A General Ledger batch is a group of journal entries, each of which contains at least two transaction details, one for the debit amount and one for the credit amount.
Journal entries do not affect G/L account balances until you post the batches.
While entering General Ledger, you can also:
- Create new batches.
- Add journal entries to existing batches.
- Change and delete journal entries.
- View and reverse posted entries.
- Add intercompany transactions if this is an ICT (Intercompany Transactions) database.
If you can see on General Ledger screen there are various fields to enter details like Entry number, Date, Entry Number, Batch, Description, Year/Period etc
Today in this blog we will discuss about posting date for the journal entry which is not present on Sage Version 6.0 and lower version but with the higher version and upgradation, some features has been added on the General Ledger screen.
Refer below the screen with new features Posting Date
Specify the posting date for the journal entry. The complete journal entry can have a single date associated with it, or you can enter a different date on each detail line.
The posting date does not determine the period to which the details will be posted. It is for information only. (The period is set by the Year/Period field.)
When you specify a posting date, the corresponding year/period is entered automatically in the Year/Period field. However, changing the year/period does not change the posting date.
The date assigned to details consolidated during posting is the last date of the fiscal period to which they were posted.