I am upgrading from SBF to GP. What is your opinion on setting up accounts such as cash, a/r, a/p as summary posting rather than detail posting?
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Jim,
I will go for Detail Posting as it will give me Detail Information about each Line item for a group of Transaction. Where Summary to Post a summarized total for group of Transaction.
Summary Posting will be good for Payroll where you don't want each Line item detail for Employees salary transaction.
Thanks
Sandip
I agree with Sandip, I usually recommend posting in detail. The only time I would consider posting in summary is when there is a very high volume of transactions. Here is a quick example on this quoted from my book:
"Consider a company that has 500 sales invoices a day. If each of these creates a GL entry, in a 260 workday year, that will result in 130,000 GL entries, just from the sales invoices. Many sales invoices will have numerous GL distributions, so with an average of 8 GL distributions per invoice, that will become 1,040,000 lines in the GL per year from sales invoices alone. Typically this much detail is not needed, as no one will be looking through it at this detail level. In this scenario, if those 500 invoices are split into five batches per day, then only five GL entries are created each day, resulting in 1,300 GL entries per year for sales invoices."
Since the settings can be different for each type of transaction, take a look at the transaction volumes for each transaction type and remember that if you are posting in summary you will lose drill-back functionality from a GL entry to an individual transaction, which can be an invaluable tool during account analysis, reconciling and auditing.
Posting in detail provides the ability, among other things, to drill back through the original postings to the original transactions, maintaining an end to end link through the history.
Hi Jim
Take a look at my article on posting levels, which gives the details of how the posting levels in GP work.
cvakumar.com/.../posting-levels-in-dynamics-gp-a-review
Let us know if you need further assistance.
My biggest issue with detail posting is the volume of paper when printing year-end detailed trial balances. I am convinced by your responses that this is a small price to pay.
Thanks for the update. Let us know if you need further assistance.
Hi Jim,
Most companies I work with never even print the detail trial balance to paper anymore. They use SmartList to dump the detail into Excel for either their own account analysis or to provide to their auditors.
Do you need it on paper for a specific reason? If you need it in a report format, another alternative may be to print it to a PDF.
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