Editing and Reversing Journals

View - Accounting - Journal Entry

Your options for editing journals when they have been transferred to the Nominal Ledger are limited. It is important to go through the entries carefully before transferring them to the Nominal Ledger.

If they have already been transferred to the Nominal Ledger, you can use the Edit posted invoices and journals functionality in order to change something. Read more about this functionality in Edit Posted Invoices and Journals. Should this functionality be not sufficient enough, you must create separate correction entries in order to change something. The nominal ledger is equipped with a feature which allows you to reverse journal entries posted in a period which has not been closed.

You cannot enter journal items in a closed period.

How to delete a journal entry which has been transferred to the Nominal Ledger

Note! When you delete a journal, the next journal you create will be given that journal number so that there are no gaps in the journal number series. If you wish to delete several journals, please make sure to delete them in the correct order, the newest first and so on. This will ensure the number series will be updated correctly.

Find the journal to be deleted.
Click Delete in the toolbar to delete a journal or an entry line.
Select whether you wish to delete a Line or a Journal.
If the journal does not balance after you have deleted it, you will have to add a new entry line before you can proceed.

The line or journal has now been deleted.

How to create correction journals for journals already transferred to the Nominal Ledger

Note! Before continuing, you should select the option Show journal list on the Function tab in the user settings for journal entry. Read more in User Settings for Journal Entry.

Click New to create a new journal item (e.g. a purchase credit note) and select Date and Period.
Select Financials from the drop-down list (bottom, right hand side)
Locate the journal you are correcting. Enter e.g. the Journal number and Journal type and the journal will appear in the field below.
Mark the journal item and click Go to and then Close. The entry will display at the end of the main screen.
Click the Delete button; you can locate the button above the journal list. You will be asked whether you want to reverse the journal. Answer Yes to this. The program will then enter a new journal item inverted of the financial journal item.
Note! If you regret the reversal, you can delete the journal entry the usual way by clicking Delete from the top half of the window. You will be able to reverse the entry at a later stage.
Click Update ledgers to post the journal.

The original- and new journal will be balanced at null.

How to insert an entry line

Find the journal that is missing entry lines.
Position the cursor on one of the entry lines.
Click Insert entry line.
Enter the missing entry lines in the usual way.

The entry line has now been inserted.

How to change the period and date for a journal item

Locate the journal you want deleted/corrected.
Place the cursor over one of the entry lines.
Change the period in the period drop-down list in the toolbar.

The period is changed and you can transfer to the nominal ledger in the new period.

Date: The same procedure applies to changing the date. This will change all entry lines for the chosen journal entry to the new period/date.

Reversing Journal Entries in the Nominal Ledger/Financials

Journal entries can be reversed in the nominal ledger if the period in question has not been closed.

If the journal entry cannot be reversed, post a correction entry manually in any open period in the Journal Entry module.

Note! You cannot reverse automatically generated opening balance journals.

How to reverse a journal entry

Go to View - Accounting - Financials - Journal list.
Highlight the journal entry.
Click Delete.
Reversing a journal entry does not delete the entry from the nominal ledger. A new, reversed entry is registered (see below).
Select how you want to post the correction entry.

Nominal Ledger/Financials: A new journal entry with reversed values is created. A reference to the original entry is registered in the journal entry description. The day-book is printed.

Journal Entry: A new journal entry with reversed values opens in the journal entry module. A reference to the original entry is registered in the journal entry description. The journal entry can be edited before it is transferred to the Nominal Ledger/Financials.

Refer to the Mamut Support page at www.mamut.ie/tutorials to access this information in the form of an online tutorial. Mamut's tutorials provide you and your colleagues with short videos of Frequently Asked Questions (FAQs) free of charge. These videos include short and easy-to-follow instructions demonstrating different processes within the system.