Create a group journal

Complete the following steps to create a group journal.

Procedure

  1. On the Group menu, click Data Entry/Group Journals. The Data Entry - Group Journals window opens.
  2. In Journal Selections, enter the relevant information for the Actuality, Period, Consolidation Type, Group and Journal Type.
  3. To show reserved journal numbers in the journal number list, select the Show Reserved Journals check box.
  4. Click the Open button. The last saved journal number is displayed. Click the New button to create a new group journal. The next available journal number is displayed in the Journal Number drop down list box.
  5. You can also select the journal number of a group journal you want to edit. Click the Show Valid Choices button next to the journal number of a group journal you want to edit.
  6. Click the Show Valid Choices button next to the Copy Rule text box and select the copy rule you want to use:
    • Fixed - Used as regular journal entry, and copied with or without year-ending rules when copied over year-end.
    • Reversing - These journals are reversed if you copy the journal over a year-end.
    • Temporary - Normally only used for the current closing of the books. These can also be copied to another period and over year-end without year-end rules.
    • Automatic - IBM® Cognos Controller uses this type for automatic transactions generated by the system, e.g. acquisition calculations.
  7. Enter a description of the group journal in the Journal text box.
  8. In the Account and Extended Dimension 1-4 columns, enter the account code and relevant dimension codes for each journal entry. Group journals can be created in different types of accounts, main accounts as well as statistical accounts. However, you cannot update a group journal in a summation account. The account name is automatically displayed in the Text column.
  9. Enter the amount in the Debit/Credit columns or in the Amount column, depending on the settings in the general configuration, on the General 3 tab.
  10. Repeat steps 7 and 8 until all journal entries have been entered.
  11. Click Save. At the lower left hand corner of the window a reconciliation of debit/credit of values entered in type A, L, E, I, and C accounts is displayed. The reconciliation is performed in accordance with the rules defined in the general configuration, using the Reconcile tab. You cannot close the window unless the amounts balance.

Results

  • On accounts for shares (internal or external), you will only be able to enter a total amount, no details. To enter details you go to Group/Data Entry - Shareholdings and Investments in Group Companies or Company/Data Entry - Reported Values.
  • On intercompany accounts, you will be able to enter a total amount, no details. To enter details you go to Company/Data Entry - Reported Values or Company/Data Entry - Company Journals.
  • If you are working with main accounts and statistical accounts, which are defined with codes for reconciliation between accounts, it is important that you consider updating both types of accounts. If this is not done, there may be reconciliation errors between accounts.
  • Group Journals are included in the basis for acquisition calculations on the next level.