Job Cost - How to Enter Transactions (Journal Entries)

Overview:  How to enter transactions (Journal Entries)

Journal Entries are entered into CMiC using the Enter Cost or Billing Transaction process.   Journal Entries with a large number of detail lines or entries from another source such as E1 can be imported into CMiC using the Foreign Batch (See Import Transactions and Post (Foreign Batch Import)).  This document details:

· Entering a Journal Entry

· Entering an Accrual Journal Entry with Automatic Reversal

· Printing JC Transaction Edit Listing

· Correcting an Unposted Batch

· Posting a Batch

Entering a Transaction (Journal Entry)

STEP 1: Click Job Costing

STEP 2: Click Transaction

STEP 3: Click Enter Cost or Billing Transaction

STEP 4: Company number will default based on User Defaults.  Can be changed in necessary.

STEP 5: Current Period will default based on open period.

STEP 6: Click in the Batch field and the Create Batch button will appear.

STEP 7: Click Create Batch (See Creating a Batch in Enterprise).  Once batch is selected or created, Page Down.

STEP 8: Post Date - System Date will default.  Note: Post Date must be within the Current Period and can be changed.  Press Tab

STEP 9: Journal – Enter “JC”. Press Tab

STEP 10: Currency – Defaults “US”. Press Tab, Press Tab

STEP 11: Source – Enter source of entry if desired, i.e. Vendor Number.  This will appear on queries and reports.  Press Tab

STEP 12: Source Desc – Enter source description in desired, i.e. vendor’s name, invoice #, etc.  This will appear of queries and reports.  Press Tab

STEP 13: Reference – Enter JE number. Press Tab

STEP 14: Reference Desc – Enter JE description. Press Tab

STEP 15: Ref. Date - Defaults to system date.  This can be changed to the source date of the transaction.  Press Tab 

NOTE:  If Accrual box is checked this entry will automatically be reversed the following period.  See section below for using this feature.

Transaction number will populate and cursor will move to Detail Section of screen.

STEP 16: Type – Will default to “J”.  Only change to “G” if posting entry to a Balance Sheet account. Press Tab

STEP 17: Comp. – Company number will default from Company in Header.  This can be changed to another company if this is an intercompany transaction. Press Tab

STEP 18: Job – Enter job or overhead number.  If this is a “G” line, this field can be blank. Type “J” requires a job number. Press Tab

STEP 19: Phase – Enter or query Phase number. Press Tab

STEP 20: Cat. – Enter or query Category number. Tab over to Debit field.

STEP 21: Debit  - Enter amount of debit. Arrow down and you will be taken to next line.

STEP 22: Continue adding remaining lines.

STEP 23:  When all lines are entered, your Debits must equal Credits.  You will not be able to save the record if the entry does not balance.

STEP 24: Click the Save Icon. The record will save and the screen will be blank.  You can add another entry at this time following the steps above.

STEP 25: Once all the transactions have been entered, click the Close Icon.

Entering an Accrual with Automatic Reversal

Journal Entries can automatically be reversed the following period by checking the Accrual box in the Transaction section.  Checking this box creates both the current transaction and the reversing transaction when the batch is posted.

Follow Steps 1 – 15 above.

STEP 16: Click Accrual box.  Entry will automatically be reversed and posted to the next period. Page down.

STEP 17: Enter Details - Follow steps 16 – 25 above.   

Note: In this example we are using Type = “G” since the entry is a balance sheet item.

Print JC Transaction Edit Listing

STEP 1: Click Job Costing

STEP 2: Click Transaction

STEP 3: Click JC Transaction Edit Listing

STEP 4: Company – Will default based on User  Defaults.

STEP 5: Batch Type – Defaults to “Unposted”.  “Posted” can be selected for previously posted batches.

STEP 6: Enter or query Batch number.

STEP 7: Click Print.

STEP 8: Click Run Report.

· Do not change Destination to “Printer”, leave as “Preview”.  This will open in PDF and you can print to printer at that time.

Review Report for accuracy (See Correcting Unposted Batches below).

Correcting an Unposted Batch

Transactions can be edited or deleted prior to posting by querying the batch and making the necessary corrections. Additional entries can also be added to the batch prior to posting.

STEP 1: Click Job Costing

STEP 2: Click Transaction

STEP 3: Click Enter Cost or Billing Transaction

STEP 4: Double click in the Batch field.

STEP 5: Locate Batch by using scrollbar or querying and then clicking Find.

STEP 6: Highlight Batch.

STEP 7: Click OK. Page Down

Screen will be blank. If you want to add a transaction, you can do so at this time. If correcting entry, you must locate the Transaction to change.

STEP 8: Click the Enter Icon or F11. Screen will turn blue.

STEP 9: Click the Execute Icon or F12.  The first record in the batch will populate the screen.

STEP 10: Locate the Transaction by using the Previous and Next record Icons.

Make any necessary corrections.

STEP 11: Records can be deleted by clicking the Remove Icon.

STEP 12: Once editing is completed, Save and Close screen.

Post Batch

STEP 1: Click Job Costing

STEP 2: Click Transaction

STEP 3: Click Post Batch

STEP 4: Company – Defaults based on User Default setting.

STEP 5: GL Current Year Period – Defaults to open period.

STEP 6: Enter or Query Batch.

STEP 7: Post Overhead Transactions – Defaults checked. Leave check.

STEP 8: Automatic Accrual Reversal – Defaults checked.  This will create and post the reversing entry if you checked the Accrual box on a Transaction.  If you remove the check,        your accrual must be manually reversed.

STEP 9: Preview Posting – Only check this box if you want to view the report prior to posting.  Checking this box and click “Post” does not post the batch.

STEP 10: Print Reports Immediately – Check this box to review posting reports.

STEP 11: Click Post.

STEP 12: Click Run Report.

· Do not change Destination to Printer.  This will open in PDF and you can print to printer at that time.

Job Cost Report will open.

STEP 13: Click Run Report again.

General Ledger Report will open.

· NOTE: Accrual Reversal for following month was posted.

· System automatically created Intercompany Transaction.