Introduction
A journal is a worksheet that you can use before you manually enter postings into the system. When configured, journals allow you to quickly and efficiently manage posting. To use a journal, you must have a journal name, and should complete the configuration of the ledger, journal, and posting of the General ledger module.
By using the General ledger journal directly or via the General ledger processing workspace, you can perform daily activities as someone who is assigned proper security role to access the General ledger.
A journal name gives financial leaders the capability to control data entry validation and restrict posting of a journal name for users differently.
In this module, you will learn about:
- Different types of journals and their setup.
- How to configure ledger and journal setup.
- How to configure and use journals.
Let’s review the general ledger workspaces, that help users work more efficiently from one page. The general ledger workspaces provide you with one location to perform common tasks and to drill into relevant information for your day-to-day tasks.
The following workspaces are available in the General ledger module:
- General journal processing
- Financial period close
- CFO overview
- Financial insights
In the General journal processing workspace, there are many tiles, each of which perform a different task when you click on the tile.
These tiles show some initial statistics such as unposted journal entries or all journals. There are also links on the right where you can go to certain inquiries, such as the Trial balance inquiry, Voucher transactions, and Audit trail. You can also go directly to setup and look at ledger calendars, ledger currency exchange rates, and more.
To create a new journal, select the New journal tile and start working with general ledger journals. There are different types of journals that can be used in general ledger.
In the next units you will learn about different types of journals, and how to create a journal name.