How do I add a journal code?

AM (Asset Management), AP (Accounts Payable), AR (Accounts Receivable), CDPT (Cash Disbursements - Payroll Transmittals), CR (Cash Receipts), and UM (Utility Management) are examples of commonly used journal codes.

Adding a journal code

1. Open Connect General Ledger > Organization > Journal Codes.

2. Click New (CTRL+N).

3. Enter the Journal Code.

4. Enter the Title.

5. Select the Type.

6. Select the Normal Balance.

The normal account balance is the debit or credit balance that is expected in a specific account in the General Ledger. Credit is an entry on the right side of an account. When you have an outflow from your bank account, you will credit the balance. A debit is an entry on the left side of an account. When you have account for an inflow from your bank account, you will debit the balance.

See the help topic titled How do I assign the "normal balance"?

7. Select the checkbox titled Activate Journal.

If you do not want to post transactions to a specific journal, you can deactivate a journal code. A deactivated journal means the journal code will exist in the Journal Codes table but users will not be able to post transactions to it.

See the help topic titled How do I activate/deactivate a journal code?

8. Select the Bank.

You can assign a bank to a journal code if the journal records amounts for bank reconciliation. Example: A Cash Disbursements journal uses a bank to reconcile

See the help topic titled How do I assign a bank to a journal code?

9. Enter the Offset Reference, Offset Account, and Offset Description.

An offset account, or contra account, is an account that reduces the gross amount of another account to calculate a net balance. Examples of offset accounts: Accumulated Depreciation, and Discount on Note Payable.

See the help topic titled How do I set up the offset information?

10. Set up the Budget Level.

A budget level is a level in a budget that you can use to label and track amounts through the budgeting process. Use this option to set up a journal code to record a budget.

See the help topic titled How do I add/remove a budget level?

11. Set up the checkbox titled Create Fund Allocations.

If funds will be allocated to the journal code, you'll need to set up a fund allocation.

See the help topic titled How do I create fund allocations?

12. Click Save (CTRL+S).

The journal code is saved.