Within the general ledger area of e·silentpartner, the creation or reversals of journal entries are the only areas that impact general ledger postings.
- If you add a journal entry using the journal entry window, the posting period will be based on the date you enter.
- If you reverse a journal entry, the default posting period will be based on the date of the original journal entry. If the period is closed, you’ll be prompted to select a different posting period.
- If you enter a journal entry to last year, the last date of your prior year fiscal calendar will be used for the journal entry and the journal entry will be posted to the last fiscal period of your prior year. The effect of this journal entry will automatically be applied to the current year.
- Journal entries which affect the revenue and cost of sales accounts AND which have a client, client division, and/or team entered as part of the journal will eventually flow into the client and/or team income statements for the designated periods.