Hi I wonder what’s the meaning by draft on journal entry before we submit it, what’s the point to have a draft and not straight to submit?
What if you don’t want to submit right away, but save it and submit later? That’s what is Draft and Submit.
Also Submit updates the ledgers for the transaction.
Thanks for the answer @schilgod , I thought there’s something more than just save for later submit.
also, when submitted the transactions will be recorded on the ledger. so in draft state you can make modifications as much as you like and when you are sure, you can submit.
Problem I face is that one can not see the effect before submitting and after submitting it is not easy to amend mistakes.
May be an option for draft financial report would help, where draft entries effect can be seen in Trial Balance, GL, P&L, Balance sheet.
May be Draft is like you write with pencil, if we make only submit in JE its like we all writing only with Pen which is very hard to make correction.
And if you want add GL Projection in draft status its make more confusing to read financial statement…