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What updates the General Ledger

Quick G/L Posting Reference | Daily Inv Register | Accounts Payable | General Ledger | Posting Examples | Types of Accounts

Quick G/L Posting Reference

Everything that posts directly to your G/L is marked in GREEN

IBS POST

  • Post Daily Inventory to G/L MP 1, 5 (Invoice Register)
    This posts your inventory changes directly to G/L
    Precheck your Pre-invoice margin report prior to posting.

    Sales, Inventory & Receivables pulls from the following G/L Account Number locations

    • Category Sales IU, 9
    • Inventory Sales MU, 2 (Page 2)
    • Account Receivables Adjustments MU, 2 (Page 3)
    • Accounts Receivables MU, 2 (Page 2, line 3)
  • Post Monthly Sales to G/L MP 2, 9 (Post Sales to G/L)
     This posts your monthly sales totals to your G/L
    Precheck your monthly invoice register AND the pre-posting transaction reports prior to posting.
    • Please note that NO sales figures that have not been passed through an invoice register will be posted!

A/P

  • Check Reversal AU 5, 21
  • Post Purchases/ Prepaids AU 3, 1, 4
  • Voucher Reversal AU 5, 20
  • Manual Check Entry AU 5, 22

G/L Journal Vouchers

  • Post Journal Transactions GU 3, 4
  • Post Standard G/L Journal Entries GU 3, 6
  • Post Recurring G/L Journal Entries GU 3, 8
  • Post Statistical Transactions GU 3, 10, 4

Chart of Accounts GU 5, 1

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    • Where Do the G/L Numbers Come From?

    • Daily Invoice Register
      • Pre-invoice margins do not post any information to G/L
        Sales that have not been run through your invoice register do not post to your G/L
      • MP 1, 5 (Daily Invoice Register) - ONLY System sales run through your Daily Invoice Register post to G/L
      • Setup your G/L Accounts in MU #2 (Page 2)
      • Setup your Receivables Adjustment accounts in MU #2 (Page 3)
      • IU #9 (Inventory Category Setup) Category Setup assigns sku items within category to report to a specific category

        Cost reports to G/L Cost of Goods sold account
        Inventory reports to G/L Inventory account
        Taxable Sales Report to G/L Sales-Taxable account
        Non-Taxable Sales Report to G/L Sales-Non Taxable account

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    • Accounts Payable Changes
      • Purchase Entries
      • Check Disbursements
      • Voucher Reversal
      • AU 3, 1, 4 (Post Purchases/ Prepaids)

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    Posting Examples

    SOURCE JOURNAL # SOURCE

    CHECK #
    IBS INVOICE REGISTER

    		 GJ10-000

    		 IBS POST

    		 NAME OF PERSON
    SETTING BACKUP
    A/P (ACCOUNTS PAYABLE)
    • PURCHASES
    		 PJ000000
    (Purchase Journal)

    		 A/P
    A/P (ACCOUNTS PAYABLE)
    • CASH DISBURSEMENTS
    		 CD000000

    		 A/P
    A/P (ACCOUNTS PAYABLE)
    • CHECK REVERSAL
    		 A/P 000000

    		 BLANK FIELD
    A/P (ACCOUNTS PAYABLE)

    VOUCHER REVERSAL

    		 PJ000000

    		 VREV nnnn

    		 BLANK FIELD
    G/L (GENERAL LEDGER)

    CHECKBOOK
    G/L (GENERAL LEDGER)

    CHECKBOOK

    G/L (GENERAL LEDGER)

    JOURNAL ENTRY (JE)

    		 JE
    G/L (GENERAL LEDGER)

    MANUAL

    		 GJ00-000

    		 MANUAL
    G/L (GENERAL LEDGER)

    PAYROLL

    		 GJ00-000

    		 01YYMMDD00
    G/L (GENERAL LEDGER)
    NO SOURCE INDICATOR

    CP -

    TJ -

    IBS G/L POST Examp

    Types of Accounts

    • EX = Expense Account
    • IC = Income (This information comes from your sales by category IU #8)
    • LI = a liability that will be deducted later from the company

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    Last modified: November 7, 2011

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