Nominal Transactions - Nominal

The various types of journal include a single entry journal with matching debit and credit amounts; multiple debit and credit journals (up to a maximum of 200 in one journal) provided that total debit amounts equal total credit amounts; provisional transactions (accruals and pre-payments) and an automatic procedure to reverse provisional transactions; a simple procedure to reverse any journal; and up to 40 user-defined transactions to simplify standard and repetitive journal entry.

Single Debit/Credit Entries

Not used much today as it has been replaced by the multiple entries option, in fact this option isn’t on the default menu, you use this type of journal to post simple debit/credit transactions. The nominal ledger can write this as just a single transaction — with an entry for both the debit and the credit account — or as two transactions, one with the debit account and value, and the other with the credit account and the same value.

The reasons you might wish to write just a single transaction are so that you can print both account codes on audit trails (which tells you where the other side of the journal was posted) or should you need to save space.

On the other hand, if you want to use the DataFiler database or ProFiler application generator to produce reports from the nominal transactions file, you may find this easier if this type of transaction writes two journal records, so that each one has only one account code in it.

Write Only A Single Transaction Record?

Set as appropriate here.

Note

This is the more common journal option and it is the option available as default on the menu. You use this type of journal where there are many entries, for which the sum of all debit values must equal the sum of all credit values. A journal transaction is created for each line of the journal, each one of which holds a credit or debit account code and the associated amount.

This option allows the input of additional information for each entry.

Remember Reference during Entries

Remember Analysis during Entries

If you are using reference and analysis fields, and generally want them to hold the same value for each entry in the journal, then it saves time to remember them from one entry to the next. This does not preclude you at run time from changing their values on each line — if you do, then the new entry is offered for the subsequent line. The values are not remembered from one journal to the next, however.

Set as appropriate for each of these questions.

Note

You can decide whether or not to enter a description and/or a date for each line of the journal. Set each question above if you want them on each entry line, or leave blank to use the journal header description and/or date in every journal line.

If you choose to enter these on every line, then at run time the journal header values are offered as defaults for the first journal entry, and the previous line entry is offered as the default for each new journal entry thereafter. Individual dates must lie in the date range of the period given for the journal.

Provisional Single Debit/Credit Entries

Provisional Multiple Debit/Credit Entries

The answers you have already given for single and multiple journal entries apply to provisional single and multiple journals too. These menu options are given here only for the sake of consistency with the nominal ledger program, and you do not need to make changes here, therefore.

Note

The transactions themselves are defined in the nominal ledger program itself — see under Nominal Instructions above. The definition file allows up to 40 user-transactions to be defined. If this becomes full and you need more options then you can set to allow multiple transaction definitions here.

Allow multiple transaction definitions (suffix 0nn)

Set, when you have used all 40 transaction definitions in the main definition file, to allow multiple definitions.

More User Defined Journals

These questions apply to the automatic reverse provisional journals process, which creates new journals which are the reverse of the original journal entries, but without the provisional flag (the provisional flag is also cleared from the original entry when they are reversed at run time).

Write Transactions With Original Date?

You can choose whether to use the original transaction date when new journals are written to reverse provisional journals, or whether to use the date of the run. You might choose to use the original date if using the next journal number (see below), or to use the run date if sticking to the original journal number

Use Next Journal Number On Reverse?

Each provisional journal which is reversed creates a new journal in the file. Either you can use the original journal number for the new journal or the next journal number in sequence. Set as appropriate.

There are pros and cons to either choice. Using the original journal numbers means that the strict journal sequence is disturbed, but makes is easier for you to find the original journals. Using the next journal number each time maintains the strict journal sequence, but may make it harder to locate the original provisional journals which they reversed — a good reason to write it with the original date.

Force Provision to have reversal date

The provisional entry can ask for a date to reverse it as – set to force input of a reversal date.Entering a reversal date makes the actual reverse process easier as you automatically only reverse transactions due in the period, whereas if left blank you have restrict the provisionals processed by record number, input date or original journal number.

Omit Overtype of Journal Number

This option applies to all the above options and allows you to prevent the overtype of the number when you create journals in the nominal ledger allowing you to maintain a strict numeric sequence. Set as appropriate.