Journal Type
Journal type or types of journals in accounting refer to the categories or types of financial transactions recorded in journals. Common journal types used in accounting include general journals, sales journals, purchase journals, cash journals, bank journals, and payroll journals.
Each journal type has a different format and structure, depending on the type of transaction being recorded. Using the appropriate journal type is essential for maintaining the accuracy and consistency of financial information in a company's accounting system.
SOFICloud program allows you to define journal types according to your company's needs. The system will create unique journal numbering for each journal type, and you can present journal reports based on the created types.
Setup
To complete the journal type information, click on the static data/general ledger menu/journal type. The system will then display a menu as shown in image 3.3.3
- In the Code field, type the desired journal code or leave it blank, and the system will automatically provide the journal code that you register.
- In the Description combo box, type the description or name of the journal.
- In the Classification combo box, select the journal classification, including whether it belongs to purchase, sales, or general journals.
- Press the Save button to save the data that has been created.