Standard Journal Entries to Speed Month End
Looking for ways to speed up your month end processing? Try creating Standard Journal Entries.
Sage 100 ERP allows for creating templates of journal entries you enter on a regular basis. This saves time in entering accounts, dollars and comments- information you enter over and over. It also reduces posting errors.
To create a Standard Journal Entry, open the General Journal Entry.
You may want to create a Source Journal specific for the journal entry or use the default JE.
Enter the posting date and comment. The comment entered here will be saved, so you may want to leave off dates and enter them at the time of posting.
Now create your Journal Entry by going to Tab 2 Lines.
Once the accounts, debits and credits are entered, select Save Standard button in the above right of the screen.
Enter a Standard Journal abbreviated name and full description. You may choose to save comments. Accept to save.
To use a Saved Standard Journal Entry for future use, open the General Journal Entry. Enter a Source Journal and Entry Number. Select the Copy From button to see a list of the saved Standard Journal Entries. Select the Entry you wish to use.
Fill in or modify the comment on the Header tab.
Select the lines tab and fill in the amount per each account in either the debit or credit field.
Select Accept to save.
Standard Journal entries you may want to save include depreciation, prepaid allocations, and accruals.
For entries that affect bank accounts you’ll want to use the Transaction Journal Entry.
Next month, when you’re entering all those month end journal entries, try saving them as a Standard Journal Entry to reduce time and increase efficiency of your month end process.
If you would like assistance with this process or would like to know other helpful methods to save time and add efficiency, give us a call.
ISM sells, supports, modifies, enhances, trains, and implements the Sage 100 ERP solution.