This process will post each Journal Entry to the General Ledger. Remember to first print out a “Journal Entries Batch Proof Report” (8.1.2) before posting. You must also post those Journal Entries created from other modules to update the General Ledger.

For added protection, a locking scheme is incorporated to posting Journal Entries. Only one port can post Journal Entries at a time. A message will be displayed stating the Port Number that is currently using this program.

You may post Journal Entries by a specific Batch Number or all Batches. If posting ALL Batches you will be prompted for a Cutoff Date Created.

Whenever you create an Internal Transfer the transaction creates a Debit and a Credit. Since the transactions occur between two locations the Debit is on one location and the Credit is on the other. This will cause the Financial Statements to be out of balance by location. You have to allocate the account to a Location Allocation Account number. This will create the Debit and Credit for the locations so that they are in balance. If you do not create the transaction the Batch will not be posted because it is out of balance.

The Location Allocation Account Number depends on the number of the locations. For example:  If Location 1 through Location 10 have an imbalance, the accounts created would be 2301-10 and 2310-1 on the Journal Entry. If the location is greater than 99, then the account number will go one more digit. If Location 1 to Location 999 have an imbalance, the accounts created would be 2301-999 and 23999-1 on the Journal Entry.

You may automatically balance transactions by location when posting the Journal Entry. This set up is in the "General Ledger Setup" in SYSTEM MANAGEMENT (10.2.3). The program will still display the message that it is doing the Automatic Location Allocation but it will not require entering a "Y" anymore.

The Journal Entries validates the Source Items by checking for errors. Items checked are:  Accounting Period, Batch Number, and Journal Entry Number, where applicable. Every source is validated except for Receiving because the Journal Number changes if an adjustment to Receiving is made. If there is an error, the Batch that contains the Journal Entry will not be posted. Please call Perfection Software Support Department if a source is not validated.