Create Audit Journal

Last updated:

    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.