Adjusting a Member Account or General Ledger Using Journal Voucher
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The Member Journal Voucher tab lets you modify a member's share balance, loan principal balance, loan interest paid amount, or a general ledger balance by journal voucher. This transaction does not:
- Update the loans next payment due date, partial payment accumulator, interest-paid-to date, or uncollected interest amount.
- Process late charges or escrow deposits.
- Automatically release shares pledged to the loan.
Do not use this transaction to perform the following actions:
- Transfer an interest overpayment to the loan principal.
- Pay off a loan.
- Transfer an interest overpayment to a share account.
- Correct a dividend.
- Specify the portion of a loan payment to be applied to principal, interest, or late charge.
- Transfer funds from a member's share account to the same member's loan account.
- Make non-member general ledger entries.
To access the Member Journal Voucher tab, under Financial Activity on the Portico Explorer Bar, click Financial Transactions. Click the Adjustments tab. Locate the member using the search tool on the top menu bar. Select the down arrow to select the search method, then enter the search criteria. Select the green arrow or press ENTER to locate the member. On the Adjustments tab, click the down arrow and select Member Journal Voucher.
How do I? and Field Help
The Effective Date field will default to today's date. You can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions.
Enter the credit union-defined message that should be printed on the member's statement regarding this transaction in the Statement Message field (Length: 26 alphanumeric / Keyword: SM). The message JOURNAL VOUCHER appears on the member's statement if you do not type a message in this field.
The Member Journal Voucher Transaction Area lets you modify a member's share balance, loan principal balance, loan interest paid amount, or a general ledger balance by journal voucher.
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To debit a member's share account or loan, enter the member number of the member in the Debit Information Member field. Click the member lookup button to open the Member Search window and locate a member.
To debit a general ledger account, enter the account number in the Debit Information GL Account field. Then, enter the adjustment amount in the Amount field. |
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The branch location of the general ledger account. |
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The amount that will be debited from the share account, loan, or general ledger. Length: 10 numeric including decimal |
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To credit a member's share account or loan, enter the account number of the member in the Credit Information Member field. Click the member lookup button to open the Member Search window and locate a member.
To credit a general ledger account, enter the account number in the Credit Information GL Account field. Then, enter the adjustment amount in the Amount field. |
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The branch location of the general ledger account. |
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The amount that will be credited to the share account, loan, or general ledger. Length: 10 numeric including decimal |
When the total amount of the From Side product codes equals the total amount of the To Side product codes, click Submit to complete the transaction.
The member account listing appears on the Overview tab, Transactions tab, and Adjustments tab.
These entries vary based on the information entered.
- DEBIT 901XXX Share general ledger account specified on the Share Profiles - Account Information tab
- DEBIT 701XXX Loan principal general ledger account specified on the Loan Profiles - Account Information tab
- DEBIT 111XXX Loan interest income general ledger account specified on the Loan Profiles - Account Information tab
- DEBIT XXXXXX General ledger account specified on the Member Journal Voucher tab
- CREDIT 901XXX Share general ledger account specified on the Share Profiles - Account Information tab
- CREDIT 701XXX Loan principal general ledger account specified on the Loan Profiles - Account Information tab
- CREDIT 111XXX Loan interest income general ledger account specified on the Loan Profiles - Account Information tab
- CREDIT XXXXXX General ledger account specified the Member Journal Voucher tab
Financial Transaction Register Report 420
The teller balancing effects are as follows:
- Adds the debit total to the Transfers/JV amount field on the Balancing and Close tab
- Adds one to the Transfers/JV count field on the Balancing and Close tab
The Member Journal Voucher tab does not update the teller cash or checking account amounts on the Teller Balance Request Report regardless of the general ledger account number entered.
For a same-day correction, use the Reversals - Same Day Reversals tab or the Adjustments - Loan Advance from General Ledger tab to reverse the transaction, or access the Member Journal Voucher tab and enter the debit amount as a credit and the credit amount as a debit. For a prior-day correction, use the Adjustments - Loan Advance from General Ledger tab, or access the Member Journal Voucher tab and enter the debit amount as a credit and the credit amount as a debit.
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