General Journal Entries

Journal entries can be made by using the General Journal Entries form. Journal entries can be used to enter beginning balances or to make adjusting entries to accounts.

To add a new journal entry, click on the New button or press CTRL+A.

Batch Number
The batch number for this group of journal entries. The system will automatically assign a unique batch number to this batch. It cannot be changed.

Transaction Balance
This field displays the balance of the batch being entered. This reflects debits minus credits. The transaction balance must be zero (in balance) before the batch can be saved.

Transaction Date
Enter the date for which this batch will be entered. This is the date it will be posted to the general ledger.

Reference ID
This is a 20-character field that describes this recurring batch. Enter a reference that uniquely identifies this batch.

Comments
Click on the Comments button to add comments to this journal entry. The comments will print with the journal entry when the G/L journal report is printed.

Description
Enter a description for the detail line being entered.

If this line is being expensed to a well the description entered here will also be stored with the expense so that it will print on the investor's statement if the option is marked in the preferences to "Use Description From Bills on Statements Instead of Expense Code Name"

Account
Enter or choose the account that will be debited or credited by this transaction. To choose the account, either begin typing the account number or press the F2 key to bring up a list of accounts. A description box will appear at the bottom of the displaying the current account that you selected.

Well/Lease
Enter the well or lease to which this expense applies. Choose the unit by typing in the ID or bring up a list by pressing the F2 key. A description box will appear at the bottom of the , displaying the current well that you selected. Items entered with a well ID and no expense code will not be processed during a run closing. Items with a valid well and expense code on them will be automatically placed into the allocation file to be allocated later.

Exp Code
Enter the expense code to which this expense applies. Choose the expense code by typing it in or pressing the F2 key to bring up a list. A description box will appear at the bottom of the displaying the current category that you selected. This should only be filled in when you have filled in the well ID and want this expense to affect the revenue distribution. Items entered with a well ID and no expense code will not be processed during a run closing. Items with a valid well and expense code on them will be automatically placed into the allocation file to be allocated later.

Dept
Enter the department code to which this amount applies. Choose the department by typing it in or pressing the F2 key to bring up a list. A description box will appear at the bottom of the displaying the current department that you selected.

Debit
If the account specified should be debited, enter the amount of the debit here.

Credit
If the account specified should be credited, enter the amount of the credit here.

New detail lines will be added below the last line displayed when the tab or return key is pressed after adding the debit or credit amount. When a new line is added, it keeps the same description as the previous line. This can be overwritten if desired.

New detail lines can be added to an existing journal entry by right-clicking on the detail area and choosing Add New Record or by clicking on the Add Line button at the bottom of the .

Detail lines can be deleted by right-clicking on the detail area and choosing Delete Record. You can also delete items by zeroing out both debits and credits for a line. After saving, that line will be automatically removed for you. A detail line may also be deleted by clicking once on the line you wish to delete so that it is selected, and then click the Del Line button at the bottom of the .

After you have entered all of the detail lines for this batch, choose the Save button from the toolbar if you want the batch saved to the general journal.

Recurring Entries
To bring in a recurring journal entry that has been set up in the Tasks> Recurring Transactions> Journal Entries form, click on the New button on the toolbar or press Ctrl+A to add a new entry. Then click on the Recurring Entries button at the bottom left of the form. This will bring up a list of saved recurring journal entries. Choose the entry to be brought in by double-clicking on it.

After bringing the recurring entry in, the date must be entered and any data can be changed.

Add Line
Adds another detail line to the grid.

Delete Line
Deletes the selected detail line.

Note: If a bank account is used within the journal entry, the system will automatically create a corresponding check register entry for that bank account so that your check register total will equal the total for that bank account in the general ledger.