Adding a Journal Entry in IBEX

Setting Up Cost Centers in IBEX

Adding General Ledger Codes in the Journal Entry

Deleting or Disabling General Ledger Codes in the Journal Entry

Adding a Journal Entry in IBEX

Setting Up Cost Centers In IBEX

Before you can create the first version of a Journal Entry (or "JE") in IBEX, you will need two key pieces of information: a list of the Organization's Cost Centers as well as the Organization's General Ledger codes or Chart of Accounts. These may be referenced from an existing Excel Journal Entry file found in their client file, or will need to be acquired from the customer.  

Cost Centers should be set up in IBEX when Payroll Department Codes and Names in IBEX differ from the Organization's list of Cost Centers. This can be found in Organization Details > Cost Centers tab. 

Once Cost Centers are set up, you can override IBEX Payroll Department settings (if needed) to ensure departmental earnings are channeled to the correct Cost Center when a Journal Entry is run. Click on Organization Details > Payroll Departments. Choose the Department > Edit. Under the Details tab click the "Override GL Cost Center" checkbox beside the Department Code to assign its GL Cost Center. Note: you can Override multiple IBEX Departments with the same GL Cost Center if needed.

Adding General Ledger Codes in the Journal Entry

You will add the Organization's  General Ledger Codes or Chart of Accounts under the General Ledger Codes tab in the Journal Entry. Click on the "Add New" button in the top right hand corner. 

Enter the Account Code and Name of the Account. If an account should be split up by Cost Center, you can choose "CostCenter Suffix" or "CostCenter Prefix" to do this.

"CostCenter Suffix" will ensure the Account number is followed by the Cost Center Code as seen in the example below. (This setup would be the equivalent to adding " -<> " in the Excel version of the Journal Entry.) If you would like the Cost Center Code to be listed first, followed by the Account Code, select "CostCenter Prefix". 

You can select "Balance Net to Payroll Invoice in JE Results" on the Bank or Payroll Clearing GL Code to ensure JE Results balance to IBEX Payroll Invoice total where applicable. 

Deleting or Disabling General Ledger Codes in the Journal Entry

A General Ledger Code can only be Deleted from the system if it has not yet been used in a Journal Entry configuration that has been Run and Posted. 

If the GL Code has been used in previous JE runs, you will receive an Error Alert.

If the GL Code is no longer used and needs to be disabled, you will first need to create a new Version of your Journal Entry that does not include the GL Code to be disabled. The system will not allow a GL Code to be disabled unless this is done first. Once this is done, under the General Ledger Codes tab, click the Edit link next to the GL Code and select "Disable" under the GL Code settings, then Save. 

Adding a Journal Entry in IBEX

To create a new Journal Entry in IBEX, click the "Add Version" button in the top right hand corner under the Versions tab in the Journal Entry window. If you are adding the first version of a Journal Entry, you will see "No Rows to Show" in the Versions table. 

If you are adding a new version of the Journal Entry and previous versions exist, you will see them listed in the Versions table. The new Journal Entry version will be set to Draft status until Published. Once a new Journal Entry version is Published however, the previous version will be set to Expired and can only be run for pay runs that exist within that Version's effective dates. With that in mind, a new Version can be added and Published with a future effective date if preferred. 

When adding the first Version of a Journal Entry, you will need to select the "Build From Scratch" under Version Type. Choose an Effective Start Date from the drop down list (Note: "01-Jan-1753" is a default date that will ensure the version can be run for any existing pay runs). A Comment can be added if needed, then click Confirm.

Note: For subsequent Journal Entry versions, you will be able to Select "Build from Scratch" or "Copy From Existing Version". A new effective date will need to be selected.

When the first Version is added, it will be set to Draft status and the end date will default to "31-Dec-9999". This will update when a subsequent Version with a new effective date is added. Click View Details to begin adding Configurations to your Journal Entry.

Click here for more info on how to Configure your Journal Entry.