Advanced General Ledger
Advanced General Ledger
Course
Course
9.05.701
9.05.701
This document is for informational purposes only and
This document is for informational purposes only and is subject to change without notice. This document and is subject to change without notice. This document and itsits contents, including the viewpoints, dates and functional content expressed herein are believed to be accurate as of i contents, including the viewpoints, dates and functional content expressed herein are believed to be accurate as of i tsts date of publication.
date of publication. However, Epicor Software Corporation makes no guarantee, representations or However, Epicor Software Corporation makes no guarantee, representations or warranties withwarranties with regard to the enclosed information and specifically di
regard to the enclosed information and specifically di sclaims any applicable implied warranties, such as fitness for sclaims any applicable implied warranties, such as fitness for aa particular purpose, merchantability, satisfactory quality or reasonable skill and
particular purpose, merchantability, satisfactory quality or reasonable skill and care. As each user of Epicor care. As each user of Epicor software issoftware is likely to be unique in
likely to be unique in their requirements in the use of such software and their business processes, users of this documenttheir requirements in the use of such software and their business processes, users of this document are always advised to discuss the content of this document with their Epicor account manager. All information contain are always advised to discuss the content of this document with their Epicor account manager. All information contain eded herein is subject to change without notice and
herein is subject to change without notice and changes to this document since printing and other important informationchanges to this document since printing and other important information about the software product are made or published in
about the software product are made or published in release notes, and you are urged to obtain release notes, and you are urged to obtain the current releasethe current release notes for the software product. We welcome user comments and reserve the right to revise this
notes for the software product. We welcome user comments and reserve the right to revise this publication and/orpublication and/or make improvements or changes to the products or
make improvements or changes to the products or programs described in this publication programs described in this publication at any time, without notice.at any time, without notice. The usage of any Epicor software shall
The usage of any Epicor software shall be pursuant to an Epicor end user be pursuant to an Epicor end user license agreement and the performance oflicense agreement and the performance of any consulting services by Epicor
any consulting services by Epicor personnel shall be pursuant to personnel shall be pursuant to Epicor's standard services terms and conditions. UsageEpicor's standard services terms and conditions. Usage of the solution(s) described in this document with other Epicor software or third party products may require the purchase of the solution(s) described in this document with other Epicor software or third party products may require the purchase of licenses for such other products. Where any software is expressed to be
of licenses for such other products. Where any software is expressed to be compliant with local laws or requirementscompliant with local laws or requirements in this document, such compliance is not a
in this document, such compliance is not a warranty and is based solely on Epicor's current understanding of such warranty and is based solely on Epicor's current understanding of such lawslaws and requirements. All laws and requirements are subject to varying interpretations as well as to change and accordingly and requirements. All laws and requirements are subject to varying interpretations as well as to change and accordingly Epicor cannot guarantee that the software will be compliant and
Epicor cannot guarantee that the software will be compliant and up to date with such changes. All up to date with such changes. All statements ofstatements of platform and product compatibility in this document shall be considered
platform and product compatibility in this document shall be considered individually in relation to the products referredindividually in relation to the products referred to in the relevant statement, i.e., where any Epicor software is stated to
to in the relevant statement, i.e., where any Epicor software is stated to be compatible with one product and alsobe compatible with one product and also stated to be compatible with another product, it should
stated to be compatible with another product, it should not be interpreted that such Epicor software is compatiblenot be interpreted that such Epicor software is compatible with both of the products running at
with both of the products running at the same time on the same platform or environment. Additionally platform orthe same time on the same platform or environment. Additionally platform or product compatibility may require the application of Epi
product compatibility may require the application of Epi cor or third-party updates, patches and/or service packs andcor or third-party updates, patches and/or service packs and Epicor has no responsibility for compatibility
Epicor has no responsibility for compatibility issues which may be caused by updates, patches and/or service packsissues which may be caused by updates, patches and/or service packs released by third parties after the date of publ
released by third parties after the date of publ ication of this document. Epicorication of this document. Epicor®® is a registered trademark and/or is a registered trademark and/or
trademark of Epicor Software Corporation in the United States, certain other countries and/or the EU. All other trademark of Epicor Software Corporation in the United States, certain other countries and/or the EU. All other trademarks mentioned are the property of
trademarks mentioned are the property of their respective owners. Copyrighttheir respective owners. Copyright ©© Epicor Software Corporation 2012. Epicor Software Corporation 2012.
All rights reserved. No part of this publication
All rights reserved. No part of this publication may be reproduced in any form without the prior may be reproduced in any form without the prior written consent ofwritten consent of Epicor Software Corporation.
Epicor Software Corporation.
ED901905 ED901905 90521-905-8798-583701 90521-905-8798-583701 9.05.701 9.05.701 Revision: September 26, 2012 5:42 p.m. Revision: September 26, 2012 5:42 p.m. Total pages: 81 Total pages: 81 course.ditaval course.ditaval
This document is for informational purposes only and
This document is for informational purposes only and is subject to change without notice. This document and is subject to change without notice. This document and itsits contents, including the viewpoints, dates and functional content expressed herein are believed to be accurate as of i contents, including the viewpoints, dates and functional content expressed herein are believed to be accurate as of i tsts date of publication.
