Managing GL Journals

GL Journals classifies where journal transactions post. Use the General journal for standard entries and the Accruals journal for entries that reverse in a later period.

Before you start

• GL Company Parameters and fiscal years are configured.

Steps

1. Open GL Journals.
2. Confirm a General journal for non-reversing entries.
3. Confirm an Accruals journal for entries that must reverse later.
4. When entering a reversible accrual, select the Accruals journal so the entry is marked reversible.
5. At the start of the next period, initialize the reversal from GL Journals (or your standard reverse process for that journal).

Notes

• Only mark entries for reversal when they should reverse—incorrect reversals distort the next period.
• Entries must balance (use the reference column to tie related lines). See GL Journal Transaction Entry.

Tips

• Use the GL Journal Transactions report when auditing posted activity.