How to enter adjusting general journal entries

Steps to enter adjusting general journal entries to the current or prior year in Sage 100 Contractor.

Entering an adjusting journal transaction for the current year

1. Open the current company.
2. Open 1-3 Journal Transactions.
3. Enter the transaction number in the Transaction# box.
4. Enter the transaction date in the Date box.
5. Select Edit and Period.
6. Choose the month and click the Select button.
7. Select 1- Open in the Status list.
8. Select the category from the Banking Category list if this is a bank-related transaction.
9. In the grid:
   • Enter a brief statement about the line item in the Description cell.
   • Enter the ledger account number in the Account cell.
   • Enter the subsidiary account number in the Subaccount cell, if applicable.
   • Enter the amount in the Debit Amount or Credit Amount cell.
   • Repeat these steps for each item.
10. Select File and Save.

 

Entering an adjusting journal transaction for the prior year

1. Open the current company.
2. Open 1-3 Journal Transactions.
3. Enter the transaction number in the Transaction# box.
4. Enter the transaction date in the Date box.
5. Select Edit and Period.
6. From the Fiscal Year picklist, select the previous year.
7. Choose 0 Prior Year from the Period# box.
8. Click the Select button.
9. Select 1- Open in the Status list.
10. Select the category from the Banking Category list if this is a bank-related transaction.
11. In the grid:
    • Enter a brief statement about the line item in the Description cell.
    • Enter the ledger account number in the Account cell.
    • Enter the subsidiary account number in the Subaccount cell, if applicable.
    • Enter the amount in the Debit Amount or Credit Amount cell.
    • Repeat these steps for each item.
12. Select File and Save.
13. Click Yes to the message "Reminder: You have selected to post to the previous year. This option will adjust...Do you want to continue?"
14. Open the archive company.
15. Open menu 1-3 Journal Transactions.
16. Enter the same journal transaction you saved in step 12 and post the record to period 12.

You've now updated the beginning balance of the current company and the ending balance of the archived company.