date of publication. However, Epicor Software Corporation makes no guarantee, representations or However, Epicor Software Corporation makes no guarantee, representations or warranties withwarranties with regard to the enclosed information and specifically di
regard to the enclosed information and specifically di sclaims any applicable implied warranties, such as fitness for sclaims any applicable implied warranties, such as fitness for aa particular purpose, merchantability, satisfactory quality or reasonable skill and
particular purpose, merchantability, satisfactory quality or reasonable skill and care. As each user of Epicor care. As each user of Epicor software issoftware is likely to be unique in
likely to be unique in their requirements in the use of such software and their business processes, users of this documenttheir requirements in the use of such software and their business processes, users of this document are always advised to discuss the content of this document with their Epicor account manager. All information contain are always advised to discuss the content of this document with their Epicor account manager. All information contain eded herein is subject to change without notice and
herein is subject to change without notice and changes to this document since printing and other important informationchanges to this document since printing and other important information about the software product are made or published in
about the software product are made or published in release notes, and you are urged to obtain release notes, and you are urged to obtain the current releasethe current release notes for the software product. We welcome user comments and reserve the right to revise this
notes for the software product. We welcome user comments and reserve the right to revise this publication and/orpublication and/or make improvements or changes to the products or
make improvements or changes to the products or programs described in this publication programs described in this publication at any time, without notice.at any time, without notice. The usage of any Epicor software shall
The usage of any Epicor software shall be pursuant to an Epicor end user be pursuant to an Epicor end user license agreement and the performance oflicense agreement and the performance of any consulting services by Epicor
any consulting services by Epicor personnel shall be pursuant to personnel shall be pursuant to Epicor's standard services terms and conditions. UsageEpicor's standard services terms and conditions. Usage of the solution(s) described in this document with other Epicor software or third party products may require the purchase of the solution(s) described in this document with other Epicor software or third party products may require the purchase of licenses for such other products. Where any software is expressed to be
of licenses for such other products. Where any software is expressed to be compliant with local laws or requirementscompliant with local laws or requirements in this document, such compliance is not a
in this document, such compliance is not a warranty and is based solely on Epicor's current understanding of such warranty and is based solely on Epicor's current understanding of such lawslaws and requirements. All laws and requirements are subject to varying interpretations as well as to change and accordingly and requirements. All laws and requirements are subject to varying interpretations as well as to change and accordingly Epicor cannot guarantee that the software will be compliant and
Epicor cannot guarantee that the software will be compliant and up to date with such changes. All up to date with such changes. All statements ofstatements of platform and product compatibility in this document shall be considered
platform and product compatibility in this document shall be considered individually in relation to the products referredindividually in relation to the products referred to in the relevant statement, i.e., where any Epicor software is stated to
to in the relevant statement, i.e., where any Epicor software is stated to be compatible with one product and alsobe compatible with one product and also stated to be compatible with another product, it should
stated to be compatible with another product, it should not be interpreted that such Epicor software is compatiblenot be interpreted that such Epicor software is compatible with both of the products running at
with both of the products running at the same time on the same platform or environment. Additionally platform orthe same time on the same platform or environment. Additionally platform or product compatibility may require the application of Epi
product compatibility may require the application of Epi cor or third-party updates, patches and/or service packs andcor or third-party updates, patches and/or service packs and Epicor has no responsibility for compatibility
Epicor has no responsibility for compatibility issues which may be caused by updates, patches and/or service packsissues which may be caused by updates, patches and/or service packs released by third parties after the date of publ
released by third parties after the date of publ ication of this document. Epicorication of this document. Epicor®® is a registered trademark and/or is a registered trademark and/or
trademark of Epicor Software Corporation in the United States, certain other countries and/or the EU. All other trademark of Epicor Software Corporation in the United States, certain other countries and/or the EU. All other trademarks mentioned are the property of
trademarks mentioned are the property of their respective owners. Copyrighttheir respective owners. Copyright ©© Epicor Software Corporation 2012. Epicor Software Corporation 2012.
All rights reserved. No part of this publication
All rights reserved. No part of this publication may be reproduced in any form without the prior may be reproduced in any form without the prior written consent ofwritten consent of Epicor Software Corporation.
Epicor Software Corporation.
ED901905 ED901905 90521-905-8798-583701 90521-905-8798-583701 9.05.701 9.05.701 Revision: September 26, 2012 5:42 p.m. Revision: September 26, 2012 5:42 p.m. Total pages: 81 Total pages: 81 course.ditaval course.ditaval
Contents
Contents
Advanced
Advanced General
General Ledger
Ledger Course...
Course...
...
...
...
...
...7
....7
Before
Before You
You Begin...
Begin...
...
...
...
...
...
...
...8
..8
Audi
Audienceence...8..8 Prere
Prerequisiquisites...tes...8..8 Environment
Environment Setup...Setup...8...8 Workshop
Workshop Constraints...Constraints...9...9
Overvie
Overview...
w...
...
...
...
...
...
...
...10
...10
Daily
Daily Advanced
Advanced General
General Ledger
Ledger Processing...
Processing...
...
...
...
...11
11
Advanced
Advanced General General Ledger Ledger Topics...Topics...11...11 GL
GL Transaction Transaction Type Type Maintenance...Maintenance...11...11 Revision
Revision Control...Control...12.12 Revi
Revisionssions...12...12 Active
Active Mode...Mode...14...14 Workshop
Workshop - - Add Add a a Revision...Revision...14...14 Manual
Manual Review...Review...15.15 Workshop -
Workshop - Review Review Transactions in Transactions in the the Review Journal...Review Journal...15...15 Incoming
Incoming Document Document Templates...Templates...16.16 Selection
Selection Criteria...Criteria...17.17 Posting
Posting Codes...Codes...17...17 Posting
Posting (Booking) (Booking) Rules...Rules...18...18 Operat
Operations...ions...1919 Func
Functiontions...s...20...20 Workshop
Workshop - - Copy Copy and and Delete Delete Posting Posting Rules...Rules...21...21 Multiple
Multiple Books...Books...22...22 Book
Book Maintenance...Maintenance...23...23 Retained
Retained Earnings...Earnings...24...24 Vali
Validationdations...s...25...25 Rounding
Rounding Differences...Differences...26.26 Source
Source Book...Book...26...26 Book
Book Detail...Detail...27...27 Workshop
Workshop - - Create Create a a General General Ledger Ledger Book...Book...27...27 Workshop - Set Up Posting
Workshop - Set Up Posting for Multiple Books in for Multiple Books in GL Transaction Type Maintenance...GL Transaction Type Maintenance...28...28 Add
Add a a Book Book to to the the AR AR Invoice Invoice Revision...Revision...28...28 Use
Use Mapping...Mapping...28...28 Workshop -
Workshop - Post a Post a Transaction to Transaction to Multiple Multiple Books...Books...29...29 Activate
Activate Manual Manual Posting Posting for for Revision...Revision...29...29 Enter
Enter an an AR AR Invoice...Invoice...29...29 Review
