Background: Journal Template Maintenance
Use the Journal Template Maintenance (GSM) program to set up, change, and delete templates that the General Journal Entry (GIP) program uses for frequent journal entries. See Road Map for work flow.
This topic has these subtopics:
Uses
Variance Warning
Currency
Uses
If you are making a simple debit/credit entry in the General Journal Entry program, you do not need to use a template journal. For more complicated entries (for example, entries for the electric bill), you can use a template journal that you set up in this program. Setting up a template can save you time and reduce errors during the entry process.
Templates are advantageous for journal entries that are long and use the same accounts each period. For example, payroll journals contain entries for salary, overtime pay, accrued vacation time, sick time, and medical insurance. Some companies can have 20 different accounts for a payroll journal. You can set up payroll entries in a template journal. The General Journal Entry program displays the organizations and accounts, and you enter the amounts each period. If you pay only salaried employees for which the amounts do not change, you can also set up the amounts in the template journal.
Variance Warning
When you use a template, organizations and accounts for transactions display. For each account, you can enter an amount that changes each period. The General Journal Entry program can tell you when you enter an amount that exceed the percent variance that you set up in this program. For example, if the electric bill is normally $1,100.00 a period and you enter $11,000.00 one period, the program can display a message.
Currency
If you post to accounts that use different currencies, you need to determine the current exchange rate and enter the appropriate offsetting entries.