Adding a Journal Entry Link
A journal entry link is an association between an inventory record and a journal entry line. The journals that are linked are typically account adjustments to the original invoice. Specifically, links are established when journal entries change the capital outlay total or resolve fund or function errors. The links are included in the capital outlay reconciliation. Other adjustments between capital outlay accounts of the same fund and function do not have to be linked. "Adjusting" links are between an inventory record and two or more journal entry lines that have equal debit/credit balances. The asset's valuation established by the invoice link is not changed when account adjustments are linked. However, this is not a requirement. Journal entry links can establish or change the valuation of an asset. To establish the links, you identify the inventory record first, then the journal entry lines. The inventory record and journal entry must be entered in the same fiscal year.
In the illustration below, assume two film projectors are invoiced under a non-consumable supply account and that a journal entry is prepared later to reverse the post to supply and to debit the proper capital outlay account. The projectors are inventoried in unit records and linked to the invoice. To begin, one of the projectors is selected and linked to the journal entry adjustment. You must position the inventory record on the "Work with Inventory" (either by Acquisition Date or by Record Number). When the journal entry involves identical items of the same acquisition, the inventory record should be the first record of the "block.” This assumes the items are inventoried under consecutive record numbers, which is typical. Selecting the first record will simplify the copy process. Once positioned, place a "9" next to the record and press [Enter] to access the "Work with Links" menu. To select journal entry functions, key a "2" and press [Enter].
TEST_Testing Client Record Number.......: FY:92 Work with Links 9200131 Extension Number.......: 00 FAB4PVR
Select one of the following, press Enter. 1. Work with invoice link 2. Work with journal entry link 3. Work with receipt link
Selection 2 F3=Exit
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Tutorial 14.1
Adding a Journal Entry Link (Continued) From the "Work with Journal Entry,” enter the journal's month and number under the caption "To add " and press [F9].
TEST_Testing Client Record Ex 9200131 00 FY:92 Work with Journal Entry Link Units 1 Disposition: 0 FACIDTR Total Unit Cost 653.45 J/E Unit Cost .00
Description 16MM PROJECTOR
To add, identify journal entry by month or month and number J/E Month: 05_ J/E Number: 20507_ Type options, press Enter. 2=Edit 3=Copy Link 5=Display Opt Month Number Line 8=Retrieve J/E Month and Number Link Type Count Allocated Cost
Date
F3=Exit
F8=Link J/E Entries
F9=Link J/E Lines
F15=Fast Exit
J/E Month is the number of the month - 1 for January, 2 for February, etc. If you do not know the journal entry identification or you wish to select multiple journal entries, press [F8] to obtain a list of journal entries. You can position the display by entering a month or month and number combination. Place a "1" to select one or more journal entries and press [Enter].
TEST_Testing Client FY:92 Link Journal Entries FACRDFR
Record Number.......: 9200131 Extension Number.......: 00 Description.........: 16MM PROJECTOR J/E Month: 05_ J/E Number: _____ Select one or more journal entries, press Enter. 1=Select Opt _ _ _ _ _ _ 1 _ _ Month 05 05 05 05 05 05 05 07 07 Number 20501 20502 20503 20504 20505 20506 20507 20701 20702 Title 5/1/92 LGIP W/D 5/4/92 LGIP W/D 4/92 LGIP INTEREST 4/92 OSBA TANS INTEREST OCATS TRANSFER TO STAFF TRAINING BRADY TRUST FUND INTEREST JAN-MAY FILM PROJECTOR ACCOUNT CORRECTION A ZINK-CORRECT ACCT ZERO P/R WITHHOLDINGS
+
F3=Exit
Once the journal entry identification is keyed or selected, "Link Journal Entry Lines" is presented. This screen displays all lines of the journal entry. The letter "N" that appears to the Tutorial 14.2
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Adding a Journal Entry Link (Continued) left of each line indicates that no journal link has been established. This is the normal situation. If a "Y" appears, then a link to at least one inventory record exits. You can display the linked inventory records and determine if the entire line amount is allocated by keying a "8" under the options column and pressing [Enter]. You remain in "Link Journal Entry Lines" until you select lines or exit. It is essential that both sides of the account code correction are selected; otherwise the asset's valuation is changed. Place a "1" next to each line of the adjustment and press [Enter].
TEST_Testing Client FY:92 Link Journal Entry Lines FACQDFR
Record Number.......: 9200131 Extension Number.......: 00 Description.........: 16MM PROJECTOR J/E Month....: 05 J/E Number: 20507 Title........: FILM PROJECTOR ACCOUNT CORRECTION Line Number..: ________ Select one or more lines, press Enter. 1=Select 8=Reconcile line Opt Line Number 1 N 1.000 1 N 2.000 100.2576.00541.040.000 Description/Account 100.2576.00461.040.000 1306.90 Line Amount 1306.90-
F3=Exit
The first line of the adjustment is the reversal of the non-consumable supply expenditure. Since this is not a capital outlay account, a "Warning Notification" is displayed. The same screen was presented when the invoice line was linked. Press [Enter] to continue to the "Add Journal Entry Link.” Press [F3] to cancel and return to the "Link Journal Entry Lines.” In this illustration, the [Enter] key is pressed.