Review Transactions...Transactions...30.30 Workshop - Link
Workshop - Link to a to a Source Book Source Book with a with a Different Book Currency...Different Book Currency...30.30 Add
Link
Link to to Source Source Book...Book...31...31 Enable
Enable GL GL Transaction Transaction Configuration...Configuration...31...31 Review
Review the the AP AP Invoice Invoice Transaction Type Transaction Type Revision...Revision...31.31 Workshop -
Workshop - Post a Post a Manual GL Manual GL Journal to Journal to Multiple Multiple Books...Books...32...32 Set
Set Up Up Journal Journal Entries Entries for for Multiple Multiple Books...Books...32.32 Add
Add a a Book Book to to MultiGLJrn...MultiGLJrn...33...33 Create a
Create a Journal Journal Entry Group Entry Group for Multiplfor Multiple e Books...Books...33.33 Enter
Enter a a Journal Journal Header Header and and Lines...Lines...33.33 Post
Post the the Transaction...Transaction...34...34 Review
Review Transactions...Transactions...34.34 Chart
Chart of of Accounts Accounts Mapping...Mapping...35.35 Workshop
Workshop - - Use Use Mapping...Mapping...35...35 Add
Add a a COA COA Map...Map...36...36 Add
Add GL GL Account Account Mapping...Mapping...36.36 Add
Add a a Book...Book...37...37 Link
Link to to Source Source Book Book with with Mapping...Mapping...37...37 Enable
Enable GL GL Transaction Transaction Configuration...Configuration...37...37 Review
Review the the Active Active Revision...Revision...37...37 Enter
Enter an an AR AR Invoice...Invoice...38...38 Review
Review the the Results...Results...38.38 Dynamic
Dynamic Account Account Segments...Segments...39...39 Workshop
Workshop - - Add Add a a Dynamic Dynamic Segment...Segment...39...39 Workshop
Workshop - - Post Post Sales Sales to to a a Dynamic Segment...Dynamic Segment...40...40 Import
Import a a Revision Revision Template...Template...40...40 Create Revision
Create Revision and and Add CustID Add CustID to to Input Input Document...Document...41.41 Use
Use CustID CustID to to Populate Populate the the Customer Segment...Customer Segment...41...41 Activate
Activate the the Dynamic Dynamic Revision...Revision...42...42 Create
Create an an AR AR Invoice...Invoice...42...42 Review
Review the the Transaction...Transaction...43...43 Advanced
Advanced Allocations...Allocations...43...43 Allocation
Allocation Code Code Maintenance...Maintenance...44...44 Workshop -
Workshop - Enter a Enter a Transactional Allocation Transactional Allocation Code (Fixed Code (Fixed Value)...Value)...45...45 Add an
Add an Allocation and Allocation and Define its Define its General Parameters...General Parameters...45...45 Enter
Enter Source Source Data Data Criteria...Criteria...46...46 Add
Add Target Target Accounts...Accounts...46.46 Create
Create a a New New Group Group and and Journal...Journal...46.46 Post
Post to to the the Source Source Account...Account...47.47 Workshop -
Workshop - Enter a Enter a Transactional Allocation Transactional Allocation Code (Formula)...Code (Formula)...47...47 Add
Add an an Allocation Allocation Code...Code...47...47 Enter
Enter Source Source Data Data Criteria...Criteria...48...48 Define
Define Formula Formula Parameters...Parameters...48...48 Define
Define Non-Financial Non-Financial Data Data for for each each Formula Formula Parameter...Parameter...48...48 Add
Add Target Target Accounts Accounts with with Formula Formula Criteria...Criteria...49.49 Create
Create a a New New Group Group and and Journal...Journal...50.50 Post
Allocation Batch Entry...51
Workshop - Enter and Schedule an Allocation Batch...51
Enter an Allocation Batch...51
Add Allocation Batch Codes...52
Generate a Schedule...52
Tiered Allocations...52
Workshop - Enter Tiered Allocations...54
Add Tiered Allocation Codes...54
Enter Source Data for Tier 1...55
Enter Source Data for Tier 2...55
Add Target Accounts for Tier 1...55
Add Target Accounts for Tier 2...56
Post to the Source Account...56
Workshop - Batch Tiered Allocations...57
Enter an Allocation Batch...57
Add Allocation Batch Codes...57
Generate Schedule...58
Generate Allocations...58
Workshop - Write Allocations to the General Ledger...59
Submit the Allocation Generation...59
Allocation History Tracker...59
Workshop - Track Allocations...59
Track Allocations...59
Review Allocation GL Transactions...60
Workshop - Reverse an Allocation Run...60
Simulate Allocations...61
Workshop - Generate and Track Simulation Allocations...61
Generate Simulation Allocations...61
Track Simulation Allocations...62
Review Simulation Allocation Transactions...62
General Ledger in a Multi-Company Environment...62
Multi-Company Functionality Setup...62
External System Maintenance...63
External Company Maintenance...64
Business Entity...65
GL Controls...65
Multi-Company Server Process...65
MultiCompany.log file...66
Multi-Company General Ledger Accounts...66
Workshop - Maintain Multi-Company GL Accounts...67
Update GL Accounts in Epicor Education...67
Initialize External Companies...67
Multi-Company Journals...68
Workshop - Create and Link a Multi-Company Journal...69
Enter a Journal Header...70
Add Journal Lines...70
Post the Transaction...70
Review the Corresponding Journal Entry in Epicor Education...71
Post the Journal Group in Epicor Education...71
GL Consolidation...71
Process Flow...72
Consolidation Process...74
Workshop - Enter a Consolidation Definition...74
Workshop - Consolidate to Parent...75
Post a General Journal Entry in Epicor Education...75
Enter a New Consolidation...76
Get All Default Rates...77
Post and Print the Consolidation...77
Transfer Consolidation to Target Book...77
Review Transactions in the Target Company...78
Advanced General Ledger Course
This course combines general ledger (GL) features from several topics (such as multi-company management, multiple books, advanced allocations, consolidation, and GL account mapping) to encompass all the information an advanced Epicor ERP GL user must know.
The Advanced General Ledger course provides a clear perspective of the programs, concepts, and processes you encounter as you work with some of the more advanced GL features. The course workshops guide you through the posting process for complex scenarios and covers several aspects of how the GL integrates with other Epicor modules.
Upon successful completion of this course, you will be able to:
• Create revisions to configure the posting process on a transaction type
• Further comprehend the unified posting process for complex business transactions • Review GL transactions in the Review Journal before they post
• Use multiple books for financial reporting and analysis of the same business transactions • Define account maps used to transfer journals between different charts of accounts • Link secondary books to a source book
• Become familiar with the flexible, rule-based posting mechanism • Allocate amounts using four types of source data
• Create tiered GL allocations
• Batch, schedule, simulate and generate allocations • Maintain multi-company general ledger accounts • Process multi-company journals
Before You Begin
Read this topic for information you should know in order to successfully complete this course.
Audience
Specific audiences will benefit from this course.
• CFO/Controller • Accountant/Financial Specialist • AP Manager • AR Manager • Payroll Manager • System Administrator
Prerequisites
In order to complete the workshops in this course, all necessary modules must be licensed and operating in your training environment. For more information on the modules available, contact your Epicor Customer Account Manager at [email protected]. It is also important you understand the prerequisite knowledge contained in other valuable courses.
• General Ledger Course - This course provides a clear perspective of the maintenance programs, concepts,
processes, and reporting tools you encounter as you work within the General Ledger (GL) module.
• Posting Engine - This course provides an overview of the posting process concept for the Epicor application
and the Posting Engine as the technology to implement this process. In addition, the course discusses how the posting engine provides flexibility and control over the financial transaction creation process in the Epicor application.
Environment Setup
The environment setup steps and potential workshop constraints must be reviewed in order to successfully complete the workshops in this course.
Your Epicor training environment, in which the Epicor demonstration database is found, enables you to experience Epicor functionality in action but does not affect data in your live, production environment.
1. Verify the following or ask your system administrator to verify for you:
• Your Epicor training icon (or web address if you are using Epicor Web Access) points to your
Epicor training environment with the Epicor demonstration database installed. Do not complete the course workshops in your live, production environment.
Note It is recommended that multiple Epi cor demonstration databases are installed. Contact Support or Systems Consulting for billable assistance.
• The Epicor demonstration database is at the same service pack and patch as the Epicor
application. Epicor's education team updates the Epicor demonstration database for each service pack and patch. If your system administrator upgrades your Epicor application to a new service pack or patch, he or she must also download the corresponding Epi cor demonstration database from EPICweb > Support > Epicor > Downloads and install it. If this is not performed, unexpected resul ts can occur when completing the course workshops.
• Your system administrator restored (refreshed) the Epicor demonstration database prior to
starting this course. The Epicor demonstration database comes standard with parts, customers, sales orders, and so on, already defined. If the Epicor demonstration database is shared with multiple users (that is, the database is located on a server and users access the same data, much like your live, production environment) and is not periodically refreshed, unexpected results can occur. For example, if a course workshop requires you to ship a sales order that came standard in the Epicor demonstration database, but a different user already completed this workshop and the Epicor demonstration database was not restored (refreshed), then you will not be able to ship the sales order. Epicor's education team has written the course workshops to minimize situations like this from occurring, but Epicor cannot prevent users from manipulating the data in your installation of the Epicor demonstration database.
2. Log in to the training environment using the credentials manager/manager. If you are logged in to your training environment as a different user, from the Options menu, select Change User.
3. From the Main menu, select the company Epicor Education (EPIC06). 4. From the Main menu, select the Main Plant.
5. SonicMQ must be installed and operational in the same environment as your Epicor ERP training database, and the SonicMQ DomainManager and SonicMQ Broker (or SonicMQ Container) must be started. For assistance, contact your System Administrator or refer to the Multi-Site Technical Reference Guide section - Verify SonicMQ Broker Status. This guide is accessible from the Application Help.
6. Schedule the Multi-Company Server Process in the demonstration database. For assistance, contact your System Administrator or refer to the Epicor ERP Install Guide section - Schedule the Multi-Company Server Process - which is available for download on the EPICweb.
7. Start the Multi-Company Server Process for the demonstration database. For assistance, contact your System Administrator or refer to the Epicor ERP Install Guide section - Start the Multi-Company Process.
Workshop Constraints
All workshops in this course can be performed only once in each instance of a restored (refreshed) database. If a user has already completed these workshops in the database, the database must be restored (refreshed) before another user can complete this course.
Overview
A company's general ledger (GL) is the main repository for financial information. The GL processes and posts entries created by all interfaced modules, such as Inventory Management, Accounts Receivable, Accounts Payable and Payroll. Manual and multi-company journal entries can also be made directly to the GL.
In the Epicor application, the posting process first collects financial data and then evaluates this information to create appropriate GL transactions. The "behind the scenes" functionality which runs this process is called the Posting Engine.
The Posting Engine functionality runs independently for each company within the Epicor application. If a company has multiple books defined for specific financial requirements, each book can have a unique set of posting rules defined. Posting rules indicate how and when al l business and GL transactions post to various accounts.
Use multiple GL books to display the same financial information in multiple contexts. Multiple books are useful if you need to report and analyze the same financial business transactions in different ways, including in multiple charts of accounts, currencies, methods of accounting, and fiscal calendars.
As transactions occur within a company, create consolidated financial statements to report on all companies or books at once. Consolidation is the process of rolling up GL transactions and balances from one or more child company to the parent(s). Accounting data is consolidated for subsidiary accounts mapped to parent accounts that are active for a specific fiscal period.
The Epicor application's Multi-Site module provides support for centralized accounting and purchasing, intercompany trading, and the separation of production facilities. Multi-company consolidation can be set up between all or some companies in the database. Companies outside the application can also complete financial rollups.
Use the GL Advanced Allocation module to disburse amounts booked to the GL into a more detailed and specific representation. The Advanced Allocations module reviews how to set up, generate, simulate, and view different types of allocations.
Daily Advanced General Ledger Processing
This section of the Advanced General Ledger course focuses on General Ledger processes which may take place during a typical work day.
Advanced General Ledger Topics
This section of the course describes how to post transactions into multiple books, set mapping between charts of accounts, create dynamic account segments, and providing greater flexibility and control over the process of creating financial transactions.
Note You can define which financial modules post transactions to the general ledger within your General Ledger Configuration options in Company Configuration.
GL Transaction Type Maintenance
GL Transaction Type Maintenance defines the processes you use to post accounts and journals. The posting process provides a unified series of rules which are applied against specific business transactions.
Each posting process uses one or more GL transaction types. Each GL transaction type has a set of elements -posting codes, functions, and amounts - specific to its -posting process. These elements contain data the -posting rules need to build account and journal details. It also contains a set of rules each book uses; each rule set can contain the functions, pre-posting rules, reference rules, and posting rules needed to post business transactions which match the GL transaction type. These rules are flexible and can be modified to meet the needs of a specific book.
Important The Virtual Business Document (VBD) and Posting Rules are upgraded only if there is an actual change, improving the performance of the conversion program when a new service pack is released. Refer to the Transaction Type Conversion application help topic for detailed information on how the conversion program updates GL transaction types during an upgrade to a new service pack or a new version of the product.
Tip GL Transaction Type Maintenance is sometimes called Automated Booking Setup. Use this program to do the following:
• Define the active revision you need to post transactions. This applies the posting codes, amounts, pre-posting
rules, functions, business activity queries, posting rules, reference rules, and other items defined within the revision. For example, you can define a transaction type revision so it matches a business process within the current company, or you can define a revision to integrate your Epicor application with other applications.
• Summarize the journals posted to a book by transaction type. As you post invoices, vouchers, and other
transactions, a large number of detail records can generate within the database. Use summary journals to reduce how many financial transactions save to general ledger tables.
• Define the posting codes, amounts, and other elements used to post transactions for this type. Posting codes
determine the attributes you use with the accounts and journals.
• Define the rules used to post transactions. Posting rules can create a single detail or a pair of balancing details.
These rules determine the detail line amount, the account to which the detail posts, and whether the detail amount debits or credits the account. In some cases, the rules create a GL control used to store account
contexts for later processing. Pre-posting rules define the defaults used when you manually enter general ledger accounts.
Important If you modify or delete posting rules, it can cause the Epicor application to generate invalid journals. Display results in the Review Journal to ensure new and modified posting rules create valid
transactions. You should also first run your modified rules on a test server so that you avoid the risk of posting invalid journals to the general ledger. For more information on how to create and edit posting rules, review the Posting Engine Technical Reference Guide. This guide also contains a reference section which documents the extended set of posting rules. It is available in the application help; use the help Table of Contents and navigate to the General Ledger > Working With section.
Note that you cannot create a new transaction type. Instead, add a new revision to an existing transaction type. You can assign revisions to different books. Each book has settings that also affect the posting process. These settings include the chart of accounts, fiscal calendar, and currency the book uses. The general ledger control used by the posting process defines the accounts that posting rules use. You can set up the posting rules in one book and then use these same rules i n another book.
Example You define a rule for a journal which generates when a sales order posts. The rule obtains the warehouse ID for the inventory sold and sets the value of a dynamic segment based on the ID.
Menu Path
Navigate to this program from the Main Menu:
• Financial Management > General Ledger > Setup > GL Transaction Type
Important This program is not available in the Epicor Web Access™ interface. You can launch this program
from an Epicor Smart Client (Windows®) interface.
Revision Control
The Epicor application contains default revisions which use the elements (posting codes, functions, and amounts) and posting rules the posting process requires.
You cannot change the installed posting rules and elements to control changes to the posting processes. You can only change and delete new revisions you create.
The Epicor application also prevents an upgrade revision (typically installed through a service pack) to overwrite an active, modified revision. You can therefore compare the upgrade revision to your modified revision and change the upgrade revision as necessary. You can then change the upgraded revision's status to Active.
Revisions
To modify transaction types, you create revisions. Only one revision can be active at a time within the book. As an option, you can activate and block different revisions depending upon an Apply Date value, so you can set up a series of revisions to run in a scheduled sequence you define. You can either create a new revision by copying the existing posting rules, or you can create an entirely new revision which contains no posting rules and create the posting rules you need.
You can add or update many items within each revision; you can modify posting codes, pre-posting rules, posting rules, reference rules, functions, book variables, rules variables, operations, and so on.
You can assign one of three status levels to each revision. Each status defines the current state of the revision. Assign the status on the Revisions > Revision Detail sheet. The Status field has the following options:
• Active - The revision the application currently uses to post GL transactions for the GL transaction type. The
revision is in use, processing GL transactions for all books assigned to it. Only one revision can be active at a time for each GL transaction type and you cannot modify an active revision.
• Draft - A revision you are currently modifying; this status is the default when you create a new revision. For
as long as the revision stays in the draft status, you can edit it. Once you change i ts status to Active or Blocked, it can no longer be updated.
• Blocked - A previous or alternate revision which is no longer in use. The application does not use this revision
to generate GL transactions for the current GL transaction type. Although you cannot modify a bl ocked revision, you can change its status back to active and use it to post again. Blocked revisions are also used as a reference to compare against the active and draft revision(s).
Use different revisions to model and test changes in the accounting logic for each transaction type. For example, your company uses posting rules to set values for a dynamic segment that defines a product line. The product line expires at the end of the year. You create a revision that includes new posting rules which record this change at the same time.
Tip You cannot delete or modify the installed versions of the GL transaction types. You can only create a new revision based on the original GL transaction type. If necessary, you can activate the original revision (which is assigned the blocked status) to restore the original posting process.
Revision Options
In addition to creating a new revision and assigning it a status, you can perform the following actions:
• Review All Transactions-- When you select the Manually review all transactions check box, you activate
the manual review option. This causes the application to capture all GL transactions generated by the process and log them in the Review Journal. Epicor recommends you select this option while you are creating and testing a revision; after you are satisfied with the results, be sure to clear this check box option so the Review Journal only captures errors and warnings.
• Schedule Different Revisions-- Changes in revisions can reflect changes in accounting processes. You can
indicate when a specific revision becomes active by entering a date within the Effective Revision Date (From) field. When the system clock advances to this date, this revision becomes active and the previous revision becomes blocked. The current revision then stays active until the system clock moves to a future effective date on another revision. In this way, you can schedule a series of revisions to become active as you need.
Upgrades and Revisions
When you upgrade the Epicor application through a service pack or patch, your custom revisions are not overridden. The upgrade process first reviews the revision numbers; if it finds that a user modified revision is active for a GL transaction type, it does not change it. An active revision only upgrades if it is the original default revision installed with the application.
Instead, the installed default revisions are automatically assigned the bl ocked status. You can then review the blocked version to see if any updates are needed to your modified revision. If you wish, you can then add your modifications to the new default revision and assign it the active status.
Updates are always automatically installed for both the Standard and Extended packages of rules. Compare Revisions
Before you make changes to a revision, you can compare revisions to see the different posting elements and rules between the two versions. To do this, click on the Actions menu and select Compare Revisions. Use this window to review the differences between the revisions.
Active Mode
The Epicor application supports two modes of active revisions.
Define which mode you want on the Accounting Transaction Type sheet:
• Always a Single Active Revision - This GL transaction type can only have a single active revision available
at any time for the posting process.
• Select an Active Revision by Date - The GL transaction can have several active revisions available through
a schedule you define. In this mode, each active revision must have an Effective Revision Date (From) value. Use this date to indicate when this active revision is specifically used during the posting process. This field is available on the Revision > Revision Detail sheet. When the system clock moves to the date value defined on the next active revision, the application automatically sets the status of the previous active revision to Blocked.
Example The company uses posting rules to set values for a dynamic segment which tracks a product line. The product line expires at the end of the year. You set a revision that includes new posting rules to take effect at the same time.
Workshop - Add a Revision
Default revisions have a status of Active or Blocked and cannot be modified. To configure the posting process for a specific transaction type, add a new revision. This workshop demonstrates how to use one of the available revisions as a template to add a new revision.
Navigate to GL Transaction Type Maintenance.
Menu Path: Financial Management > General Ledger > Setup > GL Transaction Type
Important This program is not available in the Epicor Web Access™ interface. You can launch this program
from an Epicor Smart Client (Windows®) interface.
1. In the Transaction Type field, search for and select AR Invoice. 2. From the New menu, select New Revision.
The New Revision window displays.
3. Verify Create new revision by copying existing revision is selected. 4. In the SourceRevision field, select 905 Std (Active).
5. Click OK.
The Revisions > Revision Detail sheet displays. This may take several minutes. 6. Select Revision: A - Draft from the tree view.
7. In the Revision ID field, enter XXXOp (where XXX are your initials). 8. Click Save.
Manual Review
Use GL Transaction Type Maintenance to activate the manual review functionality.
Typically, valid transactions automatically post to the general ledger (GL) without review. You can indicate that you want to review all GL transactions before they post. It is best to leverage this feature when you activate a new revision. A manual review of the transactions can help identify errors that can occur during the posting process of a revision.
To activate the manual review functionality, navigate to the Revisions > Revision Detail sheet and select the Manually review all transactions check box.
When you use the manual review feature, all GL transactions post directly to the Review Journal, where you can review the transaction line details. From there you can use the Actions menu to confirm, adjust, or cancel each GL transaction.
Workshop - Review Transactions in the Review Journal
If you need to modify one or more of the posting rules, manual review i s recommended. This workshop demonstrates how to set up and use the manual transaction review functionality.
Activate Manual Posting
Maximize GL Transaction Type Maintenance.
1. In the tree view, select AR Invoice > Revision: 905 Std - Active. The Revisions > Revision Detail sheet displays.
2. Select the Manually review all transactions check box. 3. Click Save.
4. Minimize GL Transaction Type Maintenance.
Enter an AR Invoice
Navigate to AR Invoice Entry.
Menu Path: Financial Management > Accounts Receivable > General Operations > Invoice Entry 1. From the New menu, select New Group.
2. In the Group field, enter XXXGroup (where XXX are your initials). 3. From the New menu, select New Miscellaneous Invoice.
The Header > Detail sheet displays.
4. In the Sales Order field, enter 5120 and press Tab. 5. From the New menu, select New Line.
The Line > Detail sheet displays.
6. In the SO Line/Rel field, search for and select the line that displays. 7. Click Save.
8. From the Actions menu, select Group > Post. The AR Invoice Post Process window displays.
9. Click Submit and close the AR Invoice Post Process window. 10. Exit AR Invoice Entry.
Use the Review Journal
Navigate to the Review Journal.
Menu Path: Financial Management > General Ledger > General Operations > Review Journal 1. Click the Journal Entry button.
The Review Journal Entry Search window displays. 2. In the User ID field, enter Manager.
3. Click Search.
4. Double-click the latest search record line to select i t.
5. In the tree view, navigate to and select NNN > Main Book > YYY AR Invoice > Transaction Lines > Records: All > 1 (where NNN is the Review Journal number and YYY is the AR Invoice reference). The Transactions > Lines > Detail sheet displays.
6. Review the transaction details for the first line.
The field below the Amount field displays whether the amount debits or credits an account. In this task, the amount debits the account used to generate transaction line 1.
The GLAccount section displays the general ledger account number for transaction line 1. The Booking Rule Reference field displays the posting rule used to generate transaction line 1. The Description field displays the reference details for the AR invoice.
7. From the Actions menu, select Journal Entry Confirmation. The transactions are now posted to the general ledger.
8. Exit the Review Journal.
Incoming Document Templates
An incoming document template specifies the elements used to gather business transaction data for the posting rules. Each GL transaction type uses one or more templates, and each template has a set of elements unique to the posting process for that GL transaction type.
All templates gather both general and specific data about posted business transactions. General information includes the date the business transaction posts, the business entity involved in the transaction, and the journal code for the transaction. Each template also contains a set of elements specific to a posting process. For example, the template used to post invoices defines elements that contain data from the invoice header, invoice lines, and tax lines.
Templates can combine predefined and custom elements. Predefined elements ensure support for the transaction type's posting processes. You cannot change or delete predefined elements. You can add custom elements to provide attributes needed by any new or modified posting rules. You can also modify and delete your custom elements.
The posting rules for a revision use information from the template elements to define journal details. These rules, except for the reference rule, determine the detail amount, the account to which the detail posts, and whether the amount debits or credits the account. The reference rule is used to set up and populate a reference GL control with no direct relation to posting any amounts or selecting debit and credit accounts.
Each incoming document template contains the following elements:
• Document Lines - Document lines group elements obtained from a portion of the posted transaction. For
example, an accounts receivable invoice template contains document lines for the invoice header, invoice line, tax line, and miscellaneous charge line.
• Posting Entities - Entities group related posting codes together. An entity holds a posting code col lection
and provides default settings used to populate fields.
• Posting Codes - Posting codes define the parameters used with posting rule operation s and functions. Posting
rules use posting code values to create journal details. You can add posting codes and modify and delete the codes you create. Posting codes are grouped under a parent posting entity.
• Amounts - Amount elements hold the transaction amounts used by calculated fields.
Selection Criteria
In GL Transaction Type Maintenance, selection criteria are statements which return specific data from the posting codes on the revision. The posting rules then use the data to create accounts used in journal details.
The incoming document template contains posting codes unique to its process. The posting codes are grouped by posting entities and the entities are then grouped by the document lines from the business transaction (incoming document template).
You can create or update selection criteria to return the posting code data required by a rule. For example, you want to define a rule which posts an invoice amount to an account segment based on the Warehouse ID. The incoming document template contains an invoice line element which has the warehouse posting entity which contains the posting code required for each warehouse. You select Invoice Line in the For Each field and use the other field in the sheet to create a statement that selects the correct posting code. The result resembles a WHERE clause in a SQL statement. You then click Add to include the statement in the Selection Criteria field. You use the And, Or, and Not buttons to insert logical operators into the statement.
Selection criteria can only pull in data from parent tables. Any information stored in child tables cannot be pulled in by using selection criteria from the parent. You must create or modify a posting rule which pulls in data directly from the child table.
Posting Codes
To add posting codes, you define settings that control how the revision retrieves data used for its posting rules. These rules includes defining the data source for the posting codes. The application obtains data for posting code fields by using:
• Entity Fields-- Business entities (do not confuse these items with posting entities) are static database tables
like Part, Customer, and Supplier which contain data a business transaction requires. Because of this, you can specify a field in the same table to access data in the business entity field.
• Business Activity Queries (BAQs)-- You can pull in more detail into the revision by linking a business activity
query (BAQ) to an incoming document template. The revision then uses selection criteria defined for a posting rule to obtain data pulled in by the BAQ. The interface can return a value from a single field or a calculated sum of fields.
Posting (Booking) Rules
Each revision contains a series of booking rules (also called posting rules). These rules include general posting rules, header rules, pre-posting rules, reference rules, and functions. Rules defined for a single book make up a rule set; each rule set generates a complete journal which posts to the book.
Posting rules create business transaction journal details. These rules create either a single journal detail entry or a pair of balancing entries. Rules determine the amount, the accounts to which the amount posts, and whether the amount debits or credits the account. The Reference rules are di fferent; these rules are used to set up and populate a reference GL control with no direct relation to posting any amounts or selecting debit and credit accounts.
The version control on the rule level is used when comparing two rule sets, one of which is about to be i mported and the other already in the system. This provides a way to distinguish between posting rules that have changed and therefore need to be pulled in. Those that have not changed do not need to be imported, saving time on the import and conversion.
The Version field specifies the individual rule version. The Version field uses a single numeric sequence and increments every time a rule is changed in a corresponding rule.
The Patch Version field specifies the rule patch version. A single numeric sequence is used and it increments each time a change is released in a patch to a client between service packs. The patch version resets to zero every time a service pack is released.
To create a new posting rule, add a rule and select appropriate values to define each modifiable option. Each rule builds the detail field-by-field. You can create, modify, and delete all posting rules.
