General Ledger Accounting Cycle

What are the different types of Journal Entries?

• Standard journal entries

• Foreign and dual currency journal entries

• Statistical journal entries

• Inter company journal entries

You can use recurring journals to create three types of journal entries:

• Skeleton entries affect the same accounts each period, but have different posting amounts.

• Standard recurring journal entries use the same accounts and amounts each period.

• Formula entries use formulas to calculate journal amounts that vary from period to period.

What are the different conversion types in Journal Entries?

The conversion Type can be the Spot, Corporate, or User type, or any conversion type you defined.

Budgetary control transactions can have the following statuses:

Pending: Funds reservation request is pending

Approved: Funds reservation request is approved

Rejected: Funds reservation request is rejected

Checking: Funds check request is pending

Passed Check: Funds check request has passed

Failed Check: Funds check request has failed

Fatal: General Ledger detected an irrecoverable error