Journal Entries Journals enable you to make adjustments to accounts after the data is loaded or entered.

Example: -Sales Returns, Purchases Returns, Decimal points Diff. Pre Requisitions to post the journal. 01 Periods should be open. Open Application Click on Journal Tasks Click on Manage Periods Select the period Click on open

02. Allowadjs attribute in the entity Dimension Should be YES.

If you want to add group just click on Manage Groups.

Then Click on Process Journal. Select the POV. Scenario, Year, Period and Value Dimention

Click on New Select one option from below Regular Auto-reversing. Click on Ok

Select the Entity from the POV

Select Balance Type Balanced: All the Debits and Credits will be balanced Unbalanced: Debits and Credits will not be balanced Balanced by entity: Debits and Credits for particular entity will be balanced

Now the journal is in working journal. Select submit, Approve, Post.

The user should have proper role to do the same. The amount will be posted in the entity currency Adjs. To see the Posted journal prepare a grid by selecting entity currency Adjs.

As i said we can post two type of journal. 1. Regular (u can see in the above Screen Shorts) 2. Auto- reversing. Auto-reversing journal will reverse the amount once the next period is open. Debits become credits Credits become debits Ex: Pre Paid Rent Templates

We can create template for future use. There are two types of templates. 1. Standard. 2. Recurring We can use standard template in future periods same like normal Journal. Standard templates apply to all scenarios, years, and periods in an application. They are not dependent on a specific combination of scenario, period, and year. You can create recurring templates when you need to make identical adjustments frequently. For example, you can create a recurring template that contains all the journal information, and use the template to generate Approved journals automatically for a specific scenario, year, and period. They are not dependent on a specific scenario, year and period but dependent on VALUE Adjs

1) we could not restirct that journal is use for only adjutments. we can load the normal data through the journals also. so its the one of the source to load the data. Auto reversing Journala Examples : In normal accouting situations we can say Prepaid exp prepaid income 2) If we enable the allow adj from children, parent entity have permit to role up the adjustments of children entity. 3) Allocation rules allocate the data from one enity to list of entities. say for example you have an admin expenses.u can distribute this total admin exp to different cost centres. in this situation we will right the allocation rules. it anything wrong please correct me.

1) The auto reversing journal will reversal the amounts in the next month once we open the periods. At what situation we use this journal? Kindly give some example. Auto reversing Journals are used when you want to post a transaction to one period and another to the subsequent period undoing or "reversing" the first entry. In other words, the debits in the first journal will be credit amounts in the following period, and the credits become debits. The Auto reversing Journal is most frequently used to record accruals. I am just giving you the process in HFM for your reference.

2) If we tick Alloadjs in the entity dimension we can post the journal. Why Alloadjsfromchildred?

Allow Adjustment option allows journals only that particular entity (Applicable to parent as well as children), but AllowAdjfromchildren will allows journals from children entities (it is applicable to only parents), If I am not wrong this option will work with balance by entity option in journals.

3) At What Situation we use allocation Rule? Allocation be used in different situations according to the requirement, here I am giving you a small example.
Allocation is the assigning of a common cost to several cost objects. For example, a company might allocate or assign the cost of an expensive computer system to the three main areas of the company that use the system. A company with only one electric meter might allocate the electricity bill to several departments in the company. These examples are to understand what is allocation, but in real time you need to write rules on the basis of requirement. For perform this allocation you need to have "Run Allocations" provision in roles.

Allocation is a costing concept, it is some what difficult to explain with clarity.

If we can check Allow Adj then it supports to create Journal for Entity curr adj and Parent Curr Adj If we can check Allow Adj from children den it supports to create Parent Adj and Contribution Adj Can i know the exact situation where we are creating journals for Parent Adj and Contribution Adj If we can create any Node journals where it will effect?

There is no special case for posting the journals in parent adj and contribution adj, but it will be a part of consolidation process, In HFM they provided this facility to post journals for future needs. It will be treated at par with other journals but in some situations these two value dimension members are different from other journals especially dealing with nodes. Contribution adj most of the times will be for costing adjustments. And moreover a consultant will not bother about posting the journals to value dimension members, this will be taken care by the client side team those who have the role of journal administrator and they have separate set of instructions for posting the journals to different value dimension members
Please refer below

The system displays entities based on the Value dimension that you select for the journal. If the selected Value dimension is <Entity Currency Adjs> or <Parent Currency Adjs>, the system displays a list of entities that have the Allow Adjustments application attribute enabled. If the selected Value dimension is [Contribution Adjs] or [Parent Adjs], the system displays a list of entities that have the Allow Adjustments from

Children application attribute enabled

You can post a journal to a specific parent and child combination (node) by using one of these Value dimensions: Parent Adjs - Applied to the node before consolidation. Contribution Adjs - Applied to the contribution when determining the contribution total.

Can we create Journal entry using rules? Almost everything is possible with rules in HFM, but HFM has it's own limitations for every area. One can write rules for journals and post it to the one of the value dimension member which supports the adjustments, but in practical Journals will work on approval basis in real time, the approval part will make complicated to write the rules and some times it may not be possible. We have some templates and auto reversing journals in hfm these are enough to work on journals in combination with approvals, we can post, unpost, and reject the journals based on your security role, keeping this things again it will make the complication for writing the rules on Journal. What is the difference between Auto-Reversing Journals and Auto- Reversal Journal? Auto-Reversing Journal - means you can enter the adjustments that you want to reverse in the next period. Auto Reversal Journal - means once you create the auto-reversing journal for next period, when the period get's opens the system will post that journal based on approval, so the next period adjustment journal will be called as Auto reversal journal. Auto Reversal journal is the system generated journal based on the auto reversing journal. When you un-post the auto reversing journal automatically the system generated auto reversal journal will also be deleted. In simple..If the auto-reversing journal posting is successful, then auto reversal journal will be created. If it is not successful (if we UN-post) then auto reversal journal will not be created by the system.