The Journal Code refers to the source of the posting to General Ledger. In most cases it refers to the program from which you are posting transactions. Each transaction in the General Ledger batch is tagged with the origin of its data entry.
The Journal Code acts as a filtering tool in the General Ledger and makes finding transactions quicker. Often used for reconciling, it is beneficial when posting several subsidiary ledgers to the same account.
For example: You can have one Accounts Receivable account in the General Ledger, but both Student Billing and Accounts Receivable can post to that account. You can then filter activity by the source code to see which activity came from which subsidiary module.
For more information, refer to How to add a new journal code in The Financial Edge.
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