18Adjusting Data With Journals

Overview

After completing this lesson, you should be able to:

• Describe the purpose of journals

• Open periods for journal entry

• Create journal templates and journals

• Submit, review, and post journals

• View adjusted data in data grids

• Create journal reports

Journals Overview

AccountBalance

JournalAdjustments

AdjustedAccountBalance

Journals and the Value Dimension

Value entered in data form

Value posted from journal

Adjusted value rolled up to parent

<Entity Currency>

<Entity Currency Adjs>

<Entity Currency Total>

500

-75

425

Multiple Journal Postings

Postings from multiple journals are cumulative.

Journal A:-100

Journal B:+25

<Entity Currency>

<Entity Currency Adjs>

<Entity Currency Total>

500

-75

425

Creating Parent and Contribution Adjustments

You can adjust the amount after percent ownership is applied.

You can adjust the amount before percent ownership is applied.

You can make a parent adjustment to WestSales that affects only SalesServices or only California.

Opening Periods for Journal Entries

Journal Creation Process

1. Create Journal Templates

2. Set the Point of View

3. Create Journals

4. Enter Journal Data

5. Review, Submit, and Post Journals

6. View Journal Adjustments

7. Create and Format Journal Reports

Creating Journal Templates

POV

Journal template

Description Reclass balances

AccountsC1..C4

Amounts Debit Credit

Set up in advance

Entity (For single-entity journals)

Interest Expense

WestSales

Setting the Point of View

Use this button to create a journal.

Set the point of view before you create a journal.

Lists journals for the current point of view.

Creating Journals

Journal Template

Description

Accounts

Amounts

Reclass Balance

Interest Expense

C1..C4

Debit Credit

Blank Journal

Description

Accounts

Amounts

Entering Journal Data

Select members for each row.

Select a balance type.

Submitting, Reviewing, and Posting Journals

Accountant or Financial Analyst

Accounting Manager/Supervisor

Status: Approved

Status: Rejected

Status: Submitted

If Approved, user can post journal

ORJournal Status:Posted

Viewing Journal Adjustments

You can view journal adjustments in a data grid or in the Entity Details report.

Viewing Adjusted Data in Data Grids

Journal Adjustments

Viewing Adjustments in the Entity Details Report

Creating and Formatting Journal Reports

Setting Journal Report Properties

Selecting Columns and Filters

Previewing Reports

Saving Journal Reports Remotely

Saving Journal Reports Locally

Running Journal Reports

Summary

In this lesson, you should have learned to:

• Describe the purpose of journals

• Open periods for journal entry

• Create journal templates and journals

• Submit, review, and post journals

• View adjusted data in data grids

• Create journal reports