About Transaction Processing in General Ledger

A General Ledger batch is a group of journal entries, each of which contains at least two transaction details: one for the debit amount and one for the credit amount.

Journal entries do not affect G/L account balances until you post the batches.

Posting Batches

When General Ledger posts a batch, all entries that cannot be posted are added to a new batch. Print the posting journal for a list of all posted transactions and all errors that the program encountered.

The posting process consolidates details for accounts using the Post To Account In Consolidated option (selected on the Detail tab of the G/L Chart of Accounts screen).

Posting changes the status of posted batches to Posted on the Batch Status report.

Batch Errors

If you use the Force Listing Of Batches option, all batches to be posted must be error-free, and you must have printed listings for them before trying to post them.

If you do not use the option and you post a batch that contains errors, the correct entries will be posted, and entries containing errors will be placed in a new batch, which uses the next available batch number.

Note: General Ledger cannot detect some errors until you post the batch, and these errors are not reported on the batch listing.

Posting Sequences and Entry Numbers

A unique posting sequence number is assigned to each posting run. The number is printed on the posting journal and appears on the G/L Batch List screen, allowing you to specify which journals to print, as well as to track data.

A unique posting entry number (consisting of the posting sequence number and the entry number), indicating the order of posting, is assigned to each entry that is posted.

Previous-Year Posting

When amounts are posted to revenue and expense accounts for a previous year, this screen also creates the closing entries for those accounts, and adjusts the retained earnings account for the year. Closing transactions are listed on the posting journal.

Provisional Posting

Provisional posting copies Actual fiscal set amounts to a Provisional fiscal set, and updates the Provisional fiscal set so you can see the combined effect.

Batches are not deleted when you post them provisionally, and you can make changes to them, if necessary, before permanently posting them. On the Batch Status report, they are marked as provisionally posted, and the date and the posting sequence number are included.

You can include provisional transactions on the Batch Status and Trial Balance reports.

Provisional Posting is not available in an ICT company.

Reversing Entries

Before you can post reversing entries that span two fiscal years, you must first create a new year using the Create New Year screen. If you do not create a new year first, posting creates an error batch for the reversing entries, which you can post later.

Note: Provisional posting does not post reversing entries across a fiscal year boundary—only within a fiscal year.

Intercompany Transactions (ICT) Batches

Important! You can enter intercompany transactions only in the company for which you activated Intercompany Transactions. If you are working with a company for which Intercompany Transactions has not been activated, the ICT fields do not appear on G/L forms and reports.

If you use Sage 300 ERP Intercompany Transactions:

• Additional fields appear on the G/L Journal Entry screen, letting you identify the originating company for the batch and a destination company and route number for each transaction.
• You use the ICT A/P Post Batches screen to post intercompany batches.

Note: If Intercompany Transactions is activated for the open company, you can post only intercompany batches and transactions.

When you post an intercompany batch, Sage 300 ERP creates batches for the originating company and for the destination company in their respective General Ledgers. It also creates a posting journal in Intercompany Transactions that shows what happened.

If you selected Post G/L Batches for the originator and the destination companies in ICT Options, Sage 300 ERP will also post these batches for you in the remote General Ledgers.

The program generates descriptions for the batch, entry, and line for the originating and destination companies, as shown in the following examples:

• Batch description. The generated G/L batch description will be:

  From ICT Company companyID (GI post seq >nnn batch x.

  where companyID is the ID code of the originator, nnn is the sequence number, and x is the batch number.

• Entry description. The generated entry description will be the same as that in the ICT G/I entry.
• Line description. The generated line description will be the same as that in the ICT G/I line.
• Line comment. The generated line comment will be the same as that in the ICT G/I line.

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