Post Transactions

Use the Post Transactions function to create open invoices for the transactions you entered in the Transactions function. If the quantities you received and invoiced for a line item are equal to or greater than the quantity you ordered, the status of the line item changes to 'Completed'. When all the line items in an order are completed, the transaction is removed from the list after you successfully post it.

Completed line-item detail information about the transactions is saved until the entire transaction is completed. Posting transactions also updates the amount due, amount prepaid, and purchase history in the vendor records. If you interface Purchase Order with Project Costing, the status of the project is changed from 'Unposted' to 'In Process' or 'Billed/Charged', depending on the project type.

If you interface Purchase Order with General Ledger, debit and credit entries are created in the GL Journal. If you post detail information, entries are made for each line item. If you post summary information, one entry is made 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.

See the Posting to a Closed Period topic for additional information about posting to a closed fiscal period/year.

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 to record those gains and losses for correct accounting. Because individual transactions may have been recorded with different exchange rates, information is always posted in detail when you use multicurrency.

Note: The calculation of gain/loss amounts for prepayment will be performed in the payment posting process.

If you have the Use Accruals During Posting business rule set to 'Yes', you will get the following entries made to GL for the items you have received.

Account Entry
AP Accrual Credit
Inventory Accrual Debit
Expense Accrual Debit
Project Accrual Debit

The AP Accrual account is the account set in the AP Distribution Code on the PO. The Inventory Accrual account is the account set in the IN Account Code for the items on the PO. The Project Accrual account is the account set in the PC Distribution Code for the assigned project. The Expense Accrual account is the account set in the Business Rules for the Expense Accrual Account.

When you post purchases, entries are made to these accounts:

Account Entry
AP Credit
Sales Tax Debit
Freight Debit
Misc Debit
Expense Debit
Inventory Debit

You assign the inventory or expense accounts when you enter purchase transactions. You assign other GL accounts using the AP Distribution Codes function. You set up sales tax accounts using the System Manager Tax Locations function.

If you have the Use Accruals During Posting business rule set to 'Yes', you will get the following entries made to GL for the items you have invoiced, to reverse the accruals for the received items.

Account Entry
AP Accrual Debit
Inventory Accrual Credit
Expense Accrual Credit
Project Accrual Credit

The AP Accrual account is the account set in the AP Distribution Code on the PO. The Inventory Accrual account is the account set in the IN Account Code for the items on the PO. The Project Accrual account is the account set in the PC Distribution Code for the assigned project. The Expense Accrual account is the account set in the Business Rules for the Expense Accrual Account.

When you post miscellaneous debits, entries are made to these accounts:

Account Entry
AP Debit
Sales Tax Credit
Freight Credit
Misc Credit
Expense Credit
Inventory Credit

You assign the inventory or expense accounts when you enter miscellaneous debit transactions. You assign other GL accounts using the Accounts Payable Distribution Codes function. You set up sales tax accounts using the System Manager Tax Locations function.

Invoice amount = $100

Item Cost = $100

Landed Cost = $10

Account Entry Amount
AP Credit 100
Inventory Debit 110
Landed Cost Expense Credit 10

The Landed Cost expense gets offset by the invoice from the freight company, using this account as the expense account in the freight invoice. Landed cost in PO is an estimate. Actual freight invoices may be different. You will need to reconcile your Landed Cost Expense Account for amounts that are different between the estimated cost calculated in the transaction and the actual amount from your freight invoice.

When you deal with project costing in-house vendors, entries are made to these accounts:

Account Entry
AP Debit
Overhead Credit

You assign the accounts payable accounts when you enter purchase transactions. You assign other GL accounts using the Project Costing Distribution Codes function.

When you deal with regular project costing, entries are made to these accounts:

Account Entry
WIP Debit
AP Credit

You assign the accounts payable accounts when you enter purchase transactions. You assign other GL accounts using the Project Costing Distribution Codes function.

Posting Transactions

  1. Complete transaction entry.
  2. Print the Transaction Journals.
  3. Select the Do the following then check the box check box.
  4. Select the Post All Invoices as Held, if applicable, to post all invoices as held. If you choose to hold all invoices, use the Accounts Payable Hold/Release Invoices function to release each invoice for payment individually. If you choose not to hold all invoices, use the Accounts Payable Hold/Release Invoices function to hold individual invoices.
  5. Select the batches to post. 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 or you can use the None button to deselect all batches from posting.
  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. If you enter a batch code that is not on file, the system creates it during the post. For example, you can create a batch code named 'Backorder' and move backorders into it.
  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.