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Creating a Journal (Cloud) ​

What it is: The process of adding an adjusting journal entry in Draftworx Cloud that modifies account balances to produce an accurate set of financial statements.

What it's for ​

After importing a trial balance, accountants typically need to make adjustments — correcting errors, recording accruals, splitting expenses, or recording eliminations for consolidations. Draftworx Cloud journals update the Adjustments column on the Working Trial Balance and flow directly through to the financial statements. Different journal types control exactly what is affected and whether the entry is pushed back to the client's accounting system.

How to do it ​

Journal types ​

Before creating a journal, choose the right type from the Adjustment Type dropdown:

TypePurpose
Normal adjustingStandard adjustment; can be exported back to the client's accounting system after finalisation.
DraftingAffects only the Draftworx trial balance, not the client's books (e.g. splitting depreciation by asset class).
Overs and undersNon-material adjustments for immaterial over/understatements; does not affect the Working Trial Balance totals.
Not recordedProvisional entry not yet approved; toggle between Not Recorded and Normal to preview the effect without committing.
Standing journalCarried forward automatically on year-end roll forward; commonly used for consolidation elimination entries.
InterimAdjustment to interim financial figures only.
BudgetAdjustment to budget figures only.

Creating the journal ​

  1. Navigate to Financial Data > Journal Entries.
  2. Select the Adjustment Type from the dropdown.
  3. In the green bar at the top, enter the Description and Reference, then press Enter to create the journal header.
  4. On the right-hand panel, use the Account dropdown to select the first trial balance entry that needs adjusting.
  5. Enter the amount in the Amount column (debits as positive numbers, credits as negative numbers).
  6. Add further lines as needed.
  7. Click Save. The journal is assigned a number and the Adjustments column on the Working Trial Balance updates immediately.

Source ​

https://draftworx.helpjuice.com/en_US/cloud/draftworx-cloud-creating-a-journal

Walkthrough ​