You are here: 2. General Ledger > 2.4. GL TRANSACTIONS Menu: Posting Transactions > 2.4.2. GL Transactions - Standing Journals > Creating a New Standing Journal Template

Creating a New Standing Journal Template

A standing journal template can contain one or multiple journal entries. Although you use the same initial screen to create a new template for each transaction type (payments, journals and receipts), you should not mix transaction types in the same template.

  1. Select GL TRANSACTIONS | STANDING JOURNALS.

Micronet displays the Standing Journal screen.

  1. Complete the following fields:

 

Field

Value

 

Batch Description

Enter a meaningful name for the standing journal template. This description prints on the General Ledger Transaction Audit Report.

 

Type

Select the template type:

  • Standing Journal – the majority of your templates will be Standing Journal type
  • Standing Journal Accrual – use Standing Journal Accrual type to have the General Ledger automatically prepare a reversal batch in the following month. These are special types of journals, usually used at year end to accrue certain expenses in the current financial year.

 

 

Technical Tip

If you create a Standing Journal Accrual type batch, you load the reversal batch the next month by selecting GL TRANSACTIONS | GENERAL LEDGER TRANSACTIONS and then selecting FILE | LOAD BATCH.

 

 

Consider in Cashflow

Set this field to Yes.

 

Schedule

Select the frequency to post the transactions in this template, e.g. Daily, Weekly or Quarterly.

For transactions that are not processed at regular intervals, select Manually.

 

Next Date

If you selected an option other than Manually in the Schedule field, enter or select the next date that the standing journals in the batch are to be processed.

 

Subsequent Date

Micronet calculates and displays the next Subsequent Date based on the Schedule assigned and the Next Date entered.

 

Remaining (-1 always)

Enter the number of times that this standing journal batch is to be processed. If you enter -1, the batch will run indefinitely.

 

Batch Type

Select the standing journal transaction batch type. Options are:

  • Payment – the default batch type
  • Journal
  • Receipt.

 

Control Amount

If you want Micronet to check a control total for the batch, enter the control amount. Micronet compares this control total to the transactions entered and warns if the batch is being processed with an apparent out-of-balance total.

Note that it is not necessary to enter a Control Amount. If a Control Amount is not entered, when posting the batch Micronet displays a warning that the batch does not balance with the Control Total.

This field is only enabled if the Use Control Totals field on the General Configuration screen is set to Yes (refer to "Edit - General Ledger Config - General Ledger Setup").

 

Period

Select the General Ledger period (month) for the batch to be posted to.

This defaults to the current period as set on the General Configuration screen in company configuration (refer to "Edit - Program - General").

Micronet allows full post and pre-period journalising. Care should be taken when using this feature since your balances in accounts are affected.

 

Total Debits

Micronet displays the total debits of transactions posted.

 

Total Credits

Micronet displays the total credits of transactions posted.
  1. Enter the individual transactions in the standing journal batch according to the Batch Type selected: