Overview

Setting up journals help users categorize the transactions that take place within the company and record the receipts to your the bank accounts.  When setting up the journals, users would have a different journal for each bank account.  This step would typically occur after the company and the chart of accounts are setup.  

Users can access this screen in the Accounting Subsystem under the "setup" menu.

There are four different types of journals:

Payable: Payable journals should be setup for each currency that the suppliers will be paid in.  

Receipt: The different types of bank accounts that a company will receive the funds into.   

General: There is typically one general journal per company and is used for manual transactions that exists when a user sets up the debit and credit by hand.  This is often used during the month-end and is typically only used only to shift money around.   

ARC: There is generally only 1 (one) ARC per company and defines how a company will pay an airline.   

Creating Journals

The below defines how users can apply the fields available in the journals screen.  

Defining the Fields

Company ID

The company ID uniquely identifies this company.  The options that appear in this list are pulled from the data entered into the Company ID screen.  

Journal ID

The Journal ID uniquely identifies the journal.  It's recommended, but it is not required, that the first letter reflects the type of journal.

Example

R for Receipts
P for Payables
G for General Journal

Note: JournalIDs may not contain dashes ("-").

Journal Type

Select the Journal Type:

Receipts

Payables

General Journal

ARC Journal

Note:  Selecting the journal type will effect the fields that appear at the bottom of the screen.  

Journal Name

For internal users only.  The Journal name is the name of the Journal.

Journal tips

When Journals are being creating, users should keep the below items in mind: 

It is suggested that when creating a journal name, the name of the journal is generic enough so that if the bank account changes, users do not need to update the journal.  

If users find that a journal name needs to be updated, then a new journal should be created and the original journal should be removed.  

Currency

The currency in which these transactions will occur in under this journal.

Example

If users are quoting in USD in Reservations, then a USD receivable journal must be created.  If users are paying a suppier in EUR, then a EUR payable journal must be created. 

Effect on Account

The effects on the "post to account" (see below).  Users will select either debit or credit from the drop-down menu. 

Post to Account

Users will enter the account number to be affected by the transactions that are posted to this Journal.  That account that will be directly effected by every transaction in this journal.  The accounts in this field are the accounts that were entered in the chart of accounts screen.  

Adjustments Account

As Transactions are recorded, an adjustment account may be used to record those discrepancies between the expected and the actual receipts/payments.

Note:  This field is not typically used.  The most common use for this is to account for the credit card transactional fees if the company is responsible for those fees.  

Only available for Receipts and Payables

Note:  When selecting Journal type "ARC," the journal screen will display a CC Processed Thru ARC field.  This field behaves in the same way as the adjustments field, however, is relabeled to account for credit cards processed through ARC.  

Gain/Loss on Each account

As Transactions are recorded, aa gain or loss account may be used to record the difference between the exchange rate the service is costed at and the exchange rate used to pay for the service.

Only available for Payables and ARC's 

Disburse from Account

Payable Journals may be left as is or disbursed. Disbursed payables would be posted to this account number. The button on the left may also be used to indicate the layout of the check to be printed.

Only available for Payables 

Pay Type

This option applies to the "pay supplier" screen.  When users search for a supplier and select the currency type in the pay supplier screen, the application will  attempt to match the payment type from the supplier to the payment type of the journal.  

Type in "T" for "EFT", "C" for "Check", "O" for "Closed", or "H" for "Hold".  When paying a supplier, if it has the same pay type and currency as this journal, then this journal will be automatically selected to record the payment.

Example of the pay type in the Accounting Info Tab in Suppliers under the Product Subsystem: