Summarizing journal entries

Execute the Summarize journal entries process to merge similar journal entries into one journal entry. Summarization takes place based on the organization into journal entry categories. Journal entries of a particular category are summarized if the Summarize by default check box is selected on the Journal entry categories form.

Only journal lines with the same attributes are merged. These attributes are:

• Journal entry category
• Ledger account
• Cost center
• Currency
• Exchange rate
• VAT code for financial policy
• Sales invoice
• Purchase invoice

Exported journal entries are never summarized. Journal entries that fall in different fiscal periods based on the journal date are not merged either.

The Summary information option on the Journal entries form allows you to display the underlying journal entries of a summarized journal entry.

Note: Except for journal entry categories 860 and 304, all journal entries can be summarized.

Note: When journal entry categories 100 (Sales invoices) and 800 (Purchase invoices) are summarized, the lines are summarized by invoice code. This means that lines with different invoice codes will never be summarized into one line.

Example

Every hour line posted will result in a separate journal entry, and all of these journal entries will always end up in the same account. Summarizing these journal entries will make it easier to keep an overview of the journal entries in your financial software.

Example

Non-summarized journal entry:

Summarized journal entry:

Summary information: