Borrowing Payroll Journals

Have you ever noticed there is an additional Borrow Journal tab available when selecting a journal to load for posting payroll? If you have never clicked on this tab, go ahead and check it out.
This handy Borrow Journal feature can greatly simplify posting your timecards while dramatically decreasing the amount of time it takes to post them.

The Borrow Journal feature allows you to load entries from a previous journal into a new journal where they can be modified or removed to accommodate the new journal as appropriate. This feature is particularly useful if you need to post entries that are similar from payroll period to payroll period or periodically at some other interval. It can even be used as a base for a certain group of employees whose entries can be modified after loading.

It is very easy to use Borrow Journals. After clicking on the Borrow Journal tab, you simply set the effective date of your new journal, select the journal you wish to borrow from and finally, select the new payroll period in which you will be posting. Pro Fund Accounting will open your new journal loaded with timecards from the journal you borrowed from. The Effective Date of the new timecard entries will be set to the date you specified. Once you have your journal loaded, you can edit any entries that need to be changed, modifying them to work with your current journal. If there are any entries you don’t want, simply delete them using the “Del Ind” button.

It may be helpful to consider how you may wish to borrow journals in the future while posting your current timecards. For example, you may want to split your new journals up from time to time to establish custom journals from which you wish to borrow.

If Borrowing Journals sounds like it might work for you, go ahead and check it out and see how it can help save you time and effort when posting your timecards. As always, if you have any questions or comments please contact the Cogitate support staff.