How to work with journals in Dynamics 365 Business Central

How to work with journals in Dynamics 365 Business Central


Welcome to Dynamics 365 Business Central. This video will give you a quick overview of working with journals in Business Central. You can use journals to perform most of your bookkeeping tasks. In the Business Manager Role Center, journals are found under Finance. Under Finance you will find the basic financial features, including several Journal types. The general journals are general purpose journals used for almost all bookkeeping tasks, but there are also specific-purpose journals. If you’re using the Accountant Role Center you will also find access to journals. They are placed under Journals, and you will find the same set of journals including general journals. The different journals work almost the same way independent of feature area, so we’ll focus on general journals here. All journal types have templates. Templates allow you to set up parameters that control the different journal types. For a given journal type you can set up multiple journals to split up the task either by type or between users performing different bookkeeping tests. There are two basic ways of filling in a journal. With, or without, balancing accounts. If you’re new to Dynamics 365 or a doing tasks like registering reimbursements, it might be easier to fill in journals line-by-line without balancing accounts. Like this. For each line you specify the expense. You select the account number and type in what the expense is. And the last line is the reimbursement for the employee. This will give you a nice overview of what you’re doing and the entries you work with. When you become more familiar with journal posting you might find it easier to work with balancing accounts per line, like this. For each expense like a purchase invoice you type in the expense detail, maybe tax info, the amount, and then balance out the journal line-by-line specifying the balancing account. In this example, the vendor account. This way reduces the number of lines you must fill in making journal entry faster. Remember that when you’re working with journals you don’t have to save it. You can always leave it at come back to finish the work. If you’re not completely sure of where all the amounts end up in the income statement or balance sheet, you can always check before you post the journal by using the posting preview action, like this. It will show you all the entries that will be created in the system when you do the actual posting of the journal. Made a mistake? You can always reverse journal entries. First, you find the entry, usually by searching the G/L, then use the Reverse Register action. This will reverse the entries completely, and you can post a new correct journal. You now have an overview of general journals in Business Central, and know how and where to find it. To summarize, you can do most of your bookkeeping through journals. You can set up the journals to fit your company’s processes by using templates and splitting up the journals. You can always leave and come back to a journal. No need to save your work. You can preview the postings before you post the journals and if you do make a mistake you can always reverse the postings. Enjoy working with Microsoft Dynamics 365 Business Central. Business solutions reinvented.

Leave a Reply

Your email address will not be published. Required fields are marked *