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Create templates for automatic journal entry transactions

Accounting CS lets you create automatic journal entry templates. These templates contain information for journal entry transactions. The system creates journal entries from these templates automatically. This happens when you set up or edit templates, change posting periods, view reports, or recalculate entries manually.
  1. Select
    Setup
    , then
    Transaction Templates
    .
  2. Select a Journal entry in the
    Type
     field in the Transaction Detail section.
  3. Enter the journal entry information for automatic creation.
    note
    Include subtype, journal, reference, and description. For subtypes, enter a WP reference and select
    Difference
     or
    Misstatement
    . For Regular or Adjusting subtypes, mark the
    Auto-reverse next period
     checkbox to reverse the journal as you advance to the next posing period.
  4. Enter the template ID and description on the
    Template
     tab.
  5. Select
    Automatic
     in the
    Type
     field.
    note
    This field isn't related to the
    Type
     field in the Transaction Detail section.
  6. Select the starting posting period in the
    Starting period
     field.
    note
    The system creates transactions on the last day of each posting period, starting from the selected period.
  7. Select the balance type in the
    Basis
     field.
  8. Select the prior period treatment in the
    Prior periods
     field.
    note
    You can set up multiple transaction templates with an automatic frequency. Select
    Prioritize Automatic Transaction Templates
     from any saved template to specify the calculation order.
  9. Select the
    Calculation
     tab.
  10. Select the account numbers to include in the calculation in the
    Calculate from
     grid.
  11. Select the method for applying the overall balance.
  12. Select the account, percentage, and balance effect for each distribution in the
    Distribute to
     grid. Balance the total percentage of credit and debit distributions.
    note
    Example 1: Cost of goods sold calculation
    • Set up:
       Average cost of goods sold. 40% of sales. Sales account range: 401-450.
    • Transaction:
       Debit: Account 510 (COGS). Credit: Account 130 (Inventory).
    • Calculation:
       The application calculates 40% of the total sales from accounts 401-450. It debits this amount to account 510 (COGS). It credits the same amount to account 130 (Inventory).
    Example 2: Multi-location expense distribution
    • Initial Transaction:
       Weekly payment: $1,000 to Gary Hanson Lawn Maintenance. Initial debit: Account 1-663 (Location 1).
    • Automatic Calculation:
       Credit 60% of total ($600) from Location 1 (Account 1-663). Distribute credit amount to other locations: 20% ($200) to Account 2-663 (Location 2). 20% ($200) to Account 3-663 (Location 3); 10% ($100) to Account 4-663 (Location 4). 5% ($50) to Account 5-663 (Location 5). 5% ($50) to Account 6-663 (Location 6).
    • Final Distribution:
       Location 1 (1-663): 40% ($400); Location 2 (2-663): 20% ($200). Location 3 (3-663) 20% ($200): Location 4 (4-663): 10% ($100): Location 5 (5-663): 5% ($50): Location 6 (6-663): 5% ($50).
  13. Select
    Enter
     to save the template.

This article applies to:

  • Product: Accounting CS
  • Subject: Journal entries

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