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Financial software features

We've organised the capacities of our eCommerce software through a feature-focused format.

Journal entry

Nominal Ledger functions - Journal Entry & Reversing Journals

For any company the use of journals is fundamental to the operation of the nominal ledger. Nominal journals are often required to perform a specific task; or more often, they are also required for ‘behind the scenes’ tasks to have an overall effect on the Nominal Ledger.

Nominal Journal Entry is a simple step by step user friendly task.

Journal Debits and Credits 

The user has the ability to populate

  • Transaction Date
  • Account Period 
  • Currency
  • Account Period
  • Text for Comments
  • Nett Value
  • Nominal Ledger Breakdowns

Journal Entry - Customer Details

The user is easily able to modify the Nominal postings by double clicking the preferred nominal account line, opening the Nominal Account search and selecting the relevant nominal account code.

The software system included in the standard functionality allows for the ability to reverse journals.  In essence by reversing a journal within our system, you will create an account transaction with the negative value of the journal being reversed – thus cancelling out the transaction.  This functionality is commonly used for recurring sundry transactions such as electricity bills.  The steps required to reverse a journal are simple, just highlight the required journal and click the reverse icon as detailed below. 

Journal Entry - Customer Details

The user then simply confirms the date and the Account Period which the journal should be reversed into / out of as per the screen shot below.

Journal Entry - Customer Details

Our software also allows Template Journals to be created for Journals that are frequently used such as the monthly wages journal.  The user simply creates a template within the Template Journal workflow stage and then clicks the process icon, to process it though to Journal Entry where any amendments required can be actioned.

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