Creating Custom Journal Entries

You can create custom journal entries that act like templates and can be used in multiple trial balances for a tax year and a tax product. Not all information for the entry needs to be entered in the custom journal entry. You can specify account numbers or tax codes only or include balances in the custom entries.

There is some variation in the columns displayed depending on the type of entry you are making.

You can create and edit custom tax and adjusting entries on the Custom Journal Entries grid. Entries can be made for the current year or the prior year. Entries or edits performed on the grid are saved immediately. There is not a separate Save or Cancel option. The following categories of entries are available in the J/E category list:

Current - Adjusting. An adjusting entry in the current year.
Current - Tax. A tax entry in the current year.
Prior - Adjusting. An adjusting entry in the prior year.
Prior - Tax. A tax entry in the prior year.

To use the G/L Direct Custom Journal Entries grid, do the following:

Open Return Manager.
Click Custom Journal Entries in the Options group on the G/L Direct ribbon.
Select the type of journal entry to create from the J/E category list.
Select the applicable tax type from the Tax product list.

Commands for working with the G/L Direct Custom Journal Entries Grid are found on a ribbon and a right-click menu. Explain the commands on the Custom Journal Entries Grid ribbon and the right-click menu.

Command	Function
Insert*	Inserts a new entry. The category of the entry is the selection in J/E category.
Delete J/Es*	Deletes one or more selected entries.
Delete Detail Rows*	Deletes one or more selected detail rows.
Copy*	Copies the selected entry. When you press the Copy command, the system creates a new entry in the category selected in J/E category. The new entry is given the next available journal entry number in that category.
Sequence J/E Numbers*	Puts entries in sequence. If entries have been inserted or deleted, this function re-numbers the journal entries so that all entry numbers are sequential.
Grid Options	Displays the options available when using the grid.

* Available from the right click menu. Right-click anywhere over the grid to reveal the right-click menu.

You can edit entries on the grid to make adjustments or corrections to existing entries. The grid displays all entries in the category selected in J/E category. Entries are listed in the order of their journal entry numbers.

When you select either Current - Tax or Prior - Tax in J/E Category, you can use either of two methods to control where the entry is to appear on the tax return:

Enter an account that is assigned to the tax code. Use this method when you know the account for the entry, but not the tax code.
Enter the tax code. Use this method when you know the tax code for the entry, but not the account number.

Neither method is preferred or superior. Use the method that is most convenient for you.

Explain the columns in the grid.

Column	Description
J/E No. (Journal Entries Grid)	The three-digit journal entry number. You cannot manually re-assign journal entry numbers.
Ref. No. (Journal Entries Grid)	A 12-character reference number that can contain numerical or alphabetic characters. Tip: You can use the reference number to relate a journal entry to work papers or other information maintained for your clients.
Posted (Journal Entries Grid)	A check box that determines whether an entry is included in calculations. You should use unposted entries if you want to record entries and review them before they are included in calculations.
Intentionally Unbalanced (Journal Entries Grid)	A check box that indicates whether an entry is intentionally unbalanced. Intentionally unbalanced entries are generally made for tax entries, but can be used for adjusting entries. If this box is checked on a tax entry, the system generates a balancing row with a tax code of 99999.9999 (Offset) and no account number. The amount is the amount needed to balance the entry. That entry is not displayed in the Journal Entries grid, but the 99999.9999 tax code is displayed on the Tax Codes grid and on the Trial Balance grid in Tax Codes view. If this box is checked on an adjusting entry, then no adjusting entry is made to balance the entry. An intentionally unbalanced journal entry is generally used when you want to record the information you have, but you do not have all the information needed for the entry yet.
Roll Forward (Journal Entries Grid)	The current selection from a list that contains the choices for handling journal entries during roll forward. The following roll forward options are available: N - Not included. The entry is ignored at roll forward. D - Descriptions only. The account number and tax codes, but no amounts are rolled forward. You should use this option if you want to reuse the journal entry next year, but you expect the amounts will be different. B - Both Descriptions and Amounts. The account numbers, the tax codes, and amounts are rolled forward. You should use this option if you want to reuse the journal entry next year, and you expect the amounts to be the same.
Description (Journal Entries Grid)	Up to 80 alphanumeric characters describing the journal entry.
Account No. (Tax Journal Entry)	The account number. Only accounts with a valid G/L Direct tax code assigned to them can be entered. To edit the account number, click the account number to display the Select an Account window.
Tax Code (Tax Journal Entry)	The tax code. If there is an account number entered in the row, then the tax code displayed is the tax code assigned to the account number and the tax code cannot be edited. In this situation, you can edit the account number to change the tax code. If there is not an account number entered in the row, you can edit the cell by clicking the tax code to display the Assign Tax Code window.
Entity/Property Number (Tax Journal Entry)	The entity or property number associated with the entry. The entity or property number can be copied, but cannot be edited. If you need to change an entity or property number, you can change the tax code or account number of the entry. Use a tax code or account that is associated with the desired entity or property number.
Description (Tax Journal Entry)	If an account number exists in the row, the description of the account number is displayed. If there is no account number in the row, but there is a tax code, the description of the tax code is displayed.
Schedule M-3 (Tax Journal Entry)	The M-3 value or a blank if M-3 is not applicable to the tax code. An existing M-3 setting can be changed to either Permanent or Temporary. To edit the M-3 value, click the value to display the Schedule M-3 Code Selection window.
M-3 Option (Tax Journal Entry)	The M-3 option for applicable tax codes. This option cannot be edited.
Option 1 (Tax Journal Entry)	Any applicable option you have associated with the tax code in the row. This column cannot be edited.
Option 2 (Tax Journal Entry)	Any applicable option you have associated with the tax code in the row. This column cannot be edited.
Account Number (Adjusting Journal Entry)	The account number for the entry. Any account defined for the return can be used, regardless of whether it has a valid G/L Direct tax code assigned to it. To edit the account number, click the account number to display the Select an Account window.
Description (Adjusting Journal Entry)	If an account number has been entered in the row, the description of the account number is displayed. This description cannot be edited.
Debit and Credit (Tax Journal Entry and Adjusting Journal Entry)	The credit or debit amount for the row. No row can contain both a debit amount and a credit amount. Credit amounts are entered and displayed without a minus sign.
Total and Difference Rows (Tax Journal Entry and Adjusting Journal Entry)	Totals for the journal entry. The first row displays the total debits and credits in the journal. The second row displays the total debits less the total credits. The difference is always displayed in the debit column. A negative amount indicates an excess of credits over debits.

