Brokerage Engine Support

Overview of System-Generated Journal Entries


Overview:

In this article, we will review Journal Entries created by Brokerage Engine. Please find the available resources below. 

Brokerage Engine Accounting employs a sophisticated system of Journal Entries to meticulously record various sections of a transaction. Each transaction is assigned a unique Main Journal Number that references the property address, ensuring a comprehensive and organized record-keeping process. The system offers a diverse array of Journal Entry types, including but not limited to: "Reversal Journal Entry," which captures information related to reversed Main Journal Entries; "Kept Escrow Journal Entry," which records escrow deposit transfers from the escrow trust bank account to the operating bank account; and "Deposit Journal Entry," which accounts for commission deposits. The system also allows the creation of manual and recurring Journal Entries, such as, "Adjustment Journal Entry," for correcting errors or adjusting balances; "Transfer Journal," for moving assets between accounts; and "Expense Journal," for documenting expenses incurred. 

The table below will break down the many variations on reference numbers for System created Journal Entries:

Reference Number

Description

JE

This Journal Entry is the Main Journal Entry associated with the transaction.

D



This Journal Entry is a Deposit. If matching transactions in the Banking section, the Journal Entry to match the associated deposit is the one that ends with the letter "D".

ED

This Journal Entry is an Escrow Deposit.

DR

This Journal Entry is an Escrow Deposit that was Revoked. 

KE

This Journal Entry indicates that the Escrow Desposit was Kept by the Company and transferred from the Escrow Account to the Operating Account. 

RJE

This Journal Entry is a Reversal of the Main Journal Entry. 


Additional entries recorded with automatic reference numbers:

Reference Number

Description

BP

This reference number indicates a Bill Payment.

EWT

This reference number indicates an Escrow Wire Transfer Payment.
























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