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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