Create or Reverse a Journal Entry

Use a journal entry to manually create or reverse an accounting transaction.

If you need to reverse a journal entry:

Use these steps if the journal entry you want to reverse should be posted in the same period as the original entry period. If you need to post a reversal in a fiscal period which is later than the original entry period, use the steps provided in Reverse a Journal Entry.
At least one Reverse Journal Entry Posting Group must exist before you can reverse a journal entry. To set one up, go to Financial > Setup > Posting Groups > Reverse Journal Entry Posting Group. For additional information, see Posting Group Setup.

Open the Create Journal Entry screen.
Note the active company and change it if needed.
In the Journal Type field, enter the journal type code or select the code from a lookup list.

Select the journal type that best classifies the type of transaction you are entering. You can run reports, like the Journal Detail Report screen, for specific journal types. When your choice of journal types is consistent, it is easier to find and understand the journal entries that have been created.
Complete the fields as described on the Create Journal Entry Screen Field Reference.
Choose one:
- If you want to preserve your progress but continue to create additional entries, select Save and Continue.
- If you want to send your entries to the Post Journal Entries screen, select Save Journal.
  Note: If the save takes more than a few moments, ProContractor may perform it as a background task. In this case, the background task icon appears at the upper right of the screen (next to the Help menu). You can select this icon to view the current background tasks. You can continue working during this time, but you cannot log out until all background tasks are complete.

Enter additional journal entries and/or if you're ready to post these journal entries, go to the Post Journal Entries screen to post them.

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