Add an adjusting journal entry to a closed book

Use the Adjustment Journal Entries list to enter adjustments for accounting periods that are already closed. You can add an adjusting journal entry only if the books are closed. If they’re open, enter a normal journal entry instead.

If a closed period is locked, you cannot make adjustments to it without first unlocking it.

To see a list of adjustment journal entries:

Add an adjusting journal entry

When you add a transaction to an adjustment journal, you have the option of saving it as a draft or posting it right away. Draft transactions do not have to be complete—you or another user can review them later, make changes, and then post them. However, when you post a journal transaction, the entire transaction must be balanced, and all required information must be entered.

You can substantiate a transaction by associating it with a supporting attachment. You can also use the transaction allocation feature to distribute amounts across departments and locations automatically.

1. Go to General Ledger > All > Journal entries > Adjusting.

2. Select Transactions next to the appropriate journal.

   In companies that use dual-method reporting (both accrual and cash), consider to whom you grant permission for this page. It could be easy for someone to mistake a cash journal for an accrual journal if they are not named clearly. It's best for everybody else to use templated transactions.

3. Select Create.

4. Accept the current date as the date of this transaction or enter a different one.

   In non-standard accounting periods, you cannot save a general ledger transaction that falls outside the defined accounting periods. If you need to do this, add a new accounting period.

5. The Automatic reversal date field is available so that you can reverse the transaction later.
6. Enter a Description of the transaction.
7. Optionally, enter your own Reference number for this transaction.

8. Optionally, use the Attachment field to store a digital version of a supporting document permanently and safely.

   Select the arrow, and then select Add to upload your attachment An attachment is a bundle of one or more supporting documents, such as spreadsheets, scanned images, or word processor documents..

   Learn more about who can add attachments.

   Attachments are available for regular journal entries, but not for statistical journal entries.

9. Select any Tax implications for this entry.

1. Go to General Ledger > All > Journal entries > Adjusting.

2. Select the appropriate journal.

   In companies that use dual-method reporting (both accrual and cash), consider to whom you grant permission for this page. It could be easy for someone to mistake a cash journal for an accrual journal if they are not named clearly. It's best for everybody else to use templated transactions.

3. Select Add.

4. Accept the current date as the date of this transaction or enter a different one.

   In non-standard accounting periods, you cannot save a general ledger transaction that falls outside the defined accounting periods. If you need to do this, add a new accounting period.

5. The Automatic reversal date field is available so that you can reverse the transaction later.
6. Enter a Description of the transaction.
7. Optionally, enter your own Reference number for this transaction.

8. Optionally, use Attachment to store a digital version of a supporting document permanently and safely.

   Select the arrow, and then select Add to upload your attachment An attachment is a bundle of one or more supporting documents, such as spreadsheets, scanned images, or word processor documents..

   Learn more about who can add attachments.

   Attachments are available for regular journal entries, but not for statistical journal entries.
9. Select any Tax implications for this entry.

The Entries section

In the Entries section, you can add values directly to each line item, or select Show defaults to define default values to autofill each line item. To set up a value as a default for each existing and new line item, select the dropdown beside the appropriate field and choose a value. You can override any default value on any line item.

1. For each journal entry line item, select the down arrow on the Account dropdown list. Select the account to which the entry will apply. If the account does not exist, select Add to create a new one.

2. To assign the item to a department or location, select the Department or Location field, then select the appropriate department or location.

   If you enabled Enforce balancing for Location, Department, or another dimension on the Configure General Ledger page, you must select one of the following for both the debit and credit:

   • Select the same dimension member
   • Do no select a dimension member.

   For more information, see Configuring General Ledger.

3. Enter the amount to debit or credit. In either Debit or Credit, enter the amount of the transaction.

   A single line can have a value in only 1 of these fields. As you enter debits and credits, the Total boxes keep a running total. This is a quick reference to ensure a balanced entry. When you enter the next transaction (on the next line), Intacct automatically enters the amount for the debit or credit from the previous line (or lines).

4. If you use transaction allocations, and you previously selected an allocation in the Transaction section, that allocation appears here. You can override it for this line item by selecting another, or you can set a custom distribution split for the line item, as follows:

   1. Next to the Allocation field, select the Redist icon.
   2. On the Custom allocation page, enter the appropriate split Amounts, Departments, and Locations.
   3. Select Save.

5. Enter a note in the Memo field (such as "To set up opening balances") to add a memo regarding the purpose or reason for the entry.

   You can use up to 1,000 characters in a memo. When you add a new journal entry line, the memo description is copied from the previous line. However, you can overwrite this memo description.

6. If there are boxes for 1 or more reporting dimensions—such as customer, employee, or item—select the down arrow for the dimension to complete. From the list that appears, select the desired entry.
7. To add more lines to this page, select the + sign at the end of an entry row.
8. Select Post when you finish entering or editing the transaction information.

The entire transaction must be balanced. Out-of-balance transactions, in which required information is not entered, are not saved, and an error message appears.

To save this record and create another one, select Save & new. Another blank Information page displays for you to enter the name and description of the next record to add.

Edit or view an adjusting journal entry

1. Go to General Ledger > All > Journal entries > Adjusting.

2. Find the journal containing the entry in the list.
3. Select Transactions.
4. Find the transaction in the list.

5. Do one of the following:

   • Select More actions > View at the end of the row.

   • Select Edit at the end of the row.

6. If you're editing the transaction, make changes as needed. See the Field descriptions for descriptions of each page item.
7. Select Save to save your changes.
8. Select Done to return to the list.

1. Go to General Ledger > All > Journal entries > Adjusting.

2. Select View transactions on the row with the journal containing the entry or transaction.
3. Select Edit or View on the row with the transaction to modify or view.
4. Enter changes as needed. See the Field descriptions for descriptions of each page item.
5. Select Post to save your changes.

Reverse an adjusting entry

To reverse an adjusting journal transaction, edit the adjusting entry and select Reverse. Learn how Sage Intacct tracks reversals and the fields in the Reverse General Ledger Entry page.