General Ledger Accounting Software

Posts Tagged ‘journal’

Demonstrating a General Ledger Journal and Customer Opening Balances using Atlas.

Creates GL journal entry transactions from the Excel user interface. Allows the user to select GL accounts by using the standard Accpac standard finder within Excel. Compatible with Sage Accpac ERP versions 5.4, 5.5, and 5.6.

journal entries posted to the general journal, the general ledger, or both?

This movie demonstrates how to enter and allocate a Client Journal. The Client Journal is the 4th data entry item located on the Receivables menu in the Accounts mode of the SapphireOne ERP, CRM and Accounting Software solution. Other content: – Accessing the Find screen – Tools and Options menus – Reverse Transaction

One of the accounting procedures is to record a transaction in the journal.
Another one is to transfer each record to General ledger which is the T-Account, I guess, and it’s called Posting.

My question is: When the accountant records the transaction in the Journal, does immediately post it to the t-account, or posting will be done at the end of the period to prepare financial statements?

I have a question. For the purchases journal, if I am to record a transaction for which I bought a good from a certain company. I assume that it is FOB shipping point since it does not specified. There is a freight charges. SHould I credit accounts payable and debit merchandise inventory? Or, should i also put debit portion to any miscellaneous selling expense or miscellanesous administrative expense from the merchandise inventory? On the general ledger, it doesnt have a freight in account.

Prepare the journal entries to record the reimbursement of petty cash fund.
General ledger account Petty cash has a balance of 3,000.00
Coins and Currency – 152.00
An IOU from Allison, an employee for cash advance- 740.00
Petty cash vouchers for the following:
Softdrinks- 200.00
Rice – 143.50
Papers – 1,700

On May 1st I purchased a campground. I paid $1000 for May’s insurance premium on the new campground. How would I post to General Ledger?

Debit; Insurance Expense $1000
Credit: Cash $1000 ??

Learn step-by-step how to enter general journal entries in CenterPoint Accounting Software for Agriculture. CenterPoint Accounting Software for Agriculture is used by farms and agricultural operations across the United States. For more information about CenterPoint Accounting Software for Agriculture, please visit www.redwingsoftware.com/centerpoint.

I’m doing an adjusting entry of $52,640(cr) in the Merchandise Inventory account in my general ledger, and I want to post it in my genereal journal.. so what do i debit?