How To: Creating an Automatic Balance Entry (15-05)

Overview

If you enter an account for a date that falls before the present corporate year, the system will move the record to the bottom of the screen and automatically create a balancing entry.

Step-by-Step

  1. Enter steps 1-5 of the ‘Creating a New Journal Entry’ tutorial.

Click image to enlarge.

  1. In the ‘Date’ field, enter a date that falls before the present corporate year.

    The ‘Automatically create balancing entries’ box is checked, and the following message appears:

    ‘Date entered is a prior month of present corporate year.’

  1. Add the remaining ‘Add Record’ fields to the record.

  1. Click ‘Accept.’
    NOTE: If you enter a record for a prior corporate month for a P&L account (010101 707000), it will create an automatic balancing entry for an Income Statement account (010101 999999). If you enter a record for a Balance Sheet account (000000 175000), it will create an automatic balancing entry for a Current Profit / Loss account (000000 309000).
    2. IMPORTANT:

    • If the ‘Use User Defined Batch Ids’ preference is not checked in GL Batch Preferences (15-90-02), the process is complete at this point.

    • If the preference is checked, move to Step 5.

Click image to enlarge.

  1. Click ‘Done’ to return to the Batch ID screen.
    NOTE: The ‘Done’ button only appears if the ‘Use User Defined Batch Ids’ preference is checked in GL Batch Preferences (15-90-02).
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