Journal Voucher – An overview

Introduction

All Business transactions that have financial implication need to be recorded in the books of accounts. These business transactions are recorded through passing accounting entries. Vouchers are the basic documents used for recording accounting entries.

Journal vouchers are used to record non bank/non cash business transactions. Examples include Passing adjustment entries, Creating provision and accruals at year end, Rectification entries etc.

Feature Highlights

• Supports automatic generation of journal vouchers through passing accounting entries and capturing analysis / sub analysis codes / cost centers.

• Memorandum journal vouchers can be passed for simulation purposes. Memorandum vouchers do not affect / update the account balances.

• Creating recurring journal vouchers based on scheduler with the option to set it up to re-occur daily, weekly, monthly, or spanning over different defined financial periods.

• Creating post dated journal vouchers with transaction date that is later than the system date is allowed for recording future transactions in the books of accounts. They get automatically posted as on the transaction date into the Finance book.

• Posting of journal vouchers on request from other components in the nature of provision for bad debts written off, etc. will be initiated by the respective components.

• Distribution number setup forms part of this component and is defined for finance book. These are primarily used for recording entries through journal vouchers. Distribution Number Setup identifies a set of accounts, cost centers, analysis / sub analysis codes, along with transaction currency, and optionally the ratio in which, an amount is to be apportioned.

• Facility to convert memorandum vouchers to regular vouchers is available.

List of Activities