Example You define a rule for a transaction that generates when a sales order posts. The rule obtains the warehouse ID for inventory sold and sets the value of a dynamic segment based on that ID.
The items you can modify for posting rules include:
• Variables: Use variables to store an intermediate value required to calculate a specific field in a rule.
• Functions: These reusable rules define processes used across the posting rules for the transaction type. The
posting rules reference them. For example, the book might use a chart of accounts with a mandatory division segment. A reusable function pulls in a posting code value used to look up and return the segment value.
• Parameters: These items select the posting code to which the posting rules apply. The Selection sheet defines
the process used to select a posting code from one of the document lines in the incoming document template.
• Operations: These items include functions used to define container values. Operations include lookup functions
that set segment values based on the attributes defined in a posted transaction.
Posting rules can also create output general ledger (GL) controls. These optional controls associate source non-GL data, detail accounts, and account contexts. By storing this data, the Epicor application can then use it during later processing.
Tip If you need to make minor changes to the posting process for a transaction type, use account mapping and lookup tables. Chart of Accounts Mapping defines maps between chart of accounts (COA) segments. A map transfers journal details from one book into another book. Lookup Tables Setup locates a segment value based on a value in the posted transaction. This reduces the need to define lookup tables in posting rules.
Header Rule
This posting rule type sets up data that all GL journal details share, for example, Journal Code and Apply Date. No GL journal details are produced.
You can use this rule to assign default values to GL journal detail fields, but you can also override these values in the posting rules. For example, you can initiate transaction text in the header rule but then override this text in a posting rule which generates later.
To add a new header rule, add a new posting rule and select its Header check box. Posting rules, together with a header rule, create a GL transaction.
Pre-Posting Rule
Pre-posting rules create a GL control with a determined account. Use this feature in certain programs to provide a default account before the actual transaction document posts.
Each pre-posting rule is called individually. They do not produce GL journal details. To add a pre-posting rule, from the New menu, select New Pre-Posting Rule.
Example A pre-posting rule creates the default expense account for the miscellaneous line on a purchase invoice.
Reference Rule
The Reference Rule supports correspondence accounting by generating strictly bi-line GL transactions. This rule functions similarly to the pre-posting rules. The reference rule is used only to populate a GL control and it does not populate any amounts or debit/credit accounts. Correspondingly, this rule type does not create GL journal details. However, unlike pre-posting rules, the reference rule is run during the normal posting process and has a property that indicates the specific posting entity to which the outgoing GL control is attached.
To add a pre-posting rule, from the New menu, select New Reference Rule. Functions
Each function is an algorithm that pulls in data common to the posting rules within the GL transaction type. All other rules and functions share it. You can create, modify, and delete functions as necessary. When you add or modify a function, you extend the operations list availabl e to the posting rules.
To add a new function, from the New menu, select New Function.
Operations
Use GL Transaction Type Maintenance to add, modify, and delete rule operations. The Revisions > Book > Booking Rules > Operations sheet has three sections:
• Summary • Type • Options
Summary
This area displays operations available for the posting rules. Type
Use these radio buttons to indicate whether the type is an Operation or a Logical Condition. An operation is an algorithm which calculates a value or values; a logical condition uses If, Then, or Else commands to determine how the data processes as it moves through the operation al gorithms. Select the type you need; these options change what displays in the Options section.
Options
This section contains two fields whose values reflect the selected operation type.
• If you select the Operation option, the Field Name and Formula fields display. The list of fields (Field Name)
available for an operation depend on the GL transaction type and the posting rule details. The Formula field contains a rule template with variables. The black text is a rule instruction you cannot change. The blue underlined text is modifiable. Click on this text and select the variable value you need.
• If you select the Logical Condition option, the Logical Condition and Formula fields are available. The
logical condition list includes Else, Else If, and If. Just like the Operation option, the Formula field contains a rule template with variables. The black text is a rule instruction you cannot change. The blue underlined text, however, is modifiable. Click on this text and select the variable value you need.
Functions
Functions are standard packages of posting rules which contain functionality common across the posting rules within a revision. They include the rules required to populate account segments for natural accounts, divisions and departments.
When you install or update the Epicor application, functions are included as part of each GL transaction type revision.
Typically each function contains a series of account and journal contexts. When the posting engine processes the function, it pulls in a complex piece of data and makes this data available to the pre-posting, posting, and reference rules for the revision. For example, when the AR Invoice transaction type is run, its functions pull AR account information out of the database to make this information available to the AR invoice posting rules. Each function is an algorithm that gathers the specific data and the function code which processes the informati on into a format usable by the pre-posting, posting, and reference rules. All other rules and functions share the
gathered data. You can create, modify, and delete functions as necessary. When you add or modify a function, you extend the operations list available to the posting rules.
Functions are very useful when you create or update posting rul es. You can use functions to avoid writing complex rules to pull in common financial data. They also help you avoid constantly repeating the GL hierarchy while you develop posting rules.
System Functions
A list of the system functions is below.
These algorithms define operations common across the GL Transaction Types. Items you can modify are in bold text.
• A = B • Value
• Lookup Map name For Field Using arg1, arg2
• Lookup COA map name For Segment Using Segment value • Lookup Business Data Using Query Field
• Convert Amount To Currency Using Rate Type • End of Period which includes Date
• Account is Valid • Account is not Valid • Value is Available • Value is not Available
• Get Account From GLControl For Current Book AND Context Context • Get Segment From GLControl For Current Book AND Context Context • Select Amount From Doc Line Where Add Condition
• Comment Text
• Log Error: Log Error Text • Raise error: Error Description • Log warning: Warning Description • End Rule
• Log Debug Message: Log Debug Message • Argument1 and Argument2 is Available
• Lookup COA map name Using Account Account
• Get Book Amount From GLControl For Current Book AND Context Context • Get External Account From GLControl For Context Context
Workshop - Copy and Delete Posting Rules
When you modify posting rules, you can use existing posting rules as a template. You can delete a posting rule up until the point at which it is activated. This workshop demonstrates how to copy and delete a posting rule.
Copy a Posting Rule
1. In the tree view, navigate to and select AR Invoice > Revision: XXXOp - Draft > Rules > Book:Main Book > Posting Rules > Post Tax Amount.
In the revision title, XXX are your initials. 2. From the Actions menu, select Copy Rule. 3. From the Actions menu, select Paste Rule.
In the tree view, a Post Tax Amount_1 rule is added to the Posting Rules list. 4. Click Save.
Delete a Posting Rule
1. In the tree view, select AR Invoice > Revision: XXXOp - Draft > Rules > Book:Main Book > Posting Rules > Post Tax Amount_1.
2. Click Delete.
A Delete Confirmation message displays.
