Standard Adjusting Entries

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This General Ledger system has the ability to generate standard adjusting entries. You might wish to utilize this feature any time you have adjusting entries that re-occur at the end of each month (or accounting period).

These adjusting entries are stored on a file. You can place any number of entries in the file. At the end of the accounting period you can file maintenance any amounts that have changed from the previous month and then simply take the option to generate the entries.

Following is an explanation of each field contained in a standard entry record.

Reference Number

You should enter your adjusting entry number in this field. Each entry must contain a different number. As the entries are created each month, the system will place this number in the reference number field in the General Ledger entry. Please be aware that the same numbers will be repeated each month and you must refer to the date to distinguish between entries each month. Also be cautious not to use any of your standard entry numbers when you assign numbers to your regular adjusting entries at the end of each month. This reference number can be 12 characters long.

Description

Each adjusting entry can contain a 30-character description. This description will appear beside the entry on your trial balance and transaction listings.

General Ledger Number

Each standard entry can be allocated to a maximum of ten different General Ledger accounts. If you have an entry that exceeds 10 allocations, you must break the entry down into more than one standard entry.

General Ledger Amount

Enter the amount of the allocation for each of the ten different General Ledger numbers. Be sure to enter credits as negative amounts.

The following options are available on the Standard Adjusting Entry Menu.

These menu options will allow you to build and maintain your standard adjusting entry file. You should use Post Standard Adjusting Entries from the Current Period Processing Menu to actually post these entries to your General Ledger each month.

Initial File Preparation

The first option on the Standard Adjusting Entry Menu will be used to prepare the file for your entries. You must take this option one time only on each company before you can place any entries in your file.

You will receive a warning when you select this program. If the selection was made in error, you can press F5 and return to the menu without destroying your files.

Add New Records

The second option on the standard Adjustments File Menu will be used to place standard entries in the standard entry file. This option can be run any time you have a new standard entry to add to the system.

Be sure to enter credits as negative amounts. If you have more than 10 entries, you must split the entries into a second adjustment.

File Maintenance / Inquiry

The third option from the Standard Adjustments File Menu will allow you to change, review, or delete any of your standard entries. The program can be run at any time. If the amounts change monthly on any of your entries, be sure to file maintenance these amounts before you allow the system to generate the entries.

Print Proof List

The fourth option from the Standard Adjustment File Menu will allow you to get a proof list of the entries on your file. The proof list can be run at any time.