In Workamajig, in order for your transactions to be seen in the General Ledger and therefore available for financial reporting, each transaction must be approved and then, Posted. There are two methods of Posting transactions: 1) Single Method - via the approved transaction screen, ie. Voucher, Client Invoice, or payment, and 2) Batch Method - via the Post GL Transaction screen.
Which Method Should I Use?
Depending on the number of transactions and how your agency is organized, will determine which method is best for you.
Single Method - Each item is posted after approval. This is generally used when the same person that approves the item will also post the item.
Batch Method - Blocks/All Items are posted at once. This is generally used when the person approving the invoice is different than the accounting person or you prefer a review process prior to committing items to the General Ledger.
When Should I Post?
This is truly a preference of your agency. Obviously, if using the Single Method, it would be at the time of approval. For the Batch Method, many will review and post all items that were approved that day. Some will wait until the end of the week to do so. So it is truly up to you. However, before running any financial reports, all transactions for the subject time period must be posted to ensure the accuracy of the reports.
Is Posting Date Important?
Yes! The posting date set on the item will determine when it will affect your General Ledger and therefore your financial reports. By default, when you create an invoice or payment, the Posting Date will be auto-set to "Today's" date.
In the case of Client Invoice and Receipt, for example, the receipt posting date will determine when the invoice has been "paid" and therefore be removed from the AR Aging report.
What is "Post Sales Using Detail"?
This refers to a default setting from GL Tracking Options where the Sales Account that is used when you press Post, is based on the setup of your Services and Purchase Items. You can use the Select a Report drop-down to run the "Preposting by Transaction" report, in case you encounter an error and need to correct either the record or the setup of your Services and Items.
Posting A Single Transaction
Following the approval of the item, a Post button will appear in the top right corner of the screen. Simply click the button to Post.
The following example is that of a Client Invoice. Note the Post button.
However, Client Invoices, Vendor Invoices, Receipts, Payments, Journal Entries, and Credit Card Charges are the main records that can post down to the General Ledger.
Posting Multiple Transactions (Batch)
The Batch method allows you to gather and review all items prior to posting. We assume that you already understand how to approve the subject items.
Menu > Accounting > Post Transactions
The Post Transaction screen is divided into 3 parts: 1) Select a Report, 2) Search Options and 3) The Results Grid.
This area allows you to designate what items will flow into the reports or results grid.
- Starting Date: sets beginning date for looking at items
- Through Date: sets end date for looking at items
NOTE: many will leave both of these blank to ensure that all possible transactions are captured.
- Checkboxes: select the appropriate checkboxes to view appropriate transactions to display. Selections are Vendor Invoices, Payments, Client Invoices, Receipts, Journal Entrie, and Credit Card Charges. If a box is not selected, then no transaction from that section will be reported on.
It is recommended that prior to running the company financials that you select all boxes and ensure that all transactions for the appropriate time period have been posted.
This area shows all transactions based upon the selected search options. Once the posting routine has completed, it will display items that the system was unable to post.
In the Results Grid, check the box associated with the item line. To select all, check the box in the column header. Click the Post button, located in the top right corner of the screen.
Posting Detail Reports
Select a Report - Drop-down
Based upon the selections made in the Search options you are able to create a PDF report for the following:
- Missing Transactions - shows all transactions that are not sent for approval, sent for approval, or, in the case of payments, no check number.
- Preposting by Account - shows all transactions that are ready for posting grouped by the target GL Account. It will also show transactions that will not post due to the lack of a designated GL account.
- Prepost by Transaction - shows all transactions that are ready for posting grouped by the Invoice, Voucher, Payment or Receipt number. It will also show that the item can not post due to the lack of a designated GL account.