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Tutorial 14.3
Adding a Journal Entry Link (Continued)
TEST_Testing Client FY:92 Warning Notification FNBFPVR
To proceed with operation, press Enter.
F3=Exit to cancel operation. Warning: line to link is not a capital outlay expenditure
For each line selected, the "Add Journal Entry Link" is presented. Since journal entry lines cannot reference units, the number of units involved in the adjustment must be entered in the J/E Units field. Initially, this field is defaulted to 1. This type of link is an example of a one to one allocation where one unit of journal line is linked to one inventory record. Once the screen is completed, press[Enter] and respond with a "Y" to confirm the addition.
FY:92 Add Journal Entry Link Complete screen, press Enter. Record Number.......: 9200131 Extension Number.......: 00 Type................: 4 Machinery & Equipment Description.........: 16MM PROJECTOR J/E Line Description: FILM PROJECTOR ACCOUNT CORRECTION J/E Line Account....: 100.2576.00461.040.000 Link Type...............: 0 Base Link Type Count.........: _____ J/E Line Amount.........: 1,306.90times Percentage Allocation...: 100.00 % equals Allocated J/E Amount....: 1,306.90divided by J/E Units...............: ____2 equals Unit Cost Allocation....: 653.45Units Allocated.........: F3=Exit F4=Prompt 1 CONFIRM: Y (Y/N) TEST_Testing Client FACLPVR
F6=Percentage/Direct Allocation
Tutorial 14.4
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Adding a Journal Entry Link (Continued) Once the link to the non-consumable supply account is established, the "Add Journal Entry Link" is presented for the adjustment to capital outlay. No intervening "Warning Notification" screen is displayed when the reference is to capital outlay. Again the number of units involved in the adjustment is entered in the J/E Units field. Once the screen is completed, press [Enter] and respond with a "Y" to confirm the addition.
TEST_Testing Client FY:92 Add Journal Entry Link Complete screen, press Enter. Record Number.......: 9200131 Extension Number.......: 00 Type................: 4 Machinery & Equipment Description.........: 16MM PROJECTOR J/E Line Description: FILM PROJECTOR ACCOUNT CORRECTION J/E Line Account....: 100.2576.00541.040.000 Link Type...............: 0 Base Link Type Count.........: _____ J/E Line Amount.........: 1,306.90 times Percentage Allocation...: 100.00 % equals Allocated J/E Amount....: 1,306.90 divided by J/E Units...............: ____2 equals Unit Cost Allocation....: 653.45 Units Allocated.........: F3=Exit F4=Prompt 1 CONFIRM: Y (Y/N) FACLPVR
F6=Percentage/Direct Allocation
The "Add Journal Entry Link" has the same functionality as the "Add Invoice Link.” From the "Add Journal Entry Link,” you can use either the percentage or direct allocation method to achieve a one to many unit allocation or to separate amounts of unlike units. The [F6] key is used to switch between the percentage and direct allocation methods. The Units Allocated field is used when the cost of many component parts are linked to the same inventory record. After all selected lines are linked, you are returned to "Work with Journal Entry Link.” The new links are added to the display. The Total Unit Cost is the asset's valuation and remains unchanged. The J/E Unit Cost is the sum of the journal links. From "Work with Journal Entry Link" you can change or delete links (option "2") or display links (option "5").
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Tutorial 14.5
Adding a Journal Entry Link (Continued)
TEST_Testing Client Record Ex 9200130 01 FY:92 Work with Journal Entry Link Units 1 Disposition: 0 FACIDTR Total Unit Cost 653.45 J/E Unit Cost .00
Description 16MM PROJECTOR
To add, identify journal entry by month or month and number J/E Month: 05_ J/E Number: 20507_ Type options, press Enter. 2=Edit 3=Copy Link 5=Display Opt _ _ Month 05 05 8=Retrieve J/E Month and Number Allocated Cost 653.45653.45
Number Line Date Link Type Count 20507 1.000 5/29/91 Base 0 FILM PROJECTOR ACCOUNT CORRECTION 20507 2.000 5/29/91 Base 0 FILM PROJECTOR ACCOUNT CORRECTION
F3=Exit
F8=Link J/E Entries
F9=Link J/E Lines
F15=Fast Exit
When all links are established, press [F3] to exit to "Work with Links" or [F1] to exit to "Work with Inventory.” It is necessary only to establish links for first film projectors. The links are added to the other projector unit by the "Copy Links" function, option "10" from "Work with Inventory.” An alternative is to remain in "Work with Journal Entry Link" and use option "3" to copy each link.
Tutorial 14.6
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