Journal Entries

As many daily transactions are saved, Agvance automatically creates entries into the General Journal. This journal is the foundation of the financial records - the basis of the profit/loss statement complete with an audit trail on all financial acti...

Overview Vendor Checks not processed through the Accounts Payable area of the program (except payroll checks) should be entered at the Quick Check screen. This includes manually written checks, checks cut to one time vendors, and Prepay Checks ...

A Template Journal Entry is useful for repetitive General Journal Entries where the Account IDs are the same, but the dollar amount changes each time. Month end accrual entries are an example of where this process might be useful. The following pro...

If it seems the Cost of Sales account has an incorrect value, it may be necessary to involve SSI support to find the source of the problem. The following is a list of items to check: Run the Income Statement month by month to find the first fiscal...

When entering adjusting Journal Entries into a prior year dataset, Agvance can optionally affect the Beginning Current Year balances of the accounts used in the entries. This means that the beginning current year balances will change on the save of ...

General ledger account balances can be affected by making a journal entry. In the Agvance system, manual entries are seldom necessary. Some examples of when a manual entry might be necessary would be when the accountant gives adjusting entries at ye...

This function posts recurring Journal Entries to the General Ledger. Select the Posting Date and the Group of recurring entries to post at Accounting / G/L / Post Recurring Journal Entries . These recurring Journal Entries are defined at S...

Journal Entries made into the future will not affect the General Journal, account balances, or, in the case of a Vendor A/P type entry, the Vendor balance upon being saved. Instead, the entry is saved into a Future Journal and held until the fisca...

Agvance offers the option to import Journal Entries from Excel or CSV files. This is useful when importing payroll done outside of Agvance or importing a file received from an auditor. Importing Journal Entries from Excel or CSV files W...

The Quick Journal Entry screen at Accounting / G/L / Quick Journal Entry may be used to make a Journal Entry that has one debit account and one credit account. Once a Journal Entry has been saved at this screen, the previously used debit and cre...

Typically there are several end of year adjusting entries that an auditor or accountant provides. These adjustments are often not complete for several weeks after the actual year is ended. It is recommended to close the year and begin posting in the...

The following article explains how to record purchases and sales of grain in Accounting. It provides examples of Journal Entries for different types of transactions and explains how to adjust the quantity balance of accounts. The document emphasizes...

This option at Accounting / G/L / Post Administrative G/L Splits distributes funds from the selected General Ledger account to the accounts in the selected G/L Split. JE Date – This is the date to be recorded on the Journal Entry. F...