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Journal Types

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Kevin Reece edited this page Feb 6, 2017 · 1 revision

Journal Types

Sage Live Journal behaviour is driven from a 'Journal Type', and this is where the Sage Live users can configure how this journal is to operate i.e. does it need to understand tax, does it need an approval process before being posted, is it append-able or not and so forth.

Listed below are the configuration options and their meaning:

  • Classification - this is deprecated and will be removed in a near future release

  • Mode

    • Net - The Sage Live user will provide the net amount and if the journal is tax aware then the Sage Live tax system will calculate and post the tax liability
    • Gross - The Sage Live user will provide the gross amount with the appropriate tax where applicable
    • Credit and Debit - This would be used mainly for importing transaction statements, but the Sage Live user can enter the debits and credits directly

  • Tax Type

    • None - The journals are not tax aware and the tax system will not calculate any tax liability
    • User Specified - The Sage Live user will be required to provide a Tax Treatment and Tax Code so the Sage Live tax system can calculate tax liability

  • Active - Is the Journal Type active

  • Is Append-able - Journal Types that are 'non-append-able' will be posted to the GL as 1 x Ledger Entry, with N x Ledger Items, where N is the number of Journal Items; this is considered as posting related items i.e. monthly travel expenses. Journal Types that are 'append-able' will be posted to the GL as 1 x Ledger Entry and 1 x Ledger Item; this is considered as posting unrelated items i.e. a bank statement.

  • Item Dimension - This is a mechanism to determine which 'Posting Rules' are applied to Journals when posting, see Posting Rules for full understanding [LINK TO POSTING RULES]

  • Requires Approval - Journal Types that require approval cannot be posted to the GL without being approved via an approval process. There is a field on 'Journals' named 's2cor__Approval_Status__c' and if this is set to false, journal creation sets the value to 'Approved'; if this is set to true, it remains at the default value 'Created'.

  • Default Tax Treatment - The Sage Live user can specify a default tax treatment for the Journal.

  • Default Tax Code - The Sage Live user can specify a default tax code for each Journal Item

  • Auto Number Format - Sage Live can generate names for the Journals, so the user does not have to provide one, this field is used as the format for that automatically generated name i.e TE-{00000} will produce TE-00001, TE-00002 etc.

  • Auto Number Key - The key is used to uniquely identify a set of criteria deserving of their own unique auto numbers i.e. {!COMPANY} created a set of sequential numbers based on the currently selected company

  • Auto Number Start - This is the number that will be used to start the auto number sequence

  • Available in Mobile - Is this Journal Type available from the Sage Live mobile app?

  • Area - This determines where in the Sage Live navigation, this Journal Type will belong, the current options are:

    • Sales
    • Purchases
    • Banks
    • Other Transactions
    • Ledger
    • None

Journals also have related to them 'Posting Rules', which are a really clever object that defines how and where transactions are posted into the GL meaning no hard coded logic, but the Sage Live user has the ability to actually account for their transactions the way that they want to, and no developers required (sorry, this is probably a developer audience :/)

[EXAMPLE] (Install the Template into your Org)

The posting rules on the above example require the following tags on each Journal Item:

  • Expense Type
  • Location
  • Host
  • Event
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