Valuation GL Process compares LinkPOS
and Financial Valuation. GL Valuation also creates a Journal with the difference
that can be posted to the financials to balance the GL accounts.
Steps to run GL Valuation:
-
Enable "POS013".Review POS Processes for the functionality of the processes.
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Create a "New Entry" on the GL
Valuation Page
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"Batch ID" is system
generated.
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"User Created" is the user who
has created the batch. This is system populated.
-
"Date Created" is the date on
which the batch was created. This is system populated.
-
"Period End Date" users need
to select the Period for valuation. Period End date should be the last day
of the month.
-
"Status" will be automatically
updated with the valuation process
-
"New" status indicates that the
entry is new.
-
"Invalid" status
indicates that there are error with data validation. Click on the "Grey
Triangle" to expand into the details to view the notes.
-
"Complete" status indicates
that GL Valuation has been successfully
completed.
-
"Recalculate", users can
recalculate the GL amounts after new transactions.
-
To
recalculate a batch, edit the
batch, tick the "Recalculate" option and save.
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"Create Journal", users
are required to check "create journal" which will post the journals
into the Financial. It is recommended to post journals after all
verifications. Once journal has been posted it can not be
recalculated.
-
To post a
journal, edit the batch, tick the "Create Journal" option and
save.
-
"Count" displays the number of
items in the valuation list.
-
"Total Value" states the total
difference in Financial and LINK valuation.
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Click on the "View" link to see
GL valuation entries
-
The
details will show
the difference in Financial and LINK Valuations.
-
Contain a
journal with the difference.
-
Valuation for each item with
respect to its Cost of Golds sold
accounts.
Notes:
-
Users must pots transactions in
the financial database before running the period valuation.
-
Validation will check for any
unposted adjustments, purchase received in LINKSOFT for the
period.
-
A user can choose to run the
valuation for a period multiple times provided prior valuations are
closed.
-
A user can initiate a valuation
by month as long as the period is open in the financial
database.