TRAVERSE Global v11.1

Post Transactions

When you post transactions, the system creates open invoices for each invoice or shipped order and miscellaneous credit entry that you recorded as a transaction. Next, the system updates both the due date for each transaction using the invoice date and the number of due days for the terms code and the discount date from the invoice date and the number of discount days from the same terms code. Finally, the system creates a payment record for each cash receipt. Posting ignores transaction entries that have a status of Backordered, New, Picked, or Price Quote.

As you post information, line-item information is posted first, then totals are updated. When all line items are posted, cash receipts information is posted, and finally detail and summary GL entries are created and posted. Payments are posted in the Accounts Receivable Post Cash Receipts function.

If you interface Sales Order with General Ledger and you post detailed information to General Ledger, entries are created in the GL Journal for each line item. If you post only summary information to General Ledger, the transaction figures are summarized into one entry for each account. If the accounting period is closed, you can either edit the transactions or use the System Manager Period Conversion function to open the accounting period and then post the transactions.

Posting also updates customer, sales representative, and tax location records. The balance and the sales payment history fields in the customer's records are updated. The period-to-date, quarter-to-date, and year-to-date gross sales figures for sales representatives are updated. The taxable and nontaxable totals from the transactions update the totals of the tax locations in System Manager.

TRAVERSE automatically creates entries for any realized gains or losses due to fluctuating currency exchange rates for payments in the accounts you specified in the System Manager Gains and Losses Accounts function when you post to record those gains and losses for correct accounting.

Commission detail is updated if you elected to keep sales commission detail in the Business Rules function.

If orders contain any backordered line-item, the backordered quantity becomes the order quantity and the transaction order status changes to Backordered.

ClosedSales

When invoices for sales on credit are posted, entries are made to these accounts:

Account Entry
Sales Credit
Sales Tax Credit
Freight Credit
Misc Credit
AR Debit

The sales account is assigned in the Transactions function. The General Ledger account in the tax location record determines the sales tax account. The Accounts Receivable Distribution Codes function determines the other accounts.

The cost for each line item updates these accounts:

Account Entry
Inventory Credit
COGS Debit
ClosedMiscellaneous Credits

The miscellaneous credits for each line-item update these accounts:

Account Entry
Sales Debit
Sales Tax Debit
Freight Debit
Misc Debit
AR Credit

The sales account is assigned in the Transactions function. The account in the tax location record determines the sales tax account. The Accounts Receivable Distribution Codes function determines the other accounts

The cost of each line item updates these accounts:

Account Entry
Inventory Debit
COGS Credit
ClosedPosting Transactions
  1. Complete transaction entry.
  2. Print invoices.
  3. Print the transaction journals.
  4. Select the Do the following then check the box check box.
  5. Select the batches to post.
    Note: This option only appears if you elected to use batch processing in the Business Rules function. You can use the All button to select all batches to post.
  6. Select whether to leave unposted orders and backorders in their current batch or move them to a new batch from the Unposted Orders and Backorders section.
    Note: If you select Move to New Batch, you must select a new batch code from the New Batch Code field.
  7. Enter comments for the post, if applicable, in the Comments field.
  8. Click a command button to  
    9. Click To
    OK Begin posting the transactions.
    Activity Display the Activity Log to view posting activity.
    Reset Set all fields to their default values.