Hello Everyone! Today I will be sharing another feature that will help you out in posting transactions automatically to your General Ledger. The Auto Post Transactions to Ledger option in the Accounting module lets you automatically post all transactions to the current period and directly to the General Ledger.

With this feature, you will be able to monitor how the accounts affect the entire application for the nominal accounts. Let’s get this to work…

Setting Up Auto Post Transactions to Ledger Option

The Auto Post Transactions to Ledger option can be accessed through the New Company Wizard or in the Accounting Module. Upon creating or editing a New Company, go to the Accounting module > Preferences, or, if navigating through the Accounting module, click on Setup > Preferences.

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When Option Is Disabled

By default, this option is unchecked. Basically what it does is that you can do batch posting of nominal accounts into the current period. You can create batch posting by navigating through the Accounting module > Tools > Batch Post.

Note that the journals created when posting transactions will fall under the Unposted Journal tab. You can view the unposted journals by navigating through the Accounting module > Journal > Find Journal > Unposted Journals tab.

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When Option Is Enabled

If this option is enabled, the system automatically detects any unposted existing journals and will prompt you to do batch posting. All the unposted journals are displayed on the batch post wizard regardless of the fiscal period.

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When the batch posting displays, click on the next button to post all the transactions.

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You can also view the close periods by navigating through the Accounting module > Period > Close Period.

Now, here’s the tricky part when this option is enabled.

• When a transaction is created within the current period and generates a journal, it will automatically be posted in the current fiscal period.
• Select the area to be cropped click the Crop Image button.
• For transactions that are created in advance or for future dates (e.g. March 24, 2013), it will automatically be posted in the corresponding fiscal period (e.g. March 2013)
  

Hence, no need to do batch posting of repetitive transactions since they are already posted. You can close the monthly period and move on to the next fiscal period.

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The table below shows the affected transactions when this option is enabled or disabled in the Accounting preference:

That’s it! I hope this blog post helped you out with your Accounting needs.