Creating Audit Journal

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Overview

To open the Create Audit Journals grid select Create Audit Journals from the CCH AP Task Bar.

Audit Journals

Entering audit journals follows a similar process to entering normal journals, however for audit journals you can save any number of batches of unposted journals which will be considered potential journals (not yet agreed with the client).

When you enter the optional Batch Reference e.g. A123 Batch 1. This reference is associated with all entries made in the batch.

Adjustment Type

Select the type of the adjustment being entered from the Type drop-down:

  • Adjusting

  • Group Elimination

  • Projected Error

  • Reclassification

Enter the journal batch lines as appropriate. Note that, as with journals, you can toggle between entering amounts as positive for debits and negative for credits, or using a debit/credit column format.

CCH Accounts Production will allow you to save unbalanced Batch entries, but will only allow you to post once the batch Balances.

Potential journals

If the batch of journals are potential entries that have not yet been agreed with the client, click on [Save] to save the batch. Note that you cannot save some entries in a batch but leave others unposted so ensure that each batch represents entries that will be approved as a single concept. Unposted entries will have no effect on the balances in the trial balance.

Agreed journals

If the journals being entered are agreed, then click [Post] to commit the batch. Once you post audit journals they will appear in the View Transactions grid and update the Trial Balance.

Related

Audit Trail
Viewing Posted Audit Journals
To view posted Audit Journals, select View Audit Journals on the CCH AP Task Bar. A grid appears showing any potential audit journals for the dataset. Click the Posted radio button in the Actions panel and the system will list all posted Audit Journal batches.
Viewing Potential Audit Journals
To display a grid showing any potential audit journals for the dataset select View Audit Journals on the CCH AP Task Bar.
Claiming CGT reliefs/adjustments
You should use this to claim Relief/adjustments for Capital Disposals made by a company. The claim for Relief/adjustments is made per Capital Disposal and you may only claim one relief/adjustment per Capital Disposal.
Claiming CGT reliefs/adjustments
You should use this to claim Relief/adjustments for Capital Disposals made by a company. The claim for Relief/adjustments is made per Capital Disposal and you may only claim one relief/adjustment per Capital Disposal.
Adjustments To Print
The Adjustments to Print window is used to identify adjustments that are still to be printed. Once printed successfully, you can select the Printed check box to indicate that the adjustment has been printed correctly and can therefore be removed from the display.
Printing the adjustment
Sorting adjustments by column
Making an adjustment for a debtor amount
The Adjustments window allows you to make adjustments to debtor amounts entered through the Receipts window. Adjustments are used when a change is required to an existing invoice. You can then print an adjustment note. Discounts and bad debts are entered in the same manner as adjustments, i.e. by entering the amount in the appropriate field. The Adjustments window is also available from the Purchase Ledger. This window allows you create adjustments to payment amounts entered through the Payments window. You do not need to print an adjustment note for a creditor adjustment. NOTE Adjustments are matched to existing invoices, whereas credit notes are not matched and are credit for future work only.
Entering a Supplier's adjustment or credit note
In case goods are returned to a supplier after they have been invoiced in the system, the supplier may issue a credit note for the goods. To enter the credit note in the system, enter a negative invoice amount. Then allocate this credit note against the relevant invoice.
WIP Adjustments
There are times when the value of WIP entered against a client is not exactly the amount that will be charged at the time of billing.
Adding/Adjusting Fields
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