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When you add a transaction, it is considered open until it is posted. You can post transactions to prior dates, the current date, or a future date.
The procedures for adding transactions vary depending on the type of transaction you want to add, but each transaction must balance, meaning the total debits must equal the total credits, and the transaction date and posting month or year must be correct.
Transaction Source Codes
The table below displays when to use transaction source codes.
A Source is the journal origin of a transaction entered into the General Ledger. It represents what type of entry the transaction is. For example, the Source CHK represents a check transaction while DEP generally represents a deposit transaction.
|Adjustments (ADJ) and Journal Entries (JRE)||Correct account balances or transfers monies between accounts ONLY IF the account is not a checking account.|
|Checking Account Credit (CCR)||Corrects the checking account if the balance needs to be lowered (due to bank/user error).|
|Checking Account Debit (CDB)||Corrects the checking account if the balance needs to be raised (due to bank/user error).|
|Deposit (DEP) and Cash Journal (CSJ)||Show money deposited into the checking account|
|Check (CHK)||Used when a check is issued|