Transaction templates for journal entries

Transaction templates provide a simplified method for users to enter journal transactions. By using templates that you define, users can fill in amounts and post transactions without having to remember accounting details such as the debit and credit accounts.

Here's how it works:

• Set up a transaction template. For example, you create a template for entering employee advances. When you create the template, set up the accounting information (such as the journals and accounts to be used), but do not specify any amounts. You can even preselect dimensions (such as the location) to be used, and decide whether users can change the information.
• Users can then create new transactions based on your template. Because the template defines the journal and accounts for the transaction, users only select the template and enter the amounts.

This topic describes how to set up a transaction template. For information about using a template after it has been created, see Post journal entries from a template.

Create a transaction template

1. Go to General Ledger > Setup and then select Add (circle) beside Transaction templates.

   In the Template ID field, enter the name of the template.

   After you save this template, you cannot change this name.

2. Select the down arrow in the Journal dropdown list, and then select the appropriate journal.

   All transactions created with this template are posted to this journal.

3. Choose the Offset account for all the line items in the template.

   Typically you'll have pairs of balancing line items. This default offset account is used if you do not specify a line-item offset account.

4. Enter a Description of the transaction.

   The description you enter here becomes the default. You can overwrite it when creating the transaction.

5. Accept the default Status, which is Active or change it to Inactive until you're ready for people to use the template.

6. If there are fields for 1 or more reporting dimensions, select the down arrow for the dimension that you want to include. From the list that appears, select the entry you want.
What are dimensions?

A dimension is a category of data that you can organize and sort in meaningful ways. Sage Intacct provides the following predefined dimensions:

• Location
• Department
• Class
• Customer
• Item
• Project
• Vendor
• Employee
• Warehouse (if you subscribe to Inventory Control)
• Contract (if you subscribe to Contracts)

In addition, Intacct enables you to define new dimensions to suit your needs. Use these user-defined dimensions to organize and sort categories of data unique to your business. For example, if you’re a software company with multiple product lines, you can create a user-defined dimension called Line of business. Then add the values Direct customers, Channel partner, and OEM.

Dimensions enable you to collect, sort, analyze, and report on data within one category, or between categories, so you can identify key factors such as:

• Your most profitable or most costly items or customers
• The return on investment of a project or department
• Whether and to what degree a new product or product line is successful
• Which way a particular aspect of your business is trending
• Intacct dimensions give you fine control over data definition and data hierarchy

With dimensions, you can customize financial reports around specific business activities, get greater visibility into how the business is doing, and make faster, more meaningful business decisions.

Think of dimensions as a more powerful alternative to subaccounts.

Additional fees can apply for the Project dimension and user-defined dimensions. Contact your account representative for more information.

7. Each line that you enter in the Entries section becomes a line in which the user can enter data. For example, you could have 2 lines: Engineering Lunches and Engineering Brunches.
8. In the Line Items section, enter information for each journal entry as follows:

   1. Select the Account field, and then select the account to which the entry applies.

      The amounts on this line are posted to this GL account.

      If you specify an account that requires a department, location, or both, you must do one of the following: 

      • Preset the department or location.
      • Require the user to enter the department or location.

   2. Enter custom labels here. These are not account labels. Use this field to enter a term that's more meaningful for the user.

      For example, account 8765 is used for meals and entertainment. So that the function is clear to the user, label this "Engineering lunches."

   3. Select the Treat as dropdown list to select whether the item is handled as a debit or credit.

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

      You can specify an optional department, location, or both, if you use them. You can decide that the user can choose these. However, if the account you choose requires a department or location, you must preselect one.

   5. If there are fields for 1 or more reporting dimensions, select the down arrow for the dimension to complete. From the list that appears, select the desired entry.
      
   6. For dimensions, choose the appropriate Show as selection. If you want to hide the department or location from the user, select Hidden.
9. When you finish entering the transaction information, select Save.