In Sage X3, any transaction that impacts a company’s profit and loss needs to be recorded in their accounting system is called ‘Journal Entries’.
A journal entry is used to record a business transaction in the accounting records of a business. A journal entry is usually recorded in the general ledger; alternatively, it may be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.
In Sage X3, all documents such as Purchase Invoice, Sales Invoice, Shipment, etc. are coded to ‘automatic journals’, thus creating journal entries automatically when the documents are validated. Each document is coded to specific accounts in the ‘automatic journal’ setup, thereby posting the entries in the desired accounts during a transaction. However, these entries are posted in the ‘temporary’ mode which allows the user to modify the entry in terms of accounts, business partner, amount and description fields, before it is changed to ‘final’ during final validation.
When the status is Temporary, journals can be deleted or modified, but journals generated in other modules are subject to consistency checks. Once the status is Final, some accounting elements included in a journal can no longer be modified.
Depending on the setup of the transaction and journal type used, the following elements can be specified in journal entry:
- Purely analytical journals
- General and analytical journals
- IAS documents, etc.
STEPS :-
Navigate to: Financials -> Journals -> Journal Entry
- Open the Journal Entry screen from Financials > Journals > Journal Entry
- Click the New button to open a blank entry
- Select a Site (defined as a financial site)
- Select an Entry Type from the list according to the nature of the transaction. Each type is loaded with its required settings.
- The Number field will be automatically generated by X3 when the document is created.
- Select the accounting Date of posting this entry.
Here, we can see that we are facing the below issue while creating journal entry. Refer the below figure:
Follow the steps given below to solve this error:-
Navigate To: All -> Setup -> Financial -> Journal Entry Transaction
As we are creating journal entry for STDCO transaction, Select the same transaction in entry transaction screen.
Here, we can see that the value in the field Validity End date is set to ’04/12/20′, that means the validity of this transaction is valid only till 2020, but we are creating the transaction for 2021 so we are facing the error. Refer the below figure.
We need to change the ‘Validity end date‘, till which date we want for the particular entry transaction of the Journal Entry.
So here we are changing the value to 12/31/21. Save and validate the same entry transaction.
Hence, our journal entry has been created successfully. Refer the below screen shot
This blog helps to solve the error “Outside of validity date limit ” while creating journal entry.