A Linked Journal is a single entry that updates both the Profit & Loss and the Balance Sheet. Use it when an adjustment necessarily affects income/expense and an asset/liability/equity balance.
Note: Journals in GATHER.nexus work the same way as they do in a standard company’s accounting system- balanced double-entry, debit/credit rules, and posting logic remain familiar. Similarly, Linked Journals (in which one side of the double entry is in the P&L and the other in the Balance Sheet) automatically impact Balance Sheet Reserves too, to ensure Balance Sheet integrity.
Create a Linked Journal
Open
Go to Working Papers → P&L or Balance Sheet tab.
Select Add Journal.
Why: Linked journals post to both statements regardless of which tab you start from.
Header
Narration: Clear purpose (e.g., “Accrued Bonuses Mar-2025”).
Why: Improves search, audit clarity.
Date: Effective date for the reporting period.
How: Matches the consolidation period you’re adjusting.
Ref No (optional): Internal tracking code.
Tag: Elimination / Reclassification / Accounting Adjustment / Other.
Why: Enables downstream filtering and reporting.
Group Class (optional): Assign if you report by segments.
Reporting Cadence (optional): Mark Monthly/Quarterly/Semiannual/Annual if you report against cadence.
Lines
Line 1 (P&L): Choose a revenue/expense GRT account; enter amount in Debit or Credit per normal rules.
Line 2 (Balance Sheet): Choose an asset/liability/equity GRT account; enter the balancing amount on the opposite side.
How: Add more lines if the adjustment spans multiple accounts.
Notes (optional)
Add brief rationale or source (max ~500 chars).
Why: Supports review and audit without opening attachments.
Review & Save
Totals: Debits = Credits; Difference = 0.
Accounts: Profit & Loss + Balance Sheet choices align to the scenario.
Descriptions: Clear and consistent.
Click Add to post (or Cancel to discard).
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