Post General Ledger Transactions in Batch Daily with QAD Enterprise Applications

Posted on: January 28, 2010 | By: SuperUser Account | QAD Financials

Within QAD’s Enterprise Applications, General Ledger transactions are created as un-posted transactions. Un-posted transactions are not visible in the general ledger trial balance and therefore would not be included in the financial statements. The operation modules in QAD generate un-posted transactions when financial events occur. These transactions will have the following data dimensions:
· General Ledger Reference (the name of the entry that makes it unique)
· Create Date
· Effective (General Ledger) Date
· Debit account sting
· Debit amount
· Credit Account String
· Credit Amount
The General Ledger Transaction Post program will take these un-posted transactions and post them to the general ledger. The Post program is batch enabled. Therefore, it can be assigned to a batch name and that batch name can be assigned to a scheduling program. You will need a database administrator to enable the batch within a schedule in the operating system software.
The benefits of posting the entries daily are the following:
· The ability to provide periodic account analysis for system populated general ledger accounts within the accounting month. Accounting Standards require that balance sheet accounts be reconciled to their supporting detail at least monthly to assure these accounts are fairly stated and properly supported by accurate detail entries. This internal control process can be completed for system accounts payable, system accounts receivable, system inventory and system un-vouched receipt accounts. Executing this process within the accounting period can help expedite the general ledger accounting close process at month end.
· Correcting unbalanced transactions. Periodically, QAD will generate unbalanced transactions. This occurs for a variety of reasons. By monitoring un-posted transactions daily, these failed transactions can be investigated, corrected and finally posted to the general ledger.
· Correcting Invalid effective dates on transactions. Users have access to editing effective (general ledger) dates within their sub-module transactions. Periodically, transactions are created outside the accounting period will fail during the posting process. These transactions should be updated to insure they are posting to the correct accounting period.
· Correcting invalid account strings. Periodically, relationships between general ledger accounts, sub accounts, cost centers and projects are modified to achieve a desired general ledger accounting result. If existing orders are not reviewed and updated for the new general ledger account assumption, transactions can fail.

For more information regarding setup of this functionality, you can contact:
Andrew Vitullo, CPA
Principal, Logan Consulting

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