Use the GL Writeback feature to create allocations, accruals and any type of GL entry right from Excel. It is great for a large range of use cases, including:
- Month-end allocations of revenue and expenses
- Accrual transactions
- Release restricted funds
- Fringe calculations
- Inter-entity and multi-currency transactions
- Calculations or GL entries based on data that is not available in your ERP
How to use GL Writeback
From any spreadsheet, first, start by creating a blank GL entry worksheet. Click on GL Writeback -> New Journal Transactions Worksheet
You will then see a spreadsheet that looks (a lot) like the familiar Journal Transactions screen:
Fill in the blanks and enter the data you want to be included in your journal entry. Cells that you leave blank/empty will be defaulted by the system as they would when entering the transaction manually from your web browser.
Then, click on GL Writeback -> Import Current Worksheet
Validations rules are applied and Excel will prevent you from posting an entry that is out of balance or using an invalid GL account.
Watch the video to see how simple it is to import to your ERP
In the video above, we are allocating expenses related to a shared call center based on the revenue of each of our branches. The calculations used in this example leverage many of the functions that Velixo adds to Excel such as ACCOUNTTURNOVER(), ACCOUNTTOTALDEBITS() and ACCOUNTTOTALCREDITS(). You can also use standard Excel functions and reference other cells in your workbook.
The description of our journal entry is dynamic and based on the current month and year — formulas can be used anywhere!
Your journal entry spreadsheets can be used as template and imported more than once (weekly, monthly, etc.). A single Excel workbook/file can also contain multiple journal entry templates.