Introduction: Journal Entry Audit/Update (15-06)

Overview

This selection prints an audit listing of the transactions entered through ‘JOURNAL ENTRY‘. When the audit is in BALANCE, the update may be initiated; otherwise, use ‘JOURNAL ENTRY‘ to make the necessary corrections.

The update writes all current month entries to the transaction detail file and adjusts the current month-to-date field in the General Ledger master file for each account number. This update writes all future period journal entries (entries with dates that fall into a future month) into the “future” file where they will be stored until the current General Ledger operating month matches the month on the journal entry. Any prior period entries are handled in the manner described in the GENERAL INSTRUCTIONS section of ‘JOURNAL ENTRY‘.

After all the journal entries have been updated this selection automatically looks into the Future file to determine if there are any records whose dates fall within the current General Ledger processing month. If there are, this selection removes them from the Future file and updates them to the transaction detail file as well as the current month-to-date field in the appropriate master record.

WARNING: If the prior month was just closed out through ‘MONTH END CLOSING‘ make sure the balance sheet has been printed, before running this update.