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  3. CommunitySuite - Accounting

Journal Entries

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You can use a journal entry to record adjusting entries. For example, at the end of each month, there may be a journal entry to record equipment depreciation. This would include a debit to depreciation expense (E) and a credit to accumulated depreciation (A). Once journal entries have been created, they can be deleted individually or in bulk.

It is strongly recommended to use journal entries only for items for which there is no CommunitySuite functionality. The reporting options on journal entries are very limited. Recommended use cases for journal entries are non-cash payroll items such as accrued leave, equity balance adjustments, and depreciation or amortization. For example, it is recommended to record cash payroll items and taxes by creating or importing vouchers. It is also recommended to consult with your auditors on their preference for using journal entries.

 

  1. Navigate to the Journal Entry page.
  2. Click Create in the left-side menu.
  3. Add the applicable Create Journal Entry information, and then click Save. 
    • After entering the debit or credit in the first line, an additional line will appear.
    • In order to save, debit or credit totals must match.  
    • Click the + Fund button to record additional journal entries.  
      create journal entry page

  4. If the journal entry requires approval, click Send to Approval in the left-side menu. Otherwise, click Post in the left-side menu.

It is recommended to track all financial transactions such as expenses and money coming in through vouchers, invoices, payments, grants, and donations.

Journal entries can be deleted in bulk or individually from the New and Approval buckets.

  1. Navigate to the Journal Entry page.
  2. Click the Approval Bucket.approval bucket

  3. Click Delete All in the left-side menu.
  4. Check the box next to each journal entry to be deleted, and then click Delete Journal Entries.delete journal entries button

  5. Click [Yes] to confirm deletion.[yes] button


When a journal entry is created with a reversal date, an additional transaction is created with the journal entry to reverse it. When the journal entry is posted, both of the transactions will be posted with it. 

transaction details page

Recurring journal entries allow a journal entry to be repeated on a scheduled basis for a designated amount of time and frequency without the need to manually submit a separate journal entry each time. 

Create a Recurring Journal Entry

  1. Navigate to the Journal Entry page.
  2. Click Recurring in the left-side menu. 
  3. Click Add Recurring in the left-side menu. 
  4. Add the applicable Create Recurring Journal Entry information, and then click Save.
    • Start Date and Description are required fields. Each recurring journal entry also requires at least one fund entry to be created. 
    • Hover over the SmartTips (question mark icons) in CommunitySuite for additional field guidance.
      create recurring journal entry page

Additional Information

  • The recurring journal entry will run, but not post, automatically based on the start date and the interval. 
  • The recurring journal entry can be run early by clicking Create Journal Entry in the left-side menu on the recurring journal entry's page. 
  • Any edits made to the recurring journal entry will impact all future journal entries, but will not adjust any journal entries that have already been created from it. 

recurring journal entry

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