3. Click Yes to confirm you want to delete the record. 4. Click Save.
5. Exit GL Transaction Type Maintenance.
Multiple Books
A general ledger book provides a consistent view of the financials within a specific company. Use multiple books for financial reporting and analysis of the same business transactions in a variety of ways, including different charts of accounts by book, different reporting currencies, different methods of accounting, and multiple fiscal calendars.
When configured to do so, the posting engine can generate GL transactions in every book for every input business transaction. The GL transaction details depend on the different charts of accounts, currencies, methods of accounting, and calendars defined for each receiving book.
All GL transactions generate from a single business transaction and each one represents a different view of that business transaction. Each GL transaction has a reference to the original business transaction as well as the resulting GL transactions in other books.
Important Use of multiple books in a company requires posting engine revisions. You can manually enter a revision on every GL transaction type to which you want multi-book postings. This action requires account mapping or the entry of GL controls for each book you add. Another option you have is in Book
Maintenance. There, you can set up GL transaction mapping from your source book to a secondary book for multiple GL transaction types at the same time.
Examples of ways to modify and create GL transactions for multiple books:
• Apply Chart of Accounts (COA) mapping to the GL transaction type: A mapped COA uses the posting
hierarchy from the original COA's posting rules. You can use COA mapping to modify the posting process by making small changes to the map to reflect most posting process differences between receiving books. Mapping provides you with a better alternative for designing posting rules for simple cases.
• Apply posting rules to the additional book: You can revise the posting codes, amounts, accounts, functions,
Type Maintenance. It is common to copy rules from the main book and then adjust as necessary. Using this method, you must also set up the required GL controls for each book before you can post transactions that relate to the revised GL transaction type.
If neither posting rules or mapping is defined for a secondary book, automatic transactions will never be created against that book.
Important The GL multi-book transaction type (MultiGLJrn) includes the standard default set of posting rules for a single book. The single book is required to be linked to the master chart of accounts (COA) in order for the rules to work correctly. You can then use this default set of posting rules as a starting point to build on the rules for your book or for the COA mapping of other books.
For a sample rule, review the custom MultiGLJrn GL transaction type in the Demonstration Database's Epicor Education company.
Book Maintenance
Book Maintenance defines the fiscal books a specific company uses. A book defines the currency, fiscal calen dar, chart of accounts, and Retained Earnings account used to generate its financial statements.
A company can use multiple books to display the same financial information in multiple ways. When you implement the Epicor application, carefully consider the role each book plays in the financial management and reporting within a specific company. When a transaction is entered, its amounts can be applied to multiple books, reflecting the purpose for each book.
Each book can also have its own set of validation rules. These rules define error handling for journals posted to a specific book. By default, books ignore most posting errors. You can change the defaults so the book blocks and logs errors as needed.
Books are useful for recording transactions so they match the financial legal requirements for a specific country. Use Chart of Accounts Structure Maintenance to create a chart of accounts (COA) which matches the structure your country requires. You can use one book to post transactions in a specific currency for reporting, and then use another book for posting the same transactions in the base currency the company uses.
Example Use the Modified Accelerated Cost Recovery System (MACRS) to depreciate a physical asset for tax reporting. For financial reporting, the same asset is depreciated using straight-line depreciation. Each book displays its own depreciation results.
Example Leverage multiple books so your companies can value items differently in financial and statutory reports. An insurance company might use Generally Accepted Accounting Principles (GAAP) to value investments and other items for one report and use National Association of Insurance Commissioners guidelines for another book. State or provincial regulations can also impact reporting, so you may need to implement additional books.
Use Book Maintenance to define the following:
• Book Type - Books can record financial transactions or consolidate to other books. Standard books record
the financial activity of the company. Consolidation books mediate the transfer of consolidation journals between two standard books.
• Chart of Accounts (COA) - Each book can have a different COA, or several books can share the same COA.
The COA defines valid general ledger accounts, available dynamic segments, and balance maintenance for segments other than the natural account. (The natural account maintains continuous balances.) The book also determines the retained earnings account.
• Fiscal Calendar - The fiscal calendar determines valid apply dates for each business transaction. The Epicor
application maintains periodic balances for segments based on the fiscal calendar.
• Book Currency - The book currency can be used on financial reportsand in consolida tions. All journal amounts
post in the currency defined on the book. Books can store journals in additional transaction currencies, but will only post in the specified book currency.
• Error Handling for Journals - Use the Validations sheet to ensure all transactions are vali d. For example,
a validation rule can alert you when the Apply Date for a transaction falls within a closed fiscal period. When the posting process runs, the Epicor application blocks posting of invalid journals and continues to process the remaining journals in the batch. All error transactions display in the Review Journal.
• Rounding Tolerance Criteria - For each book, you can specify rounding tolerance criteria as well as an
account to which transactions will post currency differences.
• GL Transaction Mapping - Set up GL transaction mapping from your source (Main) book to a secondary
book. You determine the COA map and transactional currency to use as well as d etermine which GL transaction types are affected by this revision.
You can modify a book's details (description, type, COA, calendar, currency) until a j ournal posts to its COA. Once a posting process runs through the book, you can only change the book description.
Note You can also update the posting rules each book uses to record general ledger transactions. Update posting rules for each book within GL Transaction Type Maintenance. For information on how to create and update posting rules, review the Posting Engine Technical Reference Guide in Application Help. Menu Path
Navigate to this program from the Main Menu:
• Financial Management > General Ledger > Setup > Book • Financial Management > Multi-Site > Setup > Book
Menu Path
Navigate to this program through the Main Menu:
Menu Path: Financial Management > General Ledger > Setup > Book
Retained Earnings
Book Maintenance > Retained Earnings
The Retained Earnings sheet designates the standard account used for retained earnings for the book. The application continually updates the retained earnings account balance with postings to the COA's revenue and expense accounts. As a result, the balance sheet always reflects the current balance. At year-end closing, run the Transfer Balances process to transfer account balances to the next fiscal year.
Balance sheets always report the balance in the standard retained earnings account. You can further divide the reported retained earnings balance by the substitution of a segment in the retained earnings account for a corresponding segment in the income statement. The substitution allows the splitting of retained earnings by division, department, or other mandatory controlled account segment. Account masks designate the relationship between the split segment and the retained earning accounts that displays the balances.
Often, a book that uses segment substitution also uses self-balancing segments. Designation of a self-balancing segment in Self-Balancing Segment Maintenance enables the automatic posting of balancing journals within a segment. This ensures the book to which the journals post maintains a balanced set of records within the segment.
For example, a book uses a COA with a mandatory second segment that defines two divisions: LA and MP. The third segment is optional and defines cost centers. You use segment substitution to split the balance in the standard retained earnings account 3070. At year-end close, the following balances exist in COA revenue and expense accounts.
240 4010-MP-100
500 4010-MP-200
