Step 4 - Entering comparative postings - Charitable Companies tutorial (ICHA)

1. Select Posting | New, the COHR01 screen displays.

2. Complete the details regarding the posting file entry. Enter a description of Trial Balance for 31 March 2016.

3. Leave the  Currency set to UK Pound - £

4. Click the magnifying glass next to the Account period end date field to display the Insert Accounting Period screen. Enter the New year-end date 310316. Click OK.  

5. The Please Choose an Accounting Period screen displays with the Accounting Period 31/03/2016 and Period Type Annual, click OK. Accounts Production makes this the date for the posting entry.

6. Click the magnifying glass next to the Previous account period end date field, then select Enter Date, click Add.

7. Enter 310315, click OK, highlight 31 March 2015 and OK.

8. Click OK to go into the Postings option. The Specify Posting Batch screen displays.

Complete the details as shown below:

The default displayed values can be accepted for all the other fields.

When this screen is complete click OK to display the Posting screen where individual postings are made.

2016 Trial Balance

The following is the trial balance as at 31 March 2016.

To select a fund click the magnifying glass and select from the list or type the Fund id (GEN or PAR).

Where Activities are required click the magnifying glass and select from the list or type the Activity id (for example, MISC and TRAV).

In this Tutorial only one Grant type LOTTERY has been created, Accounts Production uses this as a default entry.  Where multiple Grants exist click the magnifying glass and select from the list or type the Grant id.

• As each fund is treated as an individual trial balance each fund need to balance.  There are checks within the system when closing the posting screen and when running a report to ensure the funds balance.

Fund Balances

When the postings are completed, select the Fund Balances button on the tool bar to check each Fund balances.

If a mistake has been made, either:

• Cancel the incorrect posting by selecting Cancel posting. IRISPTP Accounts Production asks for the number of the posting to be cancelled. The default number given is that of the last posting made.
  
• Double-click on the posting to amend it. If amended the original posting is cancelled and a new posting made with the corrected details. This is done to preserve the audit trail.

If a mistake has been made, but cannot immediately see where it has occurred continue posting and then go to the guide on how to review and then cancel postings

If the trial balance is correct the next section can be skipped and go on to Entering current year postings. However, if an error is on future postings, remember to refer back to be guided through how to make a correction.

Once the posting entry is correct click Close to leave the posting entry.

Reviewing and cancelling postings

In the Posting screen select Reports | List postings (on screen).

List postings

To list all postings simply click OK.

To display from a particular posting onwards alter the from field as required.

The scroll bar can be used to move around the postings list.

Once the postings have been listed they can be changed or cancelled.

Click Close to display the postings screen again.

Change

This option allows postings to be amended, the narrative, date, work reference, fund, activity or grant can be changed. These items can be amended on either just a single posting or on a range.

List the postings on the screen by going to:

1. Reports | List postings (on screen) click OK to list all of the postings.

2. Use the scroll bar and the mouse to highlight the posting to be amended and then click Change.

3. The From and To fields on the screen which appears are filled with the number of the highlighted posting as default. These can be overwritten so that a whole range of postings is amended at once if required, once the postings have been selected, click Change.

4. Enter the new narrative or date and click OK (if a range of postings were chosen, all the postings would reflect the changes made).

The posting list will be displayed again.

If a single posting is to be amended, for example the incorrect account number had been selected and the posting had been posted, this can be done in the normal posting screen. Highlight the postings in the posting screen, with the mouse, right-click and select Amend posting, amend any of the items that need amending.

Cancel

This option allows postings to be cancelled where the amount or account number have been entered incorrectly or the wrong document type has been used.

1. List the postings on the screen by going to Reports | List postings (on screen) click OK and list all the postings.

2. Use the scroll bar and the mouse to highlight the posting to be cancelled and then click Cancel .

3. The From and To fields on the panel are filled with the number of the highlighted posting as default. These can be overwritten so that a whole range of postings is cancelled at once if required, once the postings have been selected, click Change.

4. Click OK to cancel the posting (if a range of postings were chosen, all the postings selected would be cancelled).

5. Click OK to continue once the posting has been cancelled. The posting list is displayed again.

The highlighted posting now has an ‘X’ next to it to indicate it has been cancelled.

Use the scroll bar to move to the end of the postings list. A new posting has been created which cancels the original posting. It has a ‘C’ next to it to indicate it is a cancelling posting.

If a single postings is to be cancelled, this can be done in the normal posting screen.

1. Highlight the posting and then with the mouse, right-click and select Cancel posting. A box displays asking you to choose the range of posting numbers from and to, that need to be cancelled, fill in this box as appropriate and click OK to cancel the posting.

2. Click Close to go back to the Posting screen.