Working with General Ledger batches in Acumatica ERP
General Ledger Transactions, release and posting process
After the Basic setup of the General Ledger module, the users can create, release and post the GL batches. In this article I will show you the basics of working with the GL module.
In Acumatica ERP, GL transactions are organised into batches, which are posted to the General Ledger accounts. A batch is a group of journal entries that represent transactions to be posted to the GL module. Each batch must include 2 journal entries.
Create a transaction batch for owner investment of $50000 and release.
GL301000; Finance > General Ledger > Work Area > Enter
The batches can be posted in multiple steps. Above is the quickest way of processing journal transactions – the journal is posted immediately, and the account balances get updated instantly on release.
Reversing a batch
The posted batches cannot be deleted. In order to correct a mistake, the best way is to generate a reversing batch which will have the sae amounts posted in the opposite columns. This can be done in a few seconds by opening the journal entry and click on Actions – Reverse Batch.
The reversing batch is ready to be released. See the option “Reversing entry” is active and the “original batch number” field is populated.
Making an Auto-Reversing Batch
The auto-reversing entries are perfect for the accrual-type reversing journals and are time-saving for the user who does not need to manually create a journal to reverse the accruals when the actual expense was posted.
When creating a reversing batch, the option auto-reversing must be activated on the journal transaction. This will mark the automatic creation of the reversing batch posted to the next financial period.
Creating a recurring batch
Recurring batches are very useful when your company has a loan to pay periodically and the amount does not change.
You create a batch with the “balanced” status and attach it to a schedule. The batch will be posted according to its schedule and the system will stop the user from posting it separately.
The executed times counter will be updated on each run and every batch created by the scheduler will be visible in the “Generated documents” tab.
Posting transactions to closed periods
If the “Allow posting to close periods” is active in the General Ledger preferences, the system allows you to post to a closed period, even if this is in a different financial year. The system will automatically update the amount of the “Retained Earnings” and YTD Net Income account.