What are different types of Journal entries?

Showing Answers 1 - 6 of 6 Answers

mahathma bachu

  • Jul 21st, 2005
 

These are Standard,Recurring,Reversal,Stastical,Formula,Budjet,encumbarance,Tax Journal

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a.s.reddy

  • Sep 27th, 2005
 

Actual, Budget, Encumbrance, Suspense, Tax, Reverse, Statistical, Recurring.

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tgs100

  • Dec 12th, 2005
 

There are 4 types of journal entries.
 
1. Basic Journal Entry - Used for most of the accounting transactions
2. Reversing JE - Created by reversing the existing journal entry
3. Recurring JE - Defined once and then generated for subsequent  
    accounting period
4. Mass Allocation - Created to allocate the revenues and assets to a
    group of resources(cost centers, depts, divisions,etc) from a single
    Journal.
 

sathishkumar

  • Oct 10th, 2007
 

There 3 types of journal available in Gl

1.Suspense journals

2.Tax Journals:a)Input tax  b)output Tax



3.Recurring journals

a)skeleton    b)Standard  c)Formula

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kinj84

  • Jan 27th, 2008
 

There are total of five types of journal entries

1) manual journal - Are the journals entered int he system when noother subsystem exists to create the journals. Basically a manual way of going into the general ledger responsibility and creating a journal via data entry.

2) recurring journal - are the journals that occur periodically.

For ex)
- a journal entry that has to be created for rent expense every month
- a journal entry that has to be created for fixed interest expense paid to the bank every month on the bank loan 
        
3) allocation journal - are the journals that allocate or distribute cost pools to various accounts based on usage rations. For example) mass allocation journals for a company's rent expense would allocate rent expense across company's departments based on the square foot usage by that department.

4) budget journal - are journals created in budgets portion of journal ledger. these entries basically insert or update budget data.

5) imported journal - these are the journals that have been imported into the oracle general ledger from oracle receivables or oracle payables etc.

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