Microsoft D365-Business Central-Financial Management -

Microsoft D365-Business Central-Financial Management

Locus IT ServicesMicrosoft D365-Business Central-Financial Management

Lesson 3: General Journals

General Journals

General Journals: Most financial transactions are posted to the general ledger through dedicated business documents, such as purchase invoices and sales orders. But you can also process business activities such as purchasing, paying, or refunding employee expenses by posting journal lines in the various journals in Business Central.

Most journals are based on the General Journal, and you can process all transactions on the General Journal page. For more information, see Post Transactions Directly to the General Ledger.

For example, you can use post employees’ expenditure of own money on business-related expenses, for later reimbursement. For more information, see Record and Reimburse Employees’ Expenses.

But in many cases, you will want to use the journals that are optimized for specific types of transactions, such as the Payment Journal for registering payments. For more information, see Record Payments and Refunds in the Payment Journal.

You use general journals to post financial transactions directly to general ledger accounts and other accounts, such as bank, customer, vendor, and employee accounts. Posting with a general journal always creates entries on general ledger accounts. This is true even when, for example, you post a journal line to a customer account, because an entry is posted to a general ledger receivables account through a posting group.D365 Power Apps

The information that you enter in a journal is temporary and can be changed while it is in the journal. When you post the journal, the information is transferred to entries on individual accounts, where it cannot be changed. You can, however, unapply posted entries, and you can post reversing or correcting entries. For more information, see Reverse Journal Postings and Undo Receipts/Shipments.

 

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