How Do I Enter and Correct Transactions?

The following checklist describes both entering and correcting transactions:

To Enter Transactions

Session Status

The status available on the Session form depends on the organization's preferences specified on the Organization>Organization Preferences form, with Administrative user rights. The organization may select a processing mode of Batch, Online, or a combination of the two to be used in the system.

• For a Batch processing mode, choose Batch-To Post or Batch-To Suspend posting.
• For an Online processing mode, choose Online Posting only.
• For a Combined processing mode, choose any of the three posting statuses: Batch-To Post, Batch-To Suspend, or Online Posting.

Entry Types

The Entry Type field is specified for each line item on the transaction entry form. The default Entry Type for all transactions is Normal and can be changed for each line or by using Entry Defaults . Valid Entry Types are shown below:

• Normal (N) is used for all accounting activity during the fiscal year (daily and month-end transactions).
• End of Year Adjustments (A) is used to indicate adjustments made on the last day of the organization's fiscal year. It requires that the line's effective date be the last month and day of the fiscal year.
• Adjust Opening Balance (AO) is used to indicate that an adjustment is being made to opening balances for an entry made to any closed fiscal year. It requires that the line's effective date be the first day and first month of the fiscal year.
• Beginning Balance (UO) is used to indicate that opening balances are being entered for the beginning of the organization's fiscal year. This entry type might be used when using the system for the first time.

All entry types are allowed; however, Beginning Balance or Adjust Opening Balance cannot be used if the general ledger account is Revenue or Expense. Either the entry type or the General Ledger account must be changed.

Faster Transaction Entry

• Use the auto-increments available (by pressing the "+" key) for Session ID, Document, and Deposit to save keystrokes. (The default Session ID was set up using the Organization>Organization Preferences>Session tab.)
• Use Entry Defaults if the same information is repeated in several lines. Entry Defaults are identified by transaction type and once they are set up, they are available for the current session.
• Use Distribution Codes to allocate amounts to predetermined segments combinations. Distributions can be based on units, percentages, or fixed amounts. (They were set up using the Maintain>Distribution Codes form.)
• Use Offsets to create the "other half" of transactions based on the transaction type (for example, Cash Receipts offset to cash). Offsets can be set up to generate interfund transactions.
• Use Tab to move the cursor to the next cell. If the cursor is at the end of the line, focus moves through the bottom buttons, then through the document, then through the table again.
• Use Shift+Tab to move the cursor to the previous cell. When the cursor is at the beginning of the line, focus moves back through the document, then the bottom buttons. Focus does not return to the table.
• Use F2 to select or clear text.
• Use F4 to drop the list or pull it up, if it is down.
• Use F5 to copy the contents of the cell immediately above the active cell (starting with the second row) into the active cell.
• Use F6 to copy the contents of the row immediately above the active row (beginning with the second row) into the active row.
• Use F7 to pull in all of the values from the Entry Defaults form.
• Use Memorize/Recurring Document to create recurring transaction entries. Enter a document name, select Actual Amounts and Recurring Document Setup check box. Then enter the First Transaction Date, Frequency, and an Ending Transaction Date or select No Ending Date.

System Edits During the Transaction Entry Process

• Verifies codes are in the Chart of Accounts.
• Checks status of codes for active, inactive, and discontinued.
• Verifies Account Code Combinations, if applicable.
• Verifies that each transaction has an Entry Type, Effective Date, and Description.
• Debits and Credits must equal by Effective Date, Entry Type, Fund, and Balancing Segments.
• For Cash Receipts and Cash Disbursements, net credit/debit to Cash must equal the document amount.
• If the Entry Type is Adjust Opening Balance, verifies that the Effective Date is the first day of the organization's fiscal year.
• If the Entry Type is End of Year Adjustments, verifies that the Effective Date is the last day of the fiscal year.
• Verifies that the proper segments have been entered for general ledger accounts. For revenues and expenditures, all segment codes are required. For balance sheet accounts, the system verifies that segments designated as Fund and/or Balancing have codes. See the table below for complete information.

Segments
G/L Account Type	Fund	Bal	Non-Bal	Restrict
Revenue and Expense	Req'd	Req'd	Req'd	Req'd
Net Assets/Equity	Req'd	Req'd	Optl	Req'd
Other Balance Sheet Accts	Req'd	Req'd	Optl	Optl

To Correct Transactions

Follow these steps to correct or change a document after it has been entered.

1. If a document is in an unposted batch, either make changes to it or delete it.
2. If the document has been posted, click Reverse Posted Document to reverse a posted document, and then reenter it correctly. For quicker entry, copy the incorrect document, and then edit the incorrect items before posting.