The Journal Entry Workpaper provides key details about journal entries to ensure accuracy, completeness, and transparency during audits. Below is a detailed explanation of each column included in the workpaper:
Entity Name
The name of the company, division, or entity for which the journal entry was recorded. This helps identify which business unit or legal entity the entry belongs to.
Journal Entry #
A unique identifier for each journal entry, assigned by the accounting system or automatically generated by Audit Sight during data processing.
- Note: If the unique identifier is missing, Audit Sight will create an ID based on the date, description, and other key data from the underlying report.
Audit Sight JE Entry Slicer
An algorithm developed by Audit Sight that splits batch journal entries into smaller, more manageable entries to improve transparency and ease of analysis.
- For more details: Refer to our FAQ guide on how Audit Sight handles batch entries.
Journal Entry Created On
The date the journal entry was initially created in the accounting system.
- Note: This is not the same as the accounting or posting date.
Journal Entry Posted On
The date the journal entry was posted to the general ledger and became effective in the accounting system.
Journal Entry Posted on Month
The calendar month in which the journal entry was posted to the general ledger (e.g., January, February).
Journal Entry Posted on Year
The calendar year in which the journal entry was posted to the general ledger (e.g., 2023, 2024).
Journal Entry Record Ref Data Type
The type of reference data associated with the journal entry, such as "Invoice," "Bill," or "Payment."
Journal Entry Record Ref ID
A unique identifier linked to the reference data, such as the invoice or bill number tied to the journal entry.
Related Invoice #
The invoice number associated with the journal entry, if applicable. This helps trace the journal entry back to the relevant invoice.
Related Invoice ID
A unique identifier for the related invoice, typically assigned by the accounting system.
Account Type
The classification of the account impacted by the journal entry, such as "Asset," "Liability," "Revenue," or "Expense."
Account Name
The specific name of the account impacted by the journal entry, as recorded in the general ledger.
- Additional Info: If the nominal code (e.g., a 4-digit account code) is included in the report, it is appended to the account name.
Net Amount
The monetary amount of the journal line.
- Representation: Debits are shown as positive amounts, while credits are shown as negative amounts.
Currency Type
The currency in which the journal entry was recorded, such as USD, EUR, or GBP.
- Default: Unless specified otherwise, all amounts are recorded in USD.
Fully Qualified Category
The complete categorization or hierarchy of the account, which may include details like department or subcategory.
- Example: "Operating Expenses > Marketing > Digital Ads."
Audit Sight Reversing JE?
A flag indicating whether the journal entry is an original or a reversing entry.
- Possible Values: "Original" or "Reversing."
Corresponding Reversing JE ID
The unique identifier of the original journal entry that is reversed by this entry, if applicable. This creates a clear audit trail for reversing entries.
Entry Description
A high-level description summarizing the purpose or context of the journal entry, as recorded in the system.
Line Description
A more detailed description of the specific transaction line within the journal entry, often providing additional context or notes.
Combo ID
A unique identifier assigned to journal entries that share the same account combinations (e.g., same debit and credit accounts).
- Purpose: Used to group and analyze similar entries for deeper insights.
This definition guide is designed to help auditors and users of Audit Sight better understand the components of the Journal Entry Workpaper and how to interpret the data. If you have any questions or need further clarification, feel free to contact our support team at support@auditsight.com.
