| # Journal book - overview This functionality is specific for Italy. Italian law requires that companies submit a journal book of all statutory financial transactions in date sequence. The journal book is used for internal and external audits, during lawsuits, and so on. Both a detailed report and a summary report are required. The report pages and the transaction lines must be numbered sequentially. You can define the sections into which the journal book is divided. Typically, the journal book is divided into sections that correspond to the types of transaction, such as sales invoices, purchase invoices, and bank transactions. To assign a transaction to a section, link the section code to the transaction type. A wide range of manual and automatic transactions must be included in the journal book , including, manual journals, purchase invoices, self billed purchase invoices, automatic payments, automatic direct debits, posting sales invoices, write off currency differences, write off payment differences, recurring transactions, import journals, asset depreciation, and some integration transactions and intercompany or intergroup transactions. You must ensure that no financial transactions are logged with a transaction date in a period for which the journal book section has already been finally printed. In other words, backdating transactions to periods for which the journal book has already been finally printed, is not permitted. Non-statutory transactions must not be reported to the authorities. However, if you use the journal book, every transaction type must have a journal section code. Therefore, you must define dummy journal book sections for the non-statutory transactions. The dummy sections are neither printed on legal paper nor included in the journal book summary. Journal book sections have a start date and an expiry date. To ensure that the final summary includes the various sections, the start date of a new section must be later than the transaction entry date of the last printed transaction in the journal book summary. The expiry date must be later than the last entered transaction entry date in the section. You can delete the expiry date of a section to reactivate the section, if required. Before you print the official journal book on legal paper, you can print a preliminary version for internal audit and to prepare the final report. The preliminary version must include non-finalized transactions to obtain an accurate representation of the final journal book based on all the transactions that currently exist. If all the transactions of a period, including the logged integration transactions, are posted and finalized, you can print the final version of the journal book for the period. The journal book of the transactions with transaction dates earlier than the selected date range must have been finally printed. Deleted transactions are excluded from the preliminary report and the final report. In addition to the sectional journal books, you can print a a summary journal book. This report summarizes the sectional journal books that you mark for inclusion in the summary journal book. Because the summary journal book must include all sections, you can can only print the summary journal book if all the included sections have been finally printed. A journal book can only contain transactions of one financial company and one fiscal year. If you print a journal book, you cannot specify the start date because the start date must immediately follow the last printed date. The start date of the first journal book of the year is equal to the start date of the fiscal year. If you use the journal book functionality, at the year end ERP Enterprise generates year end closing journal transactions for every transaction on the balance sheet accounts to clear the accounts when you run the Automatic Balancing of Profit and Loss Accounts (tfgld6202m000) session. The year end closing journal transactions are printed on the journal book. Related topics To set up the journal book To use the journal book To print the journal book |