Column

Description

J/E No.

(Journal Entries Grid)

The three-digit journal entry number. You cannot manually re-assign journal entry numbers.

Ref. No.

(Journal Entries Grid)

A 12-character reference number that can contain numerical or alphabetic characters.

Tip: You can use the reference number to relate a journal entry to work papers or other information maintained for your clients.

Posted

(Journal Entries Grid)

A check box that determines whether an entry is included in calculations. You should use unposted entries if you want to record entries and review them before they are included in calculations.

Intentionally Unbalanced

(Journal Entries Grid)

A check box that indicates whether an entry is intentionally unbalanced. Intentionally unbalanced entries are generally made for tax entries, but can be used for adjusting entries.

If this box is checked on a tax entry, the system generates a balancing row with a tax code of 99999.9999 (Offset) and no account number. The amount is the amount needed to balance the entry. That entry is not displayed in the Journal Entries grid, but the 99999.9999 tax code is displayed on the Tax Codes grid and on the Trial Balance grid in Tax Codes view.

If this box is checked on an adjusting entry, then no adjusting entry is made to balance the entry. An intentionally unbalanced journal entry is generally used when you want to record the information you have, but you do not have all the information needed for the entry yet.

Roll Forward

(Journal Entries Grid)

The current selection from a list that contains the choices for handling journal entries during roll forward. The following roll forward options are available:

N - Not included. The entry is ignored at roll forward.
D - Descriptions only. The account number and tax codes, but no amounts are rolled forward. You should use this option if you want to reuse the journal entry next year, but you expect the amounts will be different.
B - Both Descriptions and Amounts. The account numbers, the tax codes, and amounts are rolled forward. You should use this option if you want to reuse the journal entry next year, and you expect the amounts to be the same.

Description

(Journal Entries Grid)

Up to 80 alphanumeric characters describing the journal entry.

Account No.

(Tax Journal Entry)

The account number. Only accounts with a valid G/L Direct tax code assigned to them can be entered. To edit the account number, click the account number to display the Select an Account window.

Tax Code

(Tax Journal Entry)

The tax code.

If there is an account number entered in the row, then the tax code displayed is the tax code assigned to the account number and the tax code cannot be edited. In this situation, you can edit the account number to change the tax code.

If there is not an account number entered in the row, you can edit the cell by clicking the tax code to display the Assign Tax Code window.

Entity/Property Number

(Tax Journal Entry)

The entity or property number associated with the entry. The entity or property number can be copied, but cannot be edited. If you need to change an entity or property number, you can change the tax code or account number of the entry. Use a tax code or account that is associated with the desired entity or property number.

Description

(Tax Journal Entry)

If an account number exists in the row, the description of the account number is displayed.

If there is no account number in the row, but there is a tax code, the description of the tax code is displayed.

Schedule M-3

(Tax Journal Entry)

The M-3 value or a blank if M-3 is not applicable to the tax code. An existing M-3 setting can be changed to either Permanent or Temporary. To edit the M-3 value, click the value to display the Schedule M-3 Code Selection window.

M-3 Option

(Tax Journal Entry)

The M-3 option for applicable tax codes. This option cannot be edited.

Option 1

(Tax Journal Entry)

Any applicable option you have associated with the tax code in the row. This column cannot be edited.

Option 2

(Tax Journal Entry)

Any applicable option you have associated with the tax code in the row. This column cannot be edited.

Account Number

(Adjusting Journal Entry)

The account number for the entry. Any account defined for the return can be used, regardless of whether it has a valid G/L Direct tax code assigned to it.

To edit the account number, click the account number to display the Select an Account window.

Description

(Adjusting Journal Entry)

If an account number has been entered in the row, the description of the account number is displayed. This description cannot be edited.

Debit and Credit

(Tax Journal Entry and Adjusting Journal Entry)

The credit or debit amount for the row. No row can contain both a debit amount and a credit amount. Credit amounts are entered and displayed without a minus sign.

Total and Difference Rows

(Tax Journal Entry and Adjusting Journal Entry)

Totals for the journal entry. The first row displays the total debits and credits in the journal. The second row displays the total debits less the total credits. The difference is always displayed in the debit column. A negative amount indicates an excess of credits over debits.