Having an easy way to correct mistakes in a journal entry is essential, especially if you have bulk of journals to process. This is now easier to do with the introduction of the copy journal function as part of the latest enhancement in Business Central Wave 2 2020.
It helps finance executives to correct posting general journal entries quickly. Before the standard functionality of updating general ledger entries is to use the reversed transaction function, this function creates reversal entries for the selected records with less flexibility. The copy journal function on posted general journals makes journal entry reversal much more manageable. The user can now set parameters such as the new posting date and the reverse sign, which gives the user more flexibility in correcting journal entries.
Before using the copy journal function on the posted journal, we need to go to the general journal batch and enable the Copy to Posted Jnl Lines.
Selecting the check box will enable the function and allow for more options for correcting journal entries.
1 | Posted general journal page:
This page will allow you to see journal entries posted on the general journal batches that we enable the copy to posted Jnl lines function. Also, on this page, we can see the New Copy Journal Action.
2 | Copy journal action:
This will allow the user to copy general journal lines and set parameters for reversing journal entries.
3 | After the general journal lines have been copied and parameters have been set, a notification message will display that will assist the user in navigating the general journal entries created.
4 | General ledger entries have now been created.
We hope this helps you when working with journals. Do you have other features you want us to write about in the future that can help you do your job easier? Comment below and let us know.