GL Transaction Entry overview
Function acronym: GLET
Use this function to manually post entries to your General Ledger accounts. You can correct suspense postings, make incidental adjustments, and update General Ledger with transactions that are independent of transactions that are generated in the interfaced modules.
Conduct a search to locate an existing group to maintain. Select Existing Group to maintain an existing group. An existing batch can be a batch that was set up in GL Batch Setup, or a batch that was created as a one-time group in GL Transaction Entry, but has not been updated. Select New Group to assign a group based on your operator initials. If you select Existing Group, specify the name of the batch to maintain.
Transactions are entered in GL Transaction Entry as a group of transactions that are processed in a single update. Batch groups can be set up in GL Batch Setup or on demand in GL Transaction Entry. The method to set up batches depends on the type of batch. Set up recurring batches or auto-reversing batches in GL Batch Setup. Set up one-time batches in GL Setup Batch or in GL Transaction Entry.
To update a batch, select or in GL Transaction Entry, or run GL Entry Batch Update Report. The final update function is only available if Yes is selected for the Allow GL Entry Transaction Final Update option in SA Operator Setup.
All transactions posted to the account codes must balance before you can update the session. Multiple sessions can be opened at one time, throughout the day. Keep track of them and close them at the end of the day.
Security
Operator access to General Ledger accounts is restricted to the division number, department number, and sub-account number set up in SA Operator Setup. Obtain authorization from a supervisor who can grant to you access to post to a restricted account.
Customer and Vendor information
After you enter a General Ledger transaction, you can click Show More in the Customer and Vendor sections to add off-line customer and vendor information for the transaction. Use this information to track accounts receivable or payable information when you do not post to General Ledger from the Vendors or Customers modules.
Check Reconciliation
If the Interface to Check Reconciliation from General Ledger option is selected in SA Administrator Options-Financials, you can click Show More in the Check Reconciliation section to update your Check Reconciliation records. We recommend that you use this method to post transactions that affect General Ledger account codes and Check Reconciliation records, such as bank transfers and interest earnings. If you post these transactions in CR Check Center Entry, the General Ledger account codes are not updated.
Prerequisites
If you interface to Check Reconciliation, or post from the Vendors and Customers modules, you must set up these records before you can use GL Transaction Entry:
- CR Bank Setup
- Customer Setup
- Vendor Setup
Implementing GL partway through year
If you implement General Ledger in the middle of a fiscal year, use GL Transaction Entry to enter the correct amounts for all previous periods up to the present period. For each period, post the correct amount to every account code. You must open a journal for each period. Continue this method up to the current period. Specify the net amount of all transactions for the period, not the balance of the account code.
For example, suppose your sales balance through March is $10,000, including $1,500 in sales entered in March. Specify the $1,500 in March and post the remaining $8,500 between January and February. Specify a reference for these transactions, such as March 2019 Postings. Post only through the end of the last closed period. After you have made all the postings for a particular period, run the GL Transaction Activity Report or GL Account Master List Report to verify the balances.
After the initial entries, you can use General Ledger to begin active and current postings. If you started to use General Ledger at the beginning of a new fiscal year, you do not have to make the entries mentioned above.
GL Transactions grid
The transactions are displayed in the transaction grid when you press Enter from the line, or click . To edit any of the transactions, select it and click . You can also place a transaction on hold, or release it from hold. The hold status is noted in the Status column. Transactions on hold are not updated when you perform the final update or process the batch through GL Batch Update.