Posting Options

The five posting options perform the following functions:

·     Final Post.  Closes the account for the period.  A final post posts all valid current period unposted transactions to the Financial and Statistical Account/Center Master Files and prints the financial and statistical General Ledger Reports.  The actual amount field on each Account/Center Master File record is updated for the current period.  Quarter-to-date and year-to-date totals are also updated.  Locations can be final posted only once each fiscal period.  The final post option should be selected only after all current period journals for a location are entered and validated.

In order to execute a final post in the General Ledger, you must have already performed the period end processing in the other MAC-PAC modules that you have installed.  This includes Accounts Payable, Accounts Receivable, and Inventory Accounting.

When a Final Post is requested, the Daily Fiscal Journal reports are printed for each company/location for which the Daily Print flag on Reference File category 132 (Location Defaults) is set to Y (yes).

·     Demand Post.  Performs a preliminary post of all valid current period unposted transactions to the Financial and Statistical Account/Center Master Files and prints the financial and statistical General Ledger reports.  All account/centers for a location are processed.  Preliminary amounts are entered in the actual amount field on each Account/Center Master File record, and all cumulative total fields are updated.  Financial statements can then be prepared for locations that were demand posted.  Demand posting can be performed any number of times during an accounting period.  However, each location still must be final posted at the end of each period.

When a Demand Post is requested, the Daily Fiscal Journal reports are printed for each company/location for which the Daily Print flag on Reference File category 132 (Location Defaults) is set to Y (yes).

·     Quick Post.  Similar to demand post.  A quick post also posts all valid transactions for the current period that have not yet been posted.  However, it does not process every account/center.  Instead, it only processes accounts that have unposted transactions.  This can reduce the amount of time required for the post.  Because an account is only processed if it has activity, quick posting will not necessarily set up balances for every account.  To ensure that financial reports and inquiries are complete, you must run a demand post once for the period before running any quick posts.  Quick posting can be performed any number of times during an accounting period.

When a Quick Post is requested, the Daily Fiscal Journal reports are printed for each company/location for which the Daily Print flag on Reference File category 132 (Location Defaults) is set to Y (yes).

·     List.  Prints the financial and statistical General Ledger reports as if all valid current period unposted transactions were posted, but does not actually post any transactions to the Account/Center Master File.  All account/centers are included on the reports, even if they had no activity.  No amount fields on any Account/Center Master File records are updated.  The list option can be selected any number of times during an accounting period.  The option is used to detect any transaction errors before final posting.

·     Quick List.  Similar to list.  A quick list also prints the financial and statistical General Ledger reports without updating the account balances.  However, only accounts with unposted transactions in the current period are included in the report.  You may wish to run a demand post first to update the files, run a list post to obtain a complete list of all balances, then run quick posts as necessary to look at the net changes.