Invoice and Payment Posting

Posting invoices ensures that the transaction has been recorded in the Finance general ledger of the company. If the organization operates on a cash basis or on an accrual basis, the invoices and payments can be posted at any given time. Whenever invoices are posted, accounts receivable and sales-related ledger entries are created in the system. Similarly, when payments are posted, payment-related debit and credit ledger entries are created in the system automatically. One must ensure that all invoices are posted with a date for the current year to ensure the accounts receivable are created for the correct period of the year.

Posting Invoices can be done in two methods:

1. From Record Level

• Navigate to the Order Management app >Sales Order tab.
• Select the sales order whose invoice must be posted.
• On the related tab, click on the invoice number to open the invoice record.
• Click the “Edit” button and select the “Posted” checkbox.
• Click the “Save” button to apply the changes. Upon saving the record, a finance general ledger entry is created for accounts receivable and sales accounts.

2. From Accounts Receivable

Navigate to the Finance Management app >Accounts Receivable tab.

Navigate to the Invoices tab, select the invoice which must be posted.

Once we select the invoice to post, click on the dropdown button to either post/un-post the invoice.

Posting Payments can be done in two methods:

1. Record Level

• Navigate to the Order Management app > Sales Order tab.
• Select the sales order whose payments must be posted.
• On the related tab, click on the payment number to open the payment record.

• Click the “Edit” button and select the “Posted” checkbox.
• 
• Click the “Save” button to apply the changes. Upon saving the record, credit and debit entries are automatically created in the system for the posted payment.

2. From Accounts Receivable

• Navigate to the Finance Management app >Accounts Receivable tab.
• Navigate to the Payments tab, select the payment which must be posted.

Once we select the payment to post, click on the dropdown button to either post/un-post the payment.

Posting Supplier Invoices:

• Navigate to the Order Management app > Purchase Order tab.
• Select the purchase order whose supplier invoice must be posted.
• On the related tab, click on the purchase/supplier invoice to open the invoice record.
• Click the “Edit” button and select the “Posted” checkbox.
• 
• Click the “Save” button to apply the changes. Upon saving the record, a finance general ledger entry is created for accounts payable and asset accounts.

Posting Supplier Payments:

• Navigate to the Order Management app > Purchase Order tab.
• Select the purchase order whose payments must be posted.
• On the related tab, click on the supplier payment number to open the supplier payment record.

• Click the “Edit” button and select the “Posted” checkbox.

• Click the “Save” button to apply the changes. Upon saving the record, credit and debit entries are automatically created in the system for the posted payment.