Where it usually breaks
And how to keep it from happening.
- Equal totals hide a line coded to the wrong account.
- The entry date falls outside the selected period.
- A later correction loses the original journal reference or supporting explanation.
- Accounting with GST/Tax
- Process
- Review journals
Review journals
Check account coding, line totals and the accounting period before posting review.
Step by step
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Prepare the entry Staff Accountant
Staff Accountant creates a Draft journal with an entry date, organization, source and tax period. Write a description that explains the business event. Attach the supporting evidence so Controller can inspect the basis for the entry.
- Prepare the dated Draft entry
- Updates Journal entries, Record attachments, Organizations
-
Check the lines Staff Accountant
Staff Accountant reviews the debit and credit amounts and selected ledger accounts. Compare the header totals with the linked lines and examine any out-of-balance indication. A balanced entry still needs the correct account treatment and source explanation.
- Review balance and coding
- Updates Journal lines, Journal entries, Ledger accounts
-
Review the period Staff Accountant
Staff Accountant checks that the intended date and tax period agree. Controller resolves an entry aimed at a Closed or Locked period through the customer's agreed correction procedure. Keep the original reason and the permitted accounting date visible.
- Resolve the accounting interval
- Updates Tax periods, Journal entries
-
Complete posting review Staff Accountant
Controller reviews the account treatment and balance before the entry moves from Draft to Posted under the agreed posting procedure. Staff Accountant retains the support and checks the final status. Rehearse this procedure during setup with the ordinary role accounts.
- Review the move to Posted
- Updates Journal entries, Journal lines
-
Explain a correction Staff Accountant
Staff Accountant brings a later correction to Controller with the original entry reference and reason. Use the agreed reversal procedure when Reversed applies and retain the original evidence. The reviewer should be able to understand both entries without reconstructing the story from memory.
- Retain reversal context and support
- Updates Journal entries, Record attachments
Who does what
Roles and permissions- Staff Accountant
- , Controller, External Auditor, Admin.
Set up Accounting with GST/Tax your way.
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