What happens when I post a journal entry?

Posting is the process of updating Multi-Book Ledger account balances with new transactions. You must post journal entries at least once in an accounting period to update account balances. You post by running the Ledger Journal Posting (ML190) program. Running the posting program:

  • Posts released journal entries that match the parameters you define on Ledger Journal Posting (ML190)

  • Creates balancing entries for interzone journal entries

    Note: Auto-balancing entries are only created if an entry is out of balance in base currency. This might be caused by rounding or a change in the exchange rate.
  • Creates auto-balancing entries for journal entries that were created in the company base currency and posts them to the auto-balancing system account (if the company uses the auto-balancing option) or the error suspense account (if the company does not use auto-balancing)

  • Creates error suspense records in the error suspense system account for transactions that contain errors

  • Updates account balances

  • Updates auto reverse balances

  • Updates the account balance for the undistributed retained earning account directly; no journal entry is created for this

    Journal statuses

  • Changes the journal entry header to a Posted status

  • Changes journal entry transaction lines to Historical status

    Ledger Journal Posting (ML190) does not post journal entries that have a journal hold code assigned.