Create Capital Journal – A summary of the activity

All journal entries pertaining to the assets have to be entered through this activity. The capital journal entries can be categorized as “Normal Voucher” (which denotes the journal voucher) and “Reversal Voucher” (which denotes the reversal journal voucher) based on the nature of transactions.

• Journal Voucher – is used for recording non-bank / cash transaction like transfers or adjustments. Transactions like provisions, rectifications, reconciliation transfers or adjustments are typical examples of situations where regular journal vouchers are created

• Reversal Voucher - is used to enter transactions, which need to be automatically reversed during a specified future open financial period. The reversal journal vouchers are created during currency revaluation or for adjusting bad debts.

This activity allows you to create a capital journal. You can specify the type of voucher to be raised, the finance book to which the entries are to be posted, the numbering type based on which the voucher numbers are automatically generated, the date of the transaction and the reversal period if the voucher type is reversal. This page also allows you to specify the accounting information like asset and tag number, the account code, debit/credit identifier of the transaction, the transaction amount, the asset proposal, the analysis and the sub analysis code and the cost center.

The system generates the voucher number based on the numbering type selected and updates the status of the voucher to “Fresh”. The system also updates the login ID of the user and the system date along with the newly created capital journal details.