Release and Posting Information Overview
ManEx has revised and added new features to the Release and Posting to GL screen that will give the user much more detailed information on screen and flexibility. All transaction can be now released and posted from one screen. It also allows the users more control on how they wish to have the accounting records released/posted per transaction. Also, within the Release/Post Screen, where available user has the ability to drill back to the source in which the Transactions originated from. For Example: Within the Release/Post Sales screen the users will see a link back to the Sales Order and/or Invoice that the transaction originated from. If the user depresses this link the system will then bring them back to that module and record for further review.
Note: This screen is a single user screen, to prevent users from attempting to release/post the same record causing duplicated transactions to be posted to the GL.
There are three options for each of the 17 types of transactions to be released and posted.
1) The current method "Manual Release after Review & Manual Post after Review" This means that the transaction must first be released and then posted as two separate activities.
2) "Auto Release & Manual Post after Review" This means that when the transaction is saved or approved in the originating screen, the transaction is placed in the released tables and only has to go through the posting routine to be posted to the General Ledger.
3) "Immediate Auto Release & Post to G/L without Review" This means that when the transaction is saved or approved in the originating screen it is automatically posted to the General Ledger without having to go through any release or posting screen for review.
Postings To General Ledger are created automatically! For example, when a CUSTOMER INVOICE is printed, the system sets up the Underlying Journal Entry ready to post into the General Ledger.
Three Stage Posting Process:
As designed, the General Ledger presents a 3 stage reporting/posting process to the user.
The first stage updates the aging reports and happens automatically when a Sales Invoice is printed or a Vendor’s Invoice is reconciled or entered directly into the accounts payable system through the use of a Manual Invoice. In this way the current aging status of both A/R and A/P can be known immediately.
The second stage of the process occurs when the user activates the ‘RELEASE TO G/L’ selections. The process creates Underlying Journal Entries for the associated transactions. These Underlying Journals are in turn used in the actual General Ledger update procedure.
The third and final stage of the General Ledger posting procedure is the actual posting to the General Ledger from the Underlying Journals. The posting process updates the tables used to present Balance Sheet and Income Statement information to the user.
Posting means that the transaction is recorded in the GLTRANS table. This information is then used in the GL Reports.
The last process is CLOSING A PERIOD and moving the final closing balance information into the appropriate history files.
Real Time
All of the G/L interfaces are created in a Real Time mode and forward into the various release modules. For example, the instant that the Invoice is printed in the ManEx Administration module, the entry is created and forwards into the Release Sales to General Ledger.
The ManEx general ledger system is designed to give the user the widest range of possible entry options while maintaining compatibility with generally accepted accounting principals.
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