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How to Enter a Journal Entry with an Automatic Accrual Reversal

Modified on: Thu, Jun 30 2022 8:23 AM

How to Enter a Journal Entry with an Automatic Accrual Reversal   

Document Overview 
- Entries will automatically be reversed and posted the following period 
 

Sample Report Below – JC Posting Report. 

 

 

Sample Report Below – General Ledger Posting Report. 

 

 

  1. Job Costing 

  1. Transactions 

  1. Enter Cost Transaction 

 

  1. Click Create Batch  

 

 

  1. Complete the fields under the Transaction Section: 

  1. Post Date: Date/month desired for entry to post 

  1. Journal: Type of journal entry being posted (most job-related entries will be JC) 

  1. Source: Where the entry is generating from (short version) 

  1. Source Desc: Detailed information pertaining to the source 

  1. Reference: Job number, “tax”, etc. 
     

  1. Check Accrual 

 

  1. Under the Detail Section: 

  1. Insert a line item for each entry needed (two lines will be inserted in this example) 

  1. Enter Type: J = Job Cost Entry, G = General Ledger Entry 

  1. Company: Enter the company number in which the project resides  

  1. Job/Dept/Eqp/WO: most of the time this is the project number 

  1. Phase/Compon/Acc/WI: this information is obtained from either the AP Voucher GL Distribution, or CMiC Project Field  

  1. Cat/Tran/Exp: This is information is obtained from the same places as Cost Codes 

  1. Debit = will increase the account being posted to  

  1. Credit = will decrease the account being posted to 

 

  1. Click Save 
     

 

 

 

 

  1. Click Print Edit List 

 

  1. Click Print 

 

 

 
Sample Report Below will generate. Review for accuracy.  

  1. Click Post Transactions 

 

 

 

 

 

 

 

 

  1. Ensure the “Print Reports Immediately” and “Automatic Accrual Reversal” boxes are both checked 

 

  1. Click Post 

 

  1. Click Run Report 

 

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