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Journals Overview Video


General journals are used to post to general ledger accounts and other accounts such as bank, customer, vendor, and fixed assets accounts. Posting with a general journal always creates entries on general ledger accounts. This is true even if, for example, a journal line is posted to a customer account, because an entry is posted to a general ledger receivables account through a posting group.

There are other journals in addition to general journals, such as item transfer journals, physical inventory journals, resource journals and FA journals. Posting these journals does not create entries on general ledger accounts, but it does create other types of ledger entries. For example, the physical inventory journal is used to compare the results of a physical inventory count to the calculated quantity on hand. When you post the journal, a physical inventory ledger entry is created for every journal line and an item ledger entry is created for each journal line on which there is a difference between the physical inventory count and the calculated quantity on hand.

The information that you enter in a journal is temporary and can be changed while it is in the journal. When you post the journal, the information is transferred to entries on individual accounts, where it cannot be changed. You can, however, unapply posted entries, and you can post reversing or correcting entries.