journal entries for "Interim" datasets are set up in Data Input, Administration, Actual, within the Federal folder.
•Journal entries for the Interim datasets are created in Data Input, within the Federal folder in Administration for Actual entries.
•The balances calculated on the journal entry page appear on the "Journal Entry" reports.
•Journal entries are created on a unit-by-unit basis.
•When a unit is assigned to a Journal Entry Profile, the Journal Entry page no longer appears in Federal or State folders for data entry.
•You can create "Journal Entries" in one unit and then copy them for other units using the import spreadsheet.
•To import journal entries, copy the data to the #JES# Journal Entries and #JETAX# JE Tax Calcs sheets for the "Import Numbers" template.
•Each unit can have either Unit Journal Entry configurations or Journal Entries profiles, not both.
•Unit journal entries configuration page is located in the Federal and State folders within the Data Input Administration folder.
•Tax effected balances based on journal entry configurations appear in the "Journal Entry" reports.
1.Select the JE Type and then JE Code.
2.Select the JE Summary and type the Description.

 

To create Journal Entries at the unit level:

1.Select Data Input and then Federal or State.
2.Select Administration and then Journal Entry Profiles.
3.Select Create New.
4.Select the JE Type.
•This field is required.
•Define Jurisdiction (Federal, State, or both) type applicable to new Journal Entry.
5.Select the JE Code.
•Each journal entry line is required to have a unique JE Code.
6.Select the JE Summary.
•This field is optional.
•User defined value at Journal Entry Summary page from the System folder within Administration area.
•Based on the JE Summary value and groups multiple journal entries together for reports.
7.Type the Name.
8.Type the Description.
9.Select the Debit GL Account and then the Credit GL Account.
•The accounts will appear on the journal entry reports.

If the Debit GL Account and Credit GL Account are not listed then:

1.From the "Control Panel", select Administration.
2.Select Manage Trial Balances.
3.Click Trial Balances Sublines.
4.Select the account Code listed on the "JE Post" column.
5.Click Save.
10.Type Supplemental Information.
11.To rename the Flex Field Labels:
1.From the "Control Panel", select Administration.
2.Select System and then Manage Configurations.
3.Select Advanced Functionality and then Journal Entries.
4.Type the label name in the "Journal Entry Supplemental Field Name #1-9."
5.The entries are immediately saved.

Warning: Journal Entry configurations previously set up at the "unit level" within the Federal and State folders will be permanently removed.

 

Tax Calculations

To set up the Tax Calculations (These steps configure the Tax journal entries):

1.Click Create New.
2.Click Tax Calc Filter to filter the list of tax calculations.
3.Click Tax Calculation to select the tax calculation.
4.Select Component to separately state a code with a tax calculation in the "Difference" column.
5.Type the Factor.
6.Click the plus sign to add the calculation.
7.Click Save.

 

To delete a "Tax Calculation":

1.Select a Tax Calculation.
2.Click X.

 

GL Sources

To set up the General Ledger Sources (These steps configure the Book journal entries):

1.Click Create New.
2.Select the JE Type "Federal or State."
•The list is the same for both Debits and Credits.
3.Type the JE Code. The code entered is associated with the journal entry.
4.Select the JE Summary.
5.Type the Description.
6.Click the GL Sources tab.
7.Select the GL Account.
•The GL Account to select the General Ledger account.
8.Type the Factor.
•Enter a negative "Factor" to create a difference between the Book and Tax values (most common) in the Journal Entry report.
9.Click Save.

 

To delete the "General Ledger Sources":

1.Select the GL Account.
2.Click X.
3.Click Delete All to delete all the "Tax Calculations" from the list.

 

To delete "Journal Entries":

1.Select the Journal Entry Code Name.
2.Click Delete.

 

To delete all of the Journal Entries, you must activate the "Delete All" button.

 

To activate the "Delete All" button:

1.In the Control Panel select Administration.
2.Select System and then Manage Configurations.
3.Select Advanced Functionality and then Journal Entries.
4.For the parameter "Show Delete All Journal Entries Menu Option", click Yes.
5.For the parameter "Show Delete All button on Journal Entry Screen", click Yes.
6.Click Delete All to delete all journal entries.

Note: To complete the setup for the Journal Entry lines, select the Tax Calculation tab to configure Tax entries and the GL Sources tab to configure the Book entries.

 

Taxes Per Book

Taxes Per Book are entered on the Taxes Per book page. The balances entered are used for Journal entry reports and compare the balances entered to the provision calculations.

 

To enter in taxes per book for a "Provision" dataset:

1.In the Control Panel, select Data Input and then Provision.
2.Select Federal.
3.Select Unit Details and then Other.
4.Click the Taxes Per Book tab.
5.Type the balance.

 

To enter in taxes per book for an "Interim" dataset:

1.In the Control Panel, select Data Input and then Interim.
2.Select Actual and then Federal.
3.Select Interim Unit Details and then Other.
4.Click the Taxes Per Book tab.
5.Type the balance.

 

To import taxes per book complete the appropriate fields on the #U# Unit sheet in the Import numbers template.