TRAVERSE Global v11.1

Transactions

Use the Transactions function to enter GL Journal transactions, such as revenues, expenses, and asset acquisitions.

You can make journal entries to any of the periods that are not closed in the Period Conversion table, at any time in the fiscal period or year. Only transactions associated with the current fiscal year appear. To view transactions from a different fiscal year, change the fiscal year using the Change Fiscal Year function on the Periodic Processing menu.

The transactions entered are “private” or user- and workstation-specific, meaning only the logged in user on the workstation they entered the transaction on can view or edit the transactions. Once the transactions are written to the journal they become “public”, or viewed and editable by all users with permissions to the edit transactions function.

Set the General Ledger Business Rule Use Batch Processing to Yes to write the entries to the journal in a batch.

Note: You don't need to use the Transactions function to enter all GL Journal transactions. Other TRAVERSE applications (such as Accounts Payable/Purchase Order, Accounts Receivable/Sales Order, Inventory, and Bank Reconciliation) update the GL Journal with the proper entries if you interface them with General Ledger.

Use the Import button on the toolbar to open the Import Mapped Data function to import transaction data.

If you use other functions to update the GL Journal, you still must use the Transactions function to make miscellaneous entries and adjustments.

  1. To enter a new transaction, click the New button on the toolbar.
  2. Select a Batch Code, if you have the business rule set to use transaction batching.
  3. Select or enter the Account ID to which the transaction applies.
  4. Enter a Description of the transaction, for example, training. What you type here will print in the Description field on the GL Journal report.
  5. Enter the debit amount for the debit transaction in the Debit Amt box. For credit transactions, skip this field.
  6. Enter the credit amount for the credit transaction in the Credit Amt box. For Debit transactions skip this field.
  7. The current Date appears. Edit this date, if necessary.
  8. The fiscal Period corresponding to the transaction date appears. Use the default period, or enter a different period for the transaction.
  9. Enter a Source code for the transaction. You can accept the M1 default value or enter a different source code. The first character must be M for manual entries, except for automatically reversing accrual entries that must have the source code R1.
  10. Enter a Reference to identify the origin of the transaction. What you type here will print in the Reference field on the GL Journal report.
  11. Select the A box to allocate the transaction according to the account allocation record set up for the account when it is posted; otherwise, clear the box. If you select the box and there is no allocation for the account, a warning message appears.
  12. Select the C box to include the transaction in the Cash Flow Statement. Clear the box to exclude the transaction from the Cash Flow Statement (for example, in the case of a correcting entry). Clear the box only if you are sure that the transaction is not a cash flow transaction. Incorrect entries can result in an erroneous Cash Flow Statement.
  13. Enter a Comment that describes the group of transactions you are entering. The comment will be displayed in the SM System Audit | Activity function, to better reference the group of transactions you are writing to the journal.

    If you selected Yes to the business rule requiring a comment, you will not be allowed to write transactions until a comment has been entered.

  14. Click the Allocation button on the toolbar to associate the transaction with a transaction allocation record. NOTE: This button is available only if you have the Not for Profit add-on installed and if you use transaction allocations.

    The screen changes so that you can enter the transaction allocation ID to associate with the transaction and any segment values, if needed. See Allocating Transactions for more information.

    After you associate a transaction with a transaction allocation record, the system clears the Account ID field and displays the allocate to accounts at the bottom of the screen, when the allocated transaction is selected.

    When you associate a transaction with a transaction allocation record, the system automatically creates corresponding transactions in the GL Journal when you write the transaction to the journal. See Allocating Transactions for more information.

  15. Continue entering transactions until the balance at the bottom of the screen is zero. To split the offsetting amount between two or more accounts, enter the necessary additional transactions to bring the balance to zero.