Adjusting Journal Entry - Line Types
The Type column in the Adjusting Journal Entry line items section designates the type of account being adjusted.
See the article for Adjusting Journal Entries if you're looking for a more general understanding of how adjusting entries work.
Select a Line Type
- Click on the + symbol to enter a new line item.
- In the Type column, enter the Line Type or enter the @ symbol then press the <tab> key to select one from the list.
- In the GL Name column, you'll begin data entry per the table below.
| Type of Adjustment | Line Type | Order of data entry |
|---|---|---|
| Accrued Inventory Payable (aka Inventory Holding) | AIP | Vendor Name ➤ select Open Accrued Inventory Payable item |
| Accounts Receivable | CLI | Client Name ➤ select Open Accounts Receivable item (or enter Invoice # to reopen a close A/R item) |
| Deferred Revenue | DEF | Part Number ➤ select Warehouse (if there are more than one) |
| General Ledger | GL | GL Account Name (this is the default line type, no special instructions) |
| Inventory Value | INV | Part Number ➤ select Warehouse (if there are more than one) ➤ select Lot |
| Accounts Payable | VEND | Vendor Name ➤ select Open Accounts Payable item (or enter Vendor Invoice # to reopen a closed A/P item) |