Journal Entries

Overview

General journal entry transactions are the beginning of the accounting cycle. Shafer's Journal Entry feature will allow you the flexibility to manually enter transactions as well import entries or setup recurring transactions. Manual journal entries may include a reference number in addition to notes that describe the transaction. The auto-reverse feature (i.e. used to close the month before all AP invoices for that month have been received), will automatically reverse a transaction as of the first of the next month (or the next time a journal entry is made). All journal entries, regardless of whether they originate in the general ledger or from other applications, have a common structure. The transaction’s ID number will uniquely identify each journal entry and no other GL transaction will have this same value. Recurring journal entries can be entered to cut down data entry time. Our system will allow you to enter a fixed amount that may be repeated and run two months up to indefinitely.

· GL Batch

Input multiple entries or enter one journal entry at a time. You'll be able to review the entire batch prior to posting. You'll also have the ability to correct or delete any entry before posting. Once you are satisfied the entry is correct, you can post all journal entries and print out your report.

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