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Create Accounting and Transfer Journal Entries To General Ledger GL
Create Accounting and Transfer Journal Entries To General Ledger GL
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The Job Title [list@YourCompany.com?Subject=EDUxxxxx] is responsible for ensuring that this
document is necessary and that it reflects actual practice.
Draft Accounting
When you select draft accounting, Subledger Accounting creates the relevant journal entries in
draft mode. Draft entries are not posted to General Ledger. You can review the resulting
entries, update the transactions, or update the accounting rules. Any changes will be reflected
when the transaction is processed again for accounting.
Online Accounting
Final entries are ready to be transferred to General Ledger and cannot be modified. The
transactions are considered as processed for accounting. Any changes to the rules will not
impact final entries.
Straight-Through Accounting
If you select Final Post, Subledger Accounting posts the journal entries all the way through to
General Ledger. This means that you can update GL balances straight from the invoice entry
(or any other transaction entry) window.
Note: This program is used if you run accounting online in Final mode (not Final
Post) or if you run the Create Accounting program and set the Transfer to GL
parameter to No.
The only reason you would want to run the Create Accounting program and set
the Transfer to GL parameter to No is if you want to run accounting at different
intervals than the GL transfer, for example, you may run accounting every hour
but only transfer to GL nightly.
You would usually initiate the Transfer to GL process via the Create Accounting
program.
Refer to Practice - Enter an Invoice with Two Lines that are Distributed to Different
Departments for Payables [LAB030AY]
Refer to Practice – Create an Invoice for Receivables [LAB1301Y]
Refer to Guided Demonstration - Run the Create Accounting Program and Transfer Journal
Entries to GL Program in Payables [LAB3F0EY]
Refer to Guided Demonstration - Run the Create Accounting Program and Transfer Journal
Entries to GL Program in Receivables [LAB426FY]