You can add journal entries from any page in an engagement, with the exception of the Recycle Bin page. The journal entry types that are available are:
(not available for consolidated engagements at this time)
- Eliminating (available only on the consolidated view of consolidated engagements)
Adjusting, reclassifying, and tax journal entries immediately update the balances throughout the application, including on the trial balance, leadsheets, and financial statements. You might need to refresh your browser to see the updated balance information.
Passed journal entries are not used to calculate any balances, and so do not appear on the trial balance, leadsheets, financial statements, or the tax summary report. They are, however, included in journal entry exports and during roll forward.
Eliminating journal entries update the consolidated trial balance, with the total for all subsidiaries displayed in the EJE column. The Consolidated total on the consolidated trial balance is the sum of the final balance and the EJEs for all subsidiaries.
To add a journal entry, do the following:
- Click the engagement on the Engagement List page.
- Click Add Journal Entries > Add Journal Entries on the toolbar from any page in the application other than the Recycle Bin page.
- If you are working in a consolidated engagement, click in the gray navigation bar at the top of the page and select the entity you want to work with.
- Select the journal entry type.
- AJE for an adjusting journal entry
- RJE for a reclassifying journal entry
- TJE for a tax journal entry
- PAJE for a passed journal entry
- EJE for an eliminating journal entry
- If you are adding an eliminating journal entry, select an account from a subsidiary that you want to apply the journal entry to.
- Begin typing the account number or account name. As you type, accounts with a number or name matching what you type display. When you see the account you need, select it.
- Enter either a debit or credit amount in the corresponding column.
- Continue adding additional line items in the journal entry, as needed. You can add up to 50 line items per journal entry.
- Enter a comment to describe the reason for adding the journal entry.
Select a roll forward option to indicate if the journal entry should be rolled forward. You will be able to review and change the option when you roll forward the engagement. By default, the journal entry is set to not roll forward.
- Do not include. The journal entry is not rolled forward.
- Recurring with same amounts. The journal entry is rolled forward with no amounts.
- Recurring clear amounts. The journal entry is rolled forward with no amounts.
- Reversing. The journal entry is rolled forward, but with debit and credit amounts reversed.
- If needed, add a workpaper reference link to the journal entry. Begin typing the index or name of the workpaper in the Workpaper reference box. When you see the workpaper you need, select it.
- Click Save and Add to save the entry and add another journal entry or Save and Close to save the journal entry and exit the Add a Journal Entry pane.
- Click at the top right of the pane to close it.