Share
Reportthere is option to create a journal entry per transaction or batch on the posting setup window, what is the best option to choos?
thanks
*This post is locked for comments
You’re offline. This is a read only version of the page.
920
there is option to create a journal entry per transaction or batch on the posting setup window, what is the best option to choos?
thanks
*This post is locked for comments
A little further thinking on this - posting to GL in summary rather than detail for Control accounts would render the Reconcile to GL Utility practically useless.
The JRNENTRY would be the same for all of the lines on the journal so should be easy enough to extract in future.
Hi
Richard - your note prompted me to put an opinion on consolidating the AP control. I just recently set up GP for a new client transitioning from a different accounting system. In their old system they posted to the GL in exactly that manner - detail for the expense but summarised for their control account. They wanted to bring transaction data over for a period of time - this proved to be a huge issue.
You couldn't get a balanced "journal" that related to a single transaction - I ended up doing all sorts of pivot tables to try and "create" a transaction with an offset to a clearing account.
So not saying it is wrong, but just a word of warning - if they ever decide to change system and want to move transactional details, it could be more difficult.
In overall answer to the query - I am 100% for detail posting for all but payroll.
Cheers
Heather
Just to drop thought on this is that I have seen folks post in summary to their accounts payable account. This way if they process thousands of transactions per month, they see only the detail for the expense accounts and only a summary figure for accounts payable.
I totally agree, I do believe that the best practice in order for your module to be tied to the general ledger is to post a journal entry per transaction.
I have never seen a client considering a journal entry per batch for the financials or any of the supply chain modules.
Your feedback is highly appreciated,
Yes I agree with Frank JE per transaction will be a good practice and it will have clear visibility over your transactions where batch journals difficult to track. It will be also helpful on any kind of reconciliation.
It depends on the transaction type. Most clients choose a JE per transaction so you can see the detail in the general ledger, except for payroll entries, where you don't want salary details in the GL.
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,269
Super User 2024 Season 2
#2
Martin Dráb
230,198
Most Valuable Professional
#3
nmaenpaa
101,156
All responses (
Answers (