Hi,
Can anyone give me a few scenarios when do we use AUTO POST and AUTO REVERSAL for journals.Please give me examples of somthing apart from what is there in the GL USER GUIDE i.e. BUDGETS.
Posting journals Automatically and reversing them
-
karthikeyanp1981
- Posts: 463
- Joined: Thu Nov 09, 2006 4:50 pm
- Location: India
- Contact:
Auto Post
1)As we know posting is a concurrent process, it takes time ! So in a real time scenario, a end user cannot wait till each and every journal gets posted. so he will continue with entering all the required journals and an auto post can be set for those journal categories to run at the day end (like a schedule program)
2) When you try to post an entry for a period which is yet to be opened, oracle will schedule that entry for posting, and will be posted automatically as soon as the respective period it opened !
Auto Reverse
In a normal accounting procedure, if the company is following accrual basis of accouting, entries must be made as and when the obligation to pay arises. that are Month end accrual entries for Salary payments, Rent Payments... since the company is liable to salary to the employees on the last day of the month, for which one journal entry needs to be passed.. during the next month beginning, the company will make actual payment of such salaries to employees, at that time, the original entry will be reversed which can be automated by giving a specified date of reversal !
1)As we know posting is a concurrent process, it takes time ! So in a real time scenario, a end user cannot wait till each and every journal gets posted. so he will continue with entering all the required journals and an auto post can be set for those journal categories to run at the day end (like a schedule program)
2) When you try to post an entry for a period which is yet to be opened, oracle will schedule that entry for posting, and will be posted automatically as soon as the respective period it opened !
Auto Reverse
In a normal accounting procedure, if the company is following accrual basis of accouting, entries must be made as and when the obligation to pay arises. that are Month end accrual entries for Salary payments, Rent Payments... since the company is liable to salary to the employees on the last day of the month, for which one journal entry needs to be passed.. during the next month beginning, the company will make actual payment of such salaries to employees, at that time, the original entry will be reversed which can be automated by giving a specified date of reversal !
Who is online
Users browsing this forum: No registered users and 18 guests