13.6. The Monthly General Journal

13.6.1. What Is The Monthly General Journal?

The Monthly General Journal report is used at the end of each month to derive the Journal entries required by your Accounts Package to ascertain your monthly Profit/Loss.

By entering these details into your Accounts Package you shoud be able to, identify how your service traded in the past month, identify what amounts were spent in particular areas, compare with previous Profit/Loss Reports and identify movement in some account classifications e.g. Food/Drink expenses were higher in March, than in April. You may wish to investigate the reasons for any variations in the above areas so that more accurate budget forecasting and costing can be achieved.

The Profit/Loss Report from your Accounts Package will list the Income/Expenditure transactions for the month by consolidating the journal postings from the Monthly General Journal report and the regular payments you make to creditors each month.

Accounts Receivable

Please remember that this Journal posting should balance, i.e. total credits should equal total debits. If this is not the case your Accounts Package should reject the journal entries that you have made.

CCB Advance

Please remember that this Income posting should balance i.e. total credits should equal total debits. If this is not the case your Accounts Package should reject the journal entries that you have made.

JET Fee Assistance

Please remember that this Income posting should balance i.e. total credits should equal total debits. If this is not the case your Accounts Package should reject the journal entries that you have made.

Balance Sheet Balances

13.6.2. Reconciling the Monthly General Journal to your Accounts Package

At the end of the month, if you are using an accounts package, you will need to reconcile Spike to your Accounts Package.

Ensure that you have entered all income into your Accounts Package under the Asset heading of Accounts Receivable/Debtors or something similar, from your manual receipting system or bank statement, it is imperative that you have itemised totals for monies that relate to fees, sundry, donations etc., these names will vary from package to package, ie. Fees income must be allocated to Accounts Receivable in the Asset area of your Accounts Package, all other income will go to the various headings in the Income area of your Accounts Package.

This can be a long tedious job, but if it is done every month, you will soon be able to identify difficult areas and fix them quickly.

Before you can reconcile with your Accounts Package, you need to print two reports from Spike. First is the Monthly General Journal and the second is the Transaction Category Summary. This summary will identify any sundry charges raised, eg. Late Fees, Excursions etc. Be careful when choosing the dates in the selection criteria, the dates need to relate to the Fees raised in the same month, eg. Fees raised in April, might be: w/e 4/4, 11/4, 18/4, 25/4. Therefore the dates for this report would be from:4/4/XX to:25/4/XX

Steps to: Print the Monthly General Journal Postings Report


  2. Select the end-of-month date you wish to print the report for, eg. April reconciliation needs the date 30/4/XX.

  3. Select the Radio Button, Output to Printer.

  4. Make sure the printer is turned on and Select OK.

Steps to: Print Transaction Category Summary


  2. Select the date range for the billing month you are reconciling.

  3. Select the transaction type, eg. Miscellaneous Charge.

  4. Keep the Radio Button selected on 'All Categories'.

  5. Select Output to Printer.

  6. Select OK.

Once these reports have been printed, open your Accounts Package, you now need to enter the details from the Spike Monthly General Journal through General Journal Entry.

From the Spike Monthly General Journal Posting, allocate the amounts as follows:

NOTE: You MUST ensure that the amounts entered are allocated to the Debit or Credit as per the Monthly General Journal Report.

Once you have done this, you can look at the Closing Balance of your Accounts Receivable/Debtors ledger in the Asset area and compare the totals to the Monthly General Journal Posting in the Balance Sheets Balances area of the Monthly General Journal Postings report you printed from Spike. The amount in $ on the Spike report for Accounts receivable MUST be the same as the closing balance amount in your Accounts Package , but it may not be.

If the amounts are not the same, try the following:

  1. The main reason for not balancing is due to CCB% changes that have been altered since your last reconciliation.

    Re-print your Monthly General Journal Posting reports from Spike for previous months and check those amounts against the General Journal entry that relate to them. You will more often than not, find that the amounts in the Accounts Receivable and CCB Advance areas have changed. This would occur because you have received a new CCB letter and have had to vary someone's account. This will affect your Accounts Receivable balance. Alter the amount to match the new reports that you have just printed, and check to confirm if your latest report matches the Accounts Receivable balance in your Accounts Package.

  2. If you still don't balance, it is possible that you have missed a receipt to a parent account. Compare your manual receipting system and with a printout from the Spike Receipts Summary for the same period. Make any required changes.

NOTE: If you have refunded money to a parent via cash or cheque, this amount must be allocated to Parent Fee Income in the Income Area of your Accounts Package, NOT Accounts Receivable.

If you are still having difficulty balancing, contact your Accounting Package Support Service.