Setup Example – Periodic Journal
- The Periodic Journal creates month-end journals to clear the inventory accrual account and transfer the balance to stock on hand and purchases.
💡This page provides an example of a Transaction Type setup for Periodic Journals.
Header
- Description: Periodic Journal
- Code: PER JNL
- Entities: All
Settings (tab)
- This section lists the compulsory and optional settings that can be used to customise Periodic Journals.
- Settings with Default as part of the name can be changed when capturing a transaction.
| Setting | Description | Value | When Required |
|---|---|---|---|
| Accounting > Default – Credit Account | Select a default account from the dropdown list. | Inventory Accruals | Always |
| Accounting > Credit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Debit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Enable Accounting | A checkbox. If checked, accounting is enabled. If unchecked, transactions are created in the module and not posted to the ledger. | Check the box. | Always |
| Accounting > Pricing | Select a pricing option from the dropdown list:
| Accounting | Always |
| Defaults > Default – Data Filter | The default filter when you view a list of transactions for the Transaction Type (e.g. This Month, Pending). | Select an option from the dropdown list. | The default value is Pending & Active. Add this setting if you want a different default filter. |
| General > Reference Lookup | Enter Reference lookup lists. | Click the Value column. Enter a reference, one entry per line. Check Auto Height to show the full list. | If you want to create a lookup list for the reference field. |
| Transaction Items > Enable Adding Items | Specify which type of items can be added to a transaction. The options are:
All the buttons to add items still appear. A disabled feature shows an error message when clicked. | Custom | Always |
Statuses (tab)
- You may create an unlimited number of statuses.
- However, there are only four Status Groups:
- Pending
- Active
- Complete
- Cancelled
- The first status should allow editing.
- The final status should ideally not allow editing.
- If the setting Accounting > Enable Accounting is checked, at least one status should have the Accounting column checked.
- If inventory is used, at least one status should have the Inventory column checked.
- If editing is allowed when the inventory or accounting columns are checked, any accounting or inventory reports should be considered provisional.
Categories (tab)
- Use categories to sort records.
- The categories you choose should be meaningful to your business.
- Using categories is optional but recommended.
- Categories can be copied from another Transaction Type. The existing categories are replaced by the copied categories.
This example has no categories. If you want to sort your Periodic Journals (e.g. by period, such as month-end or year-end), create your own categories. See Transaction Categories Tutorials.
Copy Rules (tab)
- Copy Rules determine when transactions may be copied.
- Although two transactions are involved in the copy, you only need to create one Copy Rule.
- User access must be set for each Copy Rule.
- You can automate copying transactions by selecting a Trigger status.
Output Templates (tab)
- Output Templates are the forms you need to print, preview or email a transaction (e.g. invoices).
- Default templates are included. They automatically show your company name, logo and bank details, as filled in on the Output tab of a registered entity.
- You may edit these templates to include or exclude information.
- You may also create your own forms and templates from scratch.
No default templates. If you want to print or email these transactions, you can create your own templates (see Output Template Tutorials) or contact QuickEasy Support to create templates for you.