Journal Transaction Details

From Polygon Back Office,

Access the Chart of Accounts by clicking the Accounts Ledger button on the toolbar,

Select the appropriate Department and Account, then click the Transactions button.

This will load the Ledger Account Transactions File,

To create new Journal Entry, click New Journal button, or,

To modify an existing Journal Entry highlight a the item and then click the Change button.

To record a journal entry, enter the following data:

Date - Enter the date of the adjustment;

Transaction Description - Either type a transaction description or select one from the Pre-Set Journal Entry Description file;

Amount - Enter the transaction amount here.  This amount will be automatically entered in the first line of the Debits & Credits list.

Accounts List

At least one account credit and one account debit must be recorded here. To add an account Credit or Debit click on the line item at the left of the accounts list and select an account from the Chart of Accounts Pick List, then enter a quantity in the Credit or Debit field . Repeat this process until all required  credits and debits have been recorded.  

GST Types

•If you are recording an account credit, the following GST Types can be selected for the other account listed in the account list by clicking in the GST Type Column:

oGST Inc - General - The GST paid on this item will be shown in the GST Acquisitions field at the top of the form;

oGST Inc - Capital - The GST paid on this item will be shown in the GST Acquisitions field at the top of the form;

oGST Free;

oInput Taxed;

oNot Applicable.

• If you are recording an account debit, the following GST Types can be selected for the other account listed in the account list by clicking in the GST Type Column:

oGST Inc - The GST Received with this transaction will be shown in the GST Supplies field at the top of the form;

oGST Free;

oExports;

oInput Taxed;

oNot Applicable.

Totals & Out of Balance Figures

The Total Debits and Total Credits are calculated and displayed at the bottom of the form.  The Total Credits must match the Total Debits before the transaction can be saved.  If the totals don't match, the Out of Balance field will be shown.  This figure shows the difference between the Total Debits and Total Credits.  

If the Out of Balance figure is shown, review the debits and credits and make sure the transaction balances.  

Once the transaction balances, click the OK button to save changes.  

Polygon Back Office allows you to save the details of miscellaneous transactions which you will enter on a regular or recurring basis. Utilising this functionality will save data entry processing time for frequently used transactions. Transaction Frequency can be set to Daily, Weekly, Monthly, Quarterly or Yearly.  

Saving Recurring Transactions

To save a recurring transaction so that it may be re-used at a later date.  Fill in the transaction details as usual.  Include the transaction date, transaction description, amount, transaction type (debit/credit), and fill in the list of debits and credits.  When the transaction is balanced, the Save as a Recurring Transaction button will become available at the bottom of the form.  Clicking this button will load the Recurring Transaction Update form which allows you to set the Transaction Frequency and the last transaction date (the next transaction date is calculated based on this date and the Transaction Frequency). Please note: The transaction will NOT be automatically recorded at the interval chosen.  This is simply needed to calculate and display when the transaction was last processed and when it is next due for processing.

The Next Due On text box indicates which date will be shown next time this transaction is used.  Clicking the Advance Due Date to Next Period button will advance the due date by the selected transaction frequency.  

Enter a description for this recurring transaction in the Transaction Description text box.  This description will identify this recurring transaction in Recurring Transactions File so it can be easily found later.

Click OK to save this recurring transaction

Using a Recurring Transaction

If you have already saved a Recurring Transaction, it can be re-loaded by clicking the Use Recurring Transaction button at the bottom of the Journal Transaction Details form.  When this button is clicked, the Recurring Transactions File will appear.  Select the Recurring Transaction which you wish to use and click the Select button.  The Journal Transaction Details form will now display the information saved in the recurring transaction.  Make any required changes to this transaction and click the OK button to save changes.  

Managing Recurring Transactions

Saved Recurring Transactions can be managed from the Recurring Transactions File.  To access this file, click on the Use Recurring Transaction button at the bottom of the Journal Transaction Details form.  This will load the Recurring Transactions File where you can select, modify or remove recurring transactions.  

Changing the Frequency and/or Due Date of a Recurring Transaction

Open the Journal Transaction Details form.  Re-load the recurring transaction you wish to modify, by clicking the Use Recurring Transaction button at the bottom of the form.  When this button is clicked, the Recurring Transactions File will appear.  Highlight the Recurring Transaction which you wish to change, then click the Select button.  The Journal Transaction Details form will now display the information saved in the recurring transaction.  Make any required changes to this transaction (the transaction description must stay the same as the original description of the recurring transaction being changed) and click the Save as Recurring Transaction button.  A confirmation prompt saying "A recurring transaction with this description already exists.  Do you want to overwrite the existing recurring transaction?" Click Yes to confirm the update or click No to cancel the update. Change the Transaction Frequency and Last Transaction Date as required, then click OK to save the changes.

Transaction templates can be used when a particular transaction is used repeatedly but not with a specific frequency.  To save a transaction template, first save the transaction description in the transaction description pick-list by clicking the pick list button .  See section Description Pick Lists for more information about using pick lists.  Once the description has been saved, click the Save as Transaction Template button.  This transaction can now be re-loaded & edited at a later date by selecting the saved transaction description from the Description Pick List.