Journal Entries

Use journal entry transactions to enter payroll, withholding, and absence accrual data, if you are not using the Deltek Payroll application.

You can also use journal entry transactions to record non-cash transactions and reclassify posted transaction amounts, record depreciation of assets, and redistribute expenses.

Warning: It is very risky to use journal entries to move timesheet charges from one project to another; to make an entry that affects any accounts receivable, accounts payable, or current year’s profit and loss account; or to adjust billed revenue. Using a journal entry transaction in these situations causes a file reconciliation issue. A file reconciliation issue (file rec) is a discrepancy between the sum of the detail for an account and the same account's balance in the general ledger.

Guidelines

When you enter journal entries, the following guidelines apply:

• You must specify both the debit and the credit for the transaction. No automatic postings occur when you post journal entries.
• If you are using the cash-basis reporting feature, you can record a journal entry as an accrual entry, a cash entry, or both.
• If you are using a journal entry to record unbilled revenue, you must make an offsetting entry to your Unbilled Services account.
• If you specify a Balance Sheet account in a journal entry transaction, you must enter a project number if you are using Organization reporting and maintaining separate balance sheets for your organizations.
• If you are entering a journal entry using a regular project number, you must enter a reimbursable or direct account in the Account field.
• If you are entering a journal entry using an overhead project number, you must enter an indirect account in the Account field.