Tracking Statistical Data in Accounting Software like Intacct is similar to the way General Ledger Journal Entries are entered, but the way they track data is different. The main difference with statistical journals is that they record a change in the number, either an increase or a decrease. Also, statistical journal entries do not need to balance as General Ledgers do. One example of a Statistical Journal entry is tracking the change in the employee count. Once a month you can enter a current headcount into Intacct so you can later report on it.
In last week’s blog post we went over how to set up the Statistical Journals and how to enter the starting balance. Statistical journal entries themselves are added much in the same way that the starting balance was created, through General Ledger > Statistical Journal Entry > Add.
In last week’s post we chose to use ‘For the period’ type of reporting for our TWSE statistical account so every time we make a journal entry we will simply report the change that occurred during the period. For example, if we hired an employee we would increase by 1 and if we lost an employee we will decrease by 1. In our example below we are adding 1 new server to our count.
You have the option of saving the draft statistical journal entry or posting it. If you chose to save the entry as a draft you or another user can modify it at a later date and post it when you’re satisfied with the data.
Statistical journal entries can also be set up as recurring or memorized. If you find you have entries that need to be done regularly, then this might be the perfect functionality for you. In the example used above of the wait staff counts you will likely be reporting on this fairly regularly so setting up a memorized transaction might be a good idea. We chose to use the memorized transaction over the reccuring transaction because we may want to change the value of this transaction before it posts. This can all be set up by going into General Ledger > Open Setup > Statistical Journals then clicking ‘Memorized Transactions’ for the journal you wish to set up the entry for.
Click the ‘Add’ button to add a new memorized transaction.
The only required field in the header record is the Description, so enter that. In the detail section below you will want to enter the default information for your memorized transaction. We will chose our statistical account from the dropdown on our line item as that is a required field. We are required to enter a value in the increase or decrease field to use as default but we can change that on posting. We will enter an increase of zero to assume there is no change to our counts by default. Click ‘save’. Our memorized transaction is now ready to use.
In order to post our memorized transaction with no changes (i.e. we haven’t had any employees hired or leave) simply enter the posting date, check the checkbox beside the line entry for it and click the ‘Post’ button.
If, on the other hand, you wish to modify this transaction before it posts, do the same as above but click ‘Draft’ rather than ‘Post’. When you click ‘Draft’ a draft will be created of this transaction. You can now go into the Statistical Entries list screen, locate your draft, modify it as required and post from there.