The Add journal toolbar option in the Trial Balance (Workpapers) window enables you to create an adjustment journal automatically from a calculation field in the workpaper. For example, you may want to create a journal using the variance amount in order to reconcile it to an account. See Adding a new adjustment journal. The final adjusted profit/loss as a result of the adjusting journal is displayed as the last entry in the Prepare Trial Balance (Workpapers) table.
Open the workpapers period. See Opening an existing period. The Prepare Trial Balance (Workpapers) table is displayed.
Open a workpaper. See Opening workpapers. The specific workpaper window opens.
Complete the workpaper. See Completing workpapers.
Click Add journal on the toolbar. The Add Journal window opens.
Enter a Date. The Date drop-down defaults to the end date of the period. To edit the date, enter a new date into the Date field in the format dd/mm/yyyy or select the date from the drop-down calendar.
Enter a note for the adjustment journal on the Journal Note field. This is a mandatory field. The selected account is displayed as a row in the table.
Enter the adjustment amount for the selected account on the Amount field.
Press [Enter]. The balancing amount is automatically added into the Amount field in the next row.
Enter the account number into the Code field or select the account number from the drop-down.
Ensure the amount in the Amount field is correct. If the amount in the Amount field is incorrect, edit the amount and press [Enter]. The remainder required to balance the journal is automatically entered into the Amount field.
Add further rows until the amounts have been correctly distributed between the accounts. To delete a row, click the checkbox for the appropriate row and click Delete. The journal entry total is calculated and displayed at the bottom of the column. Before saving the journal entry ensure that the journal entry is balanced and the total reads 0.00.
Click Add. In the background, the table updates to show the added adjustment journal entry. The debit and credit amounts are added in the account row in the Debit and Credit columns. Each account’s adjusted balance is displayed in the Final column. The Add Journal window clears and remains open for further data entry.
Add further adjustment journals as necessary.
- Click Cancel when you have finished adding adjustment journals.