In order for Payables activity such as Vouchers and Payments, etc... to show within the General Ledger financials, it is necessary to perform the Posting process.
Pre-Requisites
- General Ledger
Step-by-Step Guide
Payables > Utilities > Post to G/L
Specify a Method
Different types of Method
Accrual - The accrual method records revenue when a product or service is delivered to a customer with the expectation that money will be paid in the future. In other words, money is accounted for before it's received.
Cash - Cash method of accounting is a method of accounting used by many individuals and some small businesses to record their liabilities and income. When using the cash method, transactions are recorded only when the payments have been made or received.
Specify an Accounting Period.
Click Retrieve.
Click Select All.
Click Post to G/L.
Click Close.