Journal Vouchers Features and Functions
A journal voucher (JV) is a document that authorizes payment for services performed, or for goods that are received or exchanged. As a means to record ledger transactions, JVs may have different approvals for different accounts. For example when someone submits an expense report that money is typically associated with an account on the chart of accounts in the G/L. The account may require a JV for posted entries. The JV may include copies of receipts and a sign off from a manager before the entry can be posted.
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- Online journal voucher input with verification of input
- Interfaces with third party databases to import and export transactions
- Designates a journal voucher suspense account for the G/L to correct entries
- Transaction completion triggers batch report updates
- Real time posting enables direct transaction posting and journal saves, provided that there are no errors
- Debits and credits have separate columns in the journal voucher entry screen
- Adjustable start and end dates for determining debit and credit balances
- Posts journal entries and events to different books concurrently
- Upon transaction completion, issues batch control totals
- Recurring journal entries are automatically posted by the G/L for each accounting period
- Month-end accruals are reversed, without manual intervention, at the start of the following period
- Line item calculation and posting for clearing entries--generates offsetting entries
- Start and stop dates for standard journal transactions may be determined by the user
- Start and stop dates for recurring journals may be determined by the user
- Posts journal vouchers to the current period while prior period remains open
- Adjusts prior periods
- Erroneous journal voucher batches may be removed by mass reversal
- Flexible number of periods retained for historical purposes
- Summary or detail postings to the G/L from sub-ledgers
- User-defined or controlled close processing
- More than one open period is allowed
- More than one period can be open simultaneously
- Initiates new year before closing previous year
- Expense accounts are automatically cleared at year-end close
- Performs period-end closing multiple times, for trial purposes
- Prior to close, multiple period-end closes can be performed
- Adds transactions to a period after it has been closed
- Splits general invoice amount into detailed categories for the acquisition of various items
- Consolidates transactions (as desired by the user)
- Continuous transaction numbering with multiple numbering schemes
- Audit trails are available in detail for both internal and external auditing
- Posts to different accounts in several companies with the same posting source e.g. journal voucher
- Posting to both the general ledger and sub-ledger simultaneously
- Uploads PC-created journal vouchers directly in the system
- Creation of additional financial postings based on financial data entered by journal entry
- Creation of additional financial transactions based on statistical and non-financial data entered by journal voucher
- Foreign exchange calculated automatically when posting a journal entry in an underlying currency that is different from the general account to which it is being posted
- Allows entry of any other currency on journal voucher
- User-defined calculations and postings for monthly jobs by utilizing tables
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General Ledger Features and Functions
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