Ledger Posting

Overview#

Transactions in BOS Enterprise post to the ledger themselves, so you do not enter them again in the Ledger. This guide explains:

• Which transactions post, and when.
• What each posting carries: the accounts, amounts, VAT, dates and currency.
• How payments, close-off dates and the Rebuild work with posting.
• The warnings that show a posting problem.

What Posts to the Ledger#

A transaction posts when both of these are true:

• Its Transaction Type has the Accounting checkbox checked (see Transaction Type Properties).
• Its header status has the Accounting checkbox checked (see Statuses).

Other Ledger Entries#

These modules create their own ledger transactions:

• Supplier Payments: Posting a payment creates the payment transaction, any discount transaction and, for foreign currency, the accrual and exchange gain or loss transactions, and allocates them to the invoices (see Supplier Payments).
• Customer Payments: The receipt is set to Complete and allocated to the invoices (see Customer Payments).
• Bank Import: Each bank line creates or updates a transaction dated on the bank date (see Bank Import).
• Cashup: A difference creates a Cashup Surplus or Cashup Shortfall transaction (see Cashup).

When Posting Happens#

• A line is posted when it is saved, and posted again every time it changes. The earlier posting of the line is replaced, not reversed.
• All the lines are posted again when the transaction's status, entity, date or period date changes.
• When the transaction moves to a status without Accounting, its postings are removed. They come back when it moves to an Accounting status again.
• A deleted line's posting is removed.

What the Posting Carries#

Accounts#

• The debit and credit accounts come from the Transaction Type when the line is added.
• When the Transaction Type uses the customer or supplier account (Receivables or Payables), the line posts to the customer or supplier on the transaction. Changing the customer or supplier updates the lines.
• For stock items, the item's own accounts replace the Transaction Type's, when GL accounts are linked to the item (see Inventory Integrations and Valuations).
• Payment lines take the account of the payment item (for example, the bank account).

Amounts and VAT#

• Whether an account gets the amount excluding or including VAT depends on its Account Category's Report setting: Exc. VAT or Inc. VAT.
• The VAT is posted to the VAT Control account, when the Transaction Type has VAT control set (Input or Output, plus or minus) or when the line's own account is the VAT Control account.
• Amounts are posted in the home currency, to two decimals. There is no separate rounding entry.

Other Details#

Each posting also carries:

• The transaction date and period date.
• The customer or supplier, for Receivables and Payables.
• The entity, rep and department.
• The item and its category, for reporting.
• The transaction's currency and the foreign-currency amount.

Dates and Close-Off Dates#

• The period date (the date the posting counts in) is the transaction date. It follows the transaction date when that changes.
• If the transaction date is on or before the Transaction Type's close-off date, the period date becomes the day after the close-off date (see Managing Close-Off Dates Tutorial).
• On the transaction screen, a date on or before the close-off date shows the message "Transactions may not be dated on or prior to the Close Off Date." and the date is corrected.
• A transaction with a period date on or before the close-off date is read-only.
• Without the user setting that allows post-dated transactions, a future date is reset to today.

Foreign Currency#

• Foreign-currency lines are converted to the home currency with the transaction's exchange rate (see Multi-currency).
• The ledger amounts are in the home currency; the foreign amount is kept with each posting.
• VAT is always posted in the home currency.
• Changing the currency or exchange rate recalculates and posts the lines again.

Payments and Allocations#

• A payment posts like any other transaction, through its own lines.
• Allocating a payment to an invoice links them and updates their allocated and unallocated amounts; it does not post anything itself.
• Allocations are removed when the payment or invoice is deleted, or moves to a status without Accounting.
• In foreign currency, the allocated amount is converted with the payment's exchange rate and limited to the invoice's unallocated amount.

Ledger Warnings#

A transaction in the Ledger shows a red warning bar when a problem is found (see Ledger Edit Views). Each warning starts with "Warning:", and several are separated by semicolons:

• Entity is blank: Entities are used, but the transaction has none.
• Transaction is not in an accounting Status: The status does not have the Accounting checkbox checked, so the transaction does not post.
• Customer is blank or Supplier is blank: A line posts to Receivables or Payables, but no customer or supplier is selected.
• The Bank Entity does not match the Transaction Entity: The bank account belongs to another entity.
• Trial Balance error: The debits and credits of the transaction do not balance.
• The Customer, Supplier or Bank currency does not match the Transaction currency.