How to Create, View, Search, and Edit Journal Entries

INTRODUCTION
Journal Entries are the logging of business transactions and their monetary value into the t-accounts of an accounting journal as either debits or credits. Journal entries usually begin with a paper trail, such as a receipt, a bill, an invoice, or some other direct record of a transaction. This paper trial makes them easy to record and maintain traceability for each transaction.

Pontem General Ledger users can record or change transactions (journal entries) for the current fiscal year, and one year prior to the current fiscal year.

There are numerous reports available for tracking and maintaining journal entries. While navigating through the journal entry section of the program, the ‘Associated Reports’ section of the ‘Tools Navigator’ will give you access to various useful, relevant reports.

HOW TO VIEW A LIST OF JOURNAL ENTRIES

1. Select ‘Journal Entries’ from ‘Primary Tasks’ or press F6 on your keyboard.
2. The default view for this screen is the ‘Transaction List View’ (see below) which displays journal entries made on the current date.

3. To display detail for a single transaction double-click on the transaction in the display grid. The following detail screen will appear:

JOURNAL ENTRY QUICK SEARCH
Using the ‘Journal Entry Quick Search’ a user can set the parameters to define what transactions appear in the display grid. Journal Entries can be displayed based on Transaction Date, Ledger Account Number and Document Number, or any combination of these.

NOTE: The ‘Advanced’ button offers additional filters to refine a search for a specific transaction or transaction range. This is most useful for displaying a group of records that fall within a range of values.

How to Search by Date
Enter a valid date mm/dd/yyyy in the ‘Date’ field or click on the ‘Calendar Icon’ to display the calendar.

Use the ◄◄ and ►► symbols to move between calendar years and use the ◄ ► symbols to move between months within the same calendar year. Click on the desired date then click on the ‘Search’ button to reveal transactions created on the chosen date.

How to Search by Ledger Account Number
List will display existing ‘Ledger Account Number’ with or without a date parameter set. Enter a valid ledger account number, or click on the drop-down to display a list of valid ledger account numbers from which to choose.

Click on the desired ‘Ledger Account Number’ and then click on the ‘Search’ button to reveal transactions created which match a specific ledger account number.

How to Search by Document Number
This search option allows you to filter transactions based on an entered ‘Document Number’ such as an invoice number, receipt number, or bill number.

Enter the ‘Document Number’ in the field and click on the ‘Search’ button to reveal transactions that were created using a particular document number.

CREATING JOURNAL ENTRIES

1. Select ‘Journal Entries’ from ‘Primary Tasks’ or press F6 on your keyboard.
2. Click on the ’New’ button to display a blank ‘Journal Entries Transaction Detail’ form.
3. Enter a valid ‘Date’ (mm/dd/yyyy) in this field or click on the ‘Calendar Icon’ to display the calendar. Use the ◄◄ and ►► symbols to move between calendar years and use the ◄ ► symbols to move from between months within the same calendar year. Dates can be entered in various formats, including: m.d; m-d: m/d. If you leave the year blank the date will automatically be formatted with the current year.
1. NOTE: The date entered in the field will determine the accounting period for which this transaction will be “posted” to your ledger. You may make prior period entries simply by using an appropriate date for whatever accounting period you choose, including the prior fiscal year.
4. Enter a ‘Transaction Type’ or select a transaction type from the drop-down list.
5. Enter a ‘Description’ for the transaction. There are no specific rules for descriptions, however, it is recommended you use something that is easily recognizable.
6. For the ‘Document Number’ enter a check number, a receipt number or any other number that provides information regarding to the source of the transaction.
7. Enter the appropriate ‘Ledger Account Number’ or choose one from the drop-down list for each line in the transaction.
8. Enter a ‘Debit’ or ‘Credit’ amount for each account transaction. The entire transaction must be balanced, or the debit and credit amount must be equal in all funds having entries. A transaction can include multiple funds. The fund entries must be in balance in order to “Save”.
1. NOTE: A proof of the debit and credit amounts entered will be displayed in the lower-right corner of your screen. When the transaction is balanced, the proof box will show a balance of $0.00. An entry must be in balance to “Save.”
9. Click ‘Save’.

EDIT AN EXISTING JOURNAL ENTRY
NOTE: A transaction may be changed only once using the edit transaction function. If you have the need to make another change, you will need to modify the newly-added transaction.

1. To edit an existing journal entry, select ‘Journal Entries’ from ‘Primary Tasks’ or press F6 on your keyboard.
2. Locate the entry to be edited, by searching by date, document number, or ledger account number by using the ‘Journal Entry Quick Search’ feature located in the lower-left corner of the screen.
3. Click to highlight the entry to be edited then click on the ‘Edit Transaction’ button to display the detail for this transaction, or you can also double-click on the transaction to view the detail display then click the ’Edit Transaction’ button.
1. NOTE: You can edit transactions that are dated in a prior fiscal year. When you click on the ‘Edit Transaction’ button, a window will appear notifying you of the prior year condition.
4. Proceed to make changes as needed. The same business rules that apply to creating a new transaction apply when editing a transaction (i.e., the entire transaction must be balanced, and the debit and credit amount must be equal for all funds having entries).
5. Click ‘Save’ to finish.

NOTE: When the changes are saved, the system will add two transactions. The first will simply reverse the original transaction and the second will record a new transaction with the changes you have made. The reversing transaction will be given the same date as the original transaction. You may give the newly-added transaction a different date as long as all the transactions fall within the same fiscal year.

PERFORMING PRIOR-YEAR FISCAL PERIOD ADJUSTMENTS
There are times you may need to create an entry that is dated prior to the current fiscal year. Frequently auditors will request such an adjustment, as a result of an audit. You may make journal entries into the immediate prior year only. Make entries in the same manner you would if you were adding a transaction in the current fiscal year.

NOTE: The user must have the proper rights assigned to perform prior year adjustments.

The program will acknowledge that the entry is dated for the prior fiscal year by displaying this message box:

After confirming, you can proceed with entering a journal entry as usual. The program will automatically adjust your open balances for the current fiscal year.