One of the most common causes for transaction problems in GP revolves around dates, especially posting dates. Users simply post transactions into the wrong period. Keeping periods closed when not in use is helpful, however, there is always a time around month end where two periods are open. Date management in GP is just complicated enough that keeping dates straight requires a mix of setup, process, and training.
In GP, most subledger transactions can be posted at the transaction level or as a batch of transactions. A few transaction types, mostly banking related, can only post per transaction.
If batch posting is available, use batch posting. In many cases transaction posting ignores posting settings and doesn’t post through the GL, meaning it has to be posted twice, once in the subledger and once in the GL. Obviously, this is less than ideal. Additionally, posting via batch typically uses a single batch for the date making it easier to validate.
Most subledger transactions have two dates, a transaction date, and a posting date. In AP, for example, the transaction date (technically document date in AP) on a voucher is the date of the vendor’s invoice. This is used to age the invoice properly, regardless of when it arrived. For transaction posting, the posting date defaults to the document data and that’s typically not the appropriate date. The actual posting date is hidden behind an expansion button (blue arrow) where users often don’t see this setting to change the posting date. With subledger batch posting, the posting date is assigned at the batch level and applied to all transactions in that batch.
It is important to note that for GL transactions, the transaction date is always the posting date. There is no date on journal entry batches.
The keys to managing dates in GP are:
- Post by batch where ever possible.
- Disable transaction posting for items using batch posting to prevent rogue transactions.
- Train people to double check posting dates for transaction posted items.
- Review transaction or batch dates prior to posting.
Links to all the posts in this series can be found at https://dynamicaccounting.net/gp-controller-series-index/