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With Journal Entry, you create batches of transactions for posting to your General Ledger accounts. Each batch
contains individual debit and credit transactions. By using batches, you can group transactions according to
source, date, time, and function.
Journal Entry provides tools you can use to make your journal and posting process more efficient, including
recurring batches and batch default sets.
A recurring batch is a template you create to post regularly occurring transactions to General Ledger accounts.
You create a recurring batch once and then reuse it by simply updating the post date and/or amounts. Examples
of recurring transactions you could use in a recurring batch template include, lease payments for office space or
computer rentals.
A batch default set is a set of common transaction information you can use to enter duplicate transaction
information. By using a default set you can save time and increase efficiency by quickly entering duplicate
transaction details within a batch. For example, a batch default set can include information such as a default post
date, journal, transaction reference, reverse on date, notes, project ID, description, status, and/or source type.
When entering transactions in General Ledger, you can add additional characteristics to each item, which enables
you to run more specific reports and financial statements. Those characteristics include projects, transaction
classes, journals, transaction attributes, and transaction codes.
You can also configure Journal Entry to simplify entering batches containing transactions from multiple funds by
automatically creating balancing interfund entries. For example, if you have a batch with a $100 debit to Fund 1
and a $100 credit to Fund 2, the batch is out of balance. But, if you mark the corresponding business rules,
General Ledger automatically creates a $100 credit to Fund 1 and a $100 debit to Fund 2.
Other General Ledger features, including import, query, export, and global change, work in conjunction with
Journal Entry to help you efficiently enter and manage your transaction data. Access to all Journal Entry functions
is limited by the security rights you are assigned in Security. Defining security rights specific to Journal Entry is
important to the process of entering and posting transactions. There are six security settings available for batches
in Journal Entry. The system administrator can assign rights to view, edit, add, validate, post, and approve
batches.
This chapter begins with a section explaining batches and other basic information to help familiarize you with
Journal Entry. Later sections include information and procedures for completing day-to-day tasks in Journal Entry.
These procedures include creating, saving, validating, posting, and reversing batches.
Understanding Batches
When you create a batch, you compile a group of debit and credit transactions that you can post to your ledger
accounts. Transactions are entries into the ledger that indicate to the program what accounts to debit or credit.
Placing transactions into a batch allows you to group transactions according to source, date, time, and function. A
batch may contain hundreds of transactions or as few as two.
Glossary: A batch is a group of debit and credit transactions you can post to your ledger accounts. Placing
transactions into a batch allows you to group transactions according to source, date, time, and function.
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Glossary: A transaction attribute is a characteristic you use to categorize a group of transactions. Unlike
projects and transaction codes, transaction attributes cannot retain an equity balance from year to year.
Glossary: A transaction code is an additional field on each transaction that helps you categorize information
for reporting and closing fiscal years. Transaction codes retain equity, but do not offer budgets, media, or
notes. Transaction codes are available only with the optional module Projects and Grants. For more
information about setting up transaction codes, see the Configuration Guide for General Ledger.