Journal Transactions

Overview

The following tutorial will discuss transactions in InFocus. Transactions cover all G/L transactions plus labor entries and personal transactions (timesheets and expense sheets). All the journals share some common operations, such as voiding a transaction. These operations will be discussed in the Common Journal Operations chapter. Account journals support both Batch and Real-Time entry.

Batch Entry

Batch entry can only be used for new entries and is only available if enabled in Global Settings. Batch entry allows for a series of transactions to be entered under a batch number. Totals for the entries can be viewed prior to posting the batch. Until an entry is marked posted, it does not appear in any accounting or project management reports and cannot be part of any accounting process. While it is saved, it is not part of the system.

Real Time Entry

In Real-Time mode, entries are flagged as posted as soon as they are saved. This makes them available to all reports and operations in the system. Once a transaction is posted all revisions to that entry are automatically done as real-time entries.

Audit Trail

InFocus employs a unique auditing feature. Depending on settings in Global Settings, it automatically determines if a change to a transaction line item should alter the existing data, or, instead, make a background reversing entry of the prior state of the line and insert a new line containing the changes. This technique makes corrections far simpler than a pure batch entry system and results in a more accurate audit trail. It also allows for adjustments to naturally been seen down to the line level.

The audit trail options are full or not full. When in full mode any change to critical data (In general, project, amounts, G/L accounts) causes an immediate reversing entry. When not in full audit mode, changes to critical data only generate a reversing entry if they are also accompanied by a change to the G/L period. Every time a transaction contains one or more auto-reversals, a new revision number is displayed in the header of the transaction. You can scroll backwards to view prior revisions. Each line item will also have the revision number on which they were created. In normal operation, revisions are virtually transparent to the user. For instance, if an entry contained five lines and you modified each line and saved the changes, the transaction would still show five lines with the new values.

Employee Reimbursables

Accounts Payable>Employee Reimbursables

The Employee Reimbursable Journal is where employee reimbursements are entered. Typically, they have been imported from employee expense sheets, but they can also be directly entered here. This journal makes assumptions on debits and credits. It assumes the header amount is a credit so when you enter a positive amount it saves it behind the scenes as a negative (a credit).

For more information about Employee Reimbursables, see the Employee Reimbursables section of this manual.

Expense Sheets

Personal>Expense Sheets

Expense sheets are for employees entering job-related expenses. There is no period cycle for expense sheets.

For more information about Expense Sheets, see the Expense Sheets section of this manual.

Timesheets

Personal>Time Sheets

Timesheets can be entered by employees or sub-contractors. Typically, these users enter their own timesheets, but timesheet administrators (when given special rights) can enter them in their stead.

For more information about Timesheets, see the Timesheets section of this manual.

Timesheet Adjustments

Human Resources>Timesheets Adjustments

The Timesheet Adjustments Journal is used to make adjustments against an already existing timesheet. You cannot enter new timesheets here. Once you modify an existing timesheet it can no longer be sent back to the manager or owner (timesheet rejection). Modifications to the timesheet, via timesheet adjustments, will not effect the original version of the timesheet.

For more information about Timesheet Adjustments, see the Timesheet Adjustments section of this manual.

Purchases (Vendor Invoices)

Accounts Payable>Purchase Journal

The Purchase Journal is where vendor invoices are entered. Transactions entered here must be offset against an accounts payable account (this is the header or control side of the transaction). This journal makes assumptions on debits and credits. It assumes the header amount is a credit, so when you enter a positive amount it saves it behind the scenes as a negative (a credit).

For more information about Purchases, see the Purchase Journal section of this manual.

Sales (Client Invoices)

Accounts Receivable>Sales Journal

The Sales Journal is where client invoices are entered. Transactions entered here must be offset against an accounts receivable account (this is the header side of the transaction). Typically, most transactions in the sales journal are entered automatically from automated invoicing. This journal makes assumptions on debits and credits. It assumes the detail amount is a credit, so when you enter a positive amount it saves it behind the scenes as a negative (a credit).

For more information about Sales, see the Sales Journal section of this manual.

Cash Disbursements

Accounts Payable>Disbursements Journal

The Cash Disbursements Journal is where all outgoing checks are entered. Typically entries here have been entered automatically from A/P or E/R check writing but can also be entered here manually. This journal makes assumptions on debits and credits. It assumes the header amount is a credit so when you enter a positive amount is saves it behind the scenes as a negative (a credit).

For more information about Cash Disbursements, see the  Disbursement Journal section of this manual.

Cash Receipts

Accounts Receivable>Receipts Journal

The Receipts (Cash Receipts) Journal is where all incoming checks or payments are entered. This journal makes assumptions on debits and credits. It assumes the detail amount is a credit so when you enter a positive amount it saves it behind the scenes as a negative (a credit).

For more information about Cash Receipts, see the Receipt  Journal section of this manual.

General Adjustments

General Accounting>General Journal

The General Journal holds both accounting adjustments and special transactions, such as labor distributions, revenue recognition and end of year closings. While you can make transactions that affect project management figures, these transactions cannot be part of invoicing, accounts receivable, or accounts payable reporting. Project-related transactions can, however, appear on project management reports. This is the only journal where there is no header control account or amount. Instead, the sum of all line items must zero out. Unlike other journals, no assumption is made about debits and credits. Debits are positive values, while credits are negative values. Entry rules, as far as type of account and organizational unit, are relaxed in this journal.

For more information about General Adjustments, see the General Journal section of this manual.

Common Journal Operations

For common journal operations, see the How to sections at the end of each journal chapter within this manual. Also, you can go to the Tutorials chapter of this manual to see these as well.