Provisional posting on Sage 300 cloud

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Company creates provisional entries to generate the period end or year-end adjustment entries for those expenses which is incurred but not paid. This entries is due during the month. Let us explain you the example of the situation when company creates the Provision posting.

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There are lots of transaction entries company has been made as per month wise e.g. rent, Salary, period-end or year-end adjustments entries. For example, company has been paid Salary or rent for every month in which some companies has been paid previous month Salary or rent to next month. It means March month salary has been paid in April month. So when company closing their books of account on 31st march they have not accounted March month expenses as it is not paid in March month which is paid in April month.

So in order to match the transaction entries of the month, the company creates the provisional entries to show accounting effect for Salary or rent transactions entries incurred in March month but not paid.

Here the below accounting effect which is generated in March month:

Salary A/c            Dr.

Rental expenses A/c      Dr.

To Provision for account payable (AP) A/c            Cr.

Here the below steps to provide you the details for generate the Provision posting on Sage 300 cloud. :

  • At the initial stage, user need to enable the option for Provisional posting which option present is under Menu : General Ledger >>  G/L Setup >> Options. 
    • Once above options enabled, then user can use the provision posting option for new GL batches or existing GL batches. User can see all the lists of the batches on the below screen.

    Screen Location: General Ledger > G/L Transactions > Batch List 

    Before posting of Journal batch, user need to set “Yes” the “ready To Point” option as it is standard process of Sage 300 which user give permission to the journal entry for posting. 

    Once provision posting has been done, the Status column displayed the status “Provisional Posted” as this batch is posted but it is temporary so that user can edit again and post it either provisionally or permanently.

    One more option is present in Sage 300 by using user can able to do the provision posting with using range or all batches filter.

    Screen location:  General Ledger > G/L Transactions > Post Batches 

    The Provisional postings are the postings which is created in a situation when you are doing the period-end or year-end adjustments in which you may want to amendment and want to recall again for permanent posting.

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