|Transaction Post (25.13.7)|
Transaction Post (25.13.7) posts balanced GL transactions from the unposted transaction file to the GL history file. The history file is used to print financial statements, so GL transactions are not included on statements until they have been posted.
You can post transactions by effective date range and/or transaction type. To print a posting report prior to posting the transactions, set Post Transactions to No. To post all types of transactions, leave Type blank. The transaction type enables you to divide posting responsibility by department (e.g., the AP manager verifies and posts AP). The audit trail is generated only at posting; you cannot reprint it afterward. The audit trail lists all transactions that posted. Unbalanced transactions that did not post are flagged Unposted.
In some countries, audit trails must be continuously numbered. (If your last audit trail for entity 1000 ends on page 30, your next one for entity 1000 must begin on page 31.) A setting in General Ledger Control (25.24), Continuous Page Numbers for Post Audit, determines whether your database uses continuous audit trail page numbering. Entity Code Maintenance (220.127.116.11) displays the last page number used in transactions).
Posting should be done only through the prior day's transactions, to prevent posting an incomplete batch. Once posted in general ledger, transactions cannot be changed. Any changes to account balances must be made through adjusting entries, which will be discussed later in this lesson.
During posting, any transactions that reference allocation codes are exploded to the appropriate accounts, as we noted in the last lesson. For example, if you posted $100 to allocation code Utilities, and it was split out with 30% to the utilities account in department 100 and 70% to department 200, two account postings would be made.
Prior to posting, it is helpful to print the posting report with Post Transactions set to No so that you can preview how the allocation codes explode amounts to individual accounts.
|Voucher Maintenance (28.1), Allocation Code Maintenance (25.3.23), Transaction Post (25.13.7)|