Repost
Re-Post
In practice you will encounter examples where it is better to close outstanding items, which are otherwise closed by using manual closing of outstanding items, by post transfer.
Use of the standard way of how to close outstanding items only where the linked document is posted to the accounts. Otherwise the post remains unchanged and adequate for linking of invoices and payments. That is those that are not already linked in the bank statement.
A problem occurs iin closing when linking customers' credit notes (debit posting with negative amounts) and customer invoices (debit posting with positive amounts), regarding the use of currency of the payment from the credit memo as the currency for the partial payment of the invoice. In such a case it shall be considered that by using the manual closing of outstanding items the invoice issued was paid on due date of the credit note. And that is not necessarily true.
By using post transfer you may thus select with which due date shall the item be closed.
Items to be closed are selected in the same way as the ones in simple closing (see Close | Manually). Here in case that the amounts are not equivalent the transfer of post is made at the absolutely lowest selected amount. The only difference being that here you may select also the data used in journal entry creation:
| Posting Type |
As with the other automatic posting panels, you may select posting to the existing journal entry (Append), or by entering general data necessary for journal entry creation (Create):
- Document Type: you may enter the ID of the document type used for journal entry creation
- Date: you may enter the period date of the journal entry (by default the current date)
- Posting Date: you may enter the posting date of the journal entry (by default the current date)
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| Fill Due Date of Journal Entry |
- Journal Entry Period - After the post has been transferred, the document will be closed with the currency that shall be the same as on the target date of the journal entry header. This option is recommended, for example, for credit notes to customers where the credit note was submitted late because of the customer and you would like the deviation between the due date of the invoice received and the due date of the credit note received to be evident, for example to calculate the interest on arrears. (For example see Post Transfer - Due Date According to Period Date.)
- Document Due Date - the invoice issued will be closed with the due date of the invoice and the credit note with the due date of the credit note. In the Due Date field the due date of the document to be closed is used. In all other date fields the target date from the journal entry header is used. This option is useful if you do not want to calculate interest for closed documents. (For example see Post Transfer - Documents Due.)
When browsing posts and when calculating interest, the document due date that can be found in the journal entry line reveals when the post has been closed.
- Using the first option, the document will be closed when a post of the closing of prepayments is created. It is useful when you want to close a document before the due date of the receivable or payable.
- Using the second option, the document of the receivables or payables accounts (1200, 2200) will be closed on the date the receivable or payable is due. It is useful when you want to close a receivable or payable by its due date.
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By clicking the Close button the items selected for linking shall be posted to the journal entry selected in the posting parameters. After the process has been successfully completed, you shall be notified (see Posting successfully completed! Journal entry XXX).
By successful posting a journal entry is displayed.
Prior to the posting the validation of entries to individual journal entry item is made in accordance to the required validation of the chart of accounts (see Chart of Accounts Errors).
See related examples:
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We can disable the display of entries with target date older than General Ledger Opened date. We can do this settings in Administration Panel.
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