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GL Posting Specifications - DBA Financials

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This topic provides posting specifications associated with the DBA Financials accounting configuration.  Specifications include the cost basis of the transaction, the cost classes involved (where applicable), the accounts that are debited and credited, and any additional information where relevant.  

 

Stock Adjustment

Stock Qty Increase

Basis

Trxn Cost

Debit

Inventory (Asset - 12000)

Credit

Adjustments – Inventory (Cost of Sales - 53100)

 

Stock Qty Decrease

Basis

Inventory Cost

Debit

Adjustments - Inventory (Cost of Sales - 53100)

Credit

Inventory (12000 - Asset)

 

Order Picking

Stock Item

Basis

Inventory Cost

Debit

Picked Not Invoiced (Asset - 12200)

Credit

Inventory (Asset - 12000)

Descriptor

Type

LABOR, MISC, SHIP

Posting

None

 

SO Invoice – Revenue

Line Item Sale

Debit

Accounts Receivable (Asset - 11000)

Credit

Sales – Products (Income – 40000 or Item Category Exception)

Line Item Tax

Debit

Accounts Receivable (Asset - 11000)


or, AR – Tax Portion (Asset - 11100)

Credit

Sales Tax Payable (Liability - 21100)

Shipping Descriptor / Freeform

Type

SHIP

Debit

Accounts Receivable (Asset - 11000)

Credit

Shipping Income (Income - 42000)

 

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The following postings occur when a deposit applied immediately after invoice:

Payment – Customer Deposit Applied

Debit

Customer Deposits (Liability - 23100)

Credit

Accounts Receivable (Asset - 11000)


or, AR – Tax Portion (Asset - 11100)

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The following postings occur when the sales order has a AR Payment Type of Credit Card:

Payment – Credit Card Terms – Non Tax Portion

Debit

Merchant Account – Credit Cards (Asset – 10500 or User-Defined)

Credit

Accounts Receivable (Asset - 11000)

 

Payment – Credit Card Terms – Tax Portion

Debit

Merchant Account – Credit Cards (Asset – 10500 or User-Defined)

Credit

Accounts Receivable (Asset - 11000)


or, AR – Tax Portion (Asset - 11100)

 

SO Invoice – Cost of Sales

Stock Item

Basis

Inventory Cost at time of Order Pick

Debit

Cost of Goods Sold (Cost of Sales – 50000 or Item Category Exception)

Credit

Picked Not Invoiced (Asset - 12200)

Descriptor

Type

LABOR

Basis

SO Line Est Cost

Debit

Cost of Goods Sold (Cost of Sales – 50000 or Item Category Exception)

Credit

Accrued Service Labor (Cost of Sales - 51100)

Descriptor

Type

MISC

Basis

SO Line Est Cost

Debit

Cost of Goods Sold (Cost of Sales – 50000 or Item Category Exception)

Credit

Accrued Misc Sales Cost (Cost of Sales - 52200)

Descriptor

Type

SHIP

Basis

SO Line Est Cost

Debit

Cost of Goods Sold (Cost of Sales – 50000 or Item Category Exception)

Credit

Shipping Cost (Income - 42100)

 

Job Issue

Stock Item

Basis

Inventory Cost

Debit

Work in Process (Asset - 12300)

Credit

Inventory (Asset - 12000)

Descriptor

Basis

Estimated Cost

Debit

Work in Process (Asset - 12300)

Credit

Absorbed Misc Job Cost (Cost of Sales - 56000)

 

Job Labor Entry

Labor & Setup

Basis

Work Center Labor/Setup Rate

Debit

Work in Process (Asset - 12300)

Credit

Absorbed Labor (Cost of Sales - 54000)

 

Mfg Overhead

Basis

Work Center Mfg Overhead Rate

Debit

Work in Process (Asset - 12300)

Credit

Absorbed Mfg Overhead (Cost of Sales - 57000)

 

Job Receipt

Basis

Job Actual Cost or Job Estimated Cost

Debit

Inventory (Asset - 12000)

Credit

Work in Process (Asset - 12300)

         

Job Close

Basis

Job Actual Costs - FINISHED to CLOSED

Output Costs > Input Costs

Debit

Work in Process (Asset - 12300)

Credit

Adjustments – WIP (Cost of Sales - 53400)

 

Output Costs < Input Costs

Debit

Adjustments – WIP (Cost of Sales - 53400)

Credit

Work in Process (Asset - 12300)

         

Job Reopen

GL Transaction

Basis        

Reversal of Previous Job Close Postings

 

Output Costs > Input Costs

Debit

Adjustments – WIP (Cost of Sales - 53400)

Credit

Work in Process (Asset - 12300)

 

Output Costs < Input Costs

Debit

Work in Process (Asset - 12300)

Credit

Adjustments – WIP (Cost of Sales - 53400)

 

PO Receipt

Stock Item

Basis

PO Receipt Cost

Debit

Inventory (Asset - 12000)

Credit

Received Not Invoiced (Liability - 20200)

 

Subcontract Freeform Line – with Subcon Job Value

Basis

PO Receipt Cost

Debit

Absorbed Subcontract Cost (Cost of Sales - 55000)

Credit

Received Not Invoiced (Liability - 20200)

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A Job Issue transaction occurs immediately following the PO receipt, posted as follows:  

Debit

Work in Process (Asset - 12300)

Credit

Absorbed Subcontract Cost (Cost of Sales - 55000)

Descriptor – Non-Shipping without Subcon Job Value

Type

MISC, LABOR

Basis

PO Receipt Cost

Debit

Misc Purchases (Expense – 61360 or specific Descriptor Exception)

Credit

Received Not Invoiced (Liability - 20200)

Descriptor – Non-Subcontract with Subcon Job Value

Type

MISC, LABOR, SHIP

Basis

PO Receipt Cost

Debit

Absorbed Misc Job Cost (Cost of Sales - 56000)

Credit

Received Not Invoiced (Liability - 20200)

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A Job Issue transaction occurs immediately following the PO receipt, posted as follows:  

Debit

Work in Process (Asset - 12300)

Credit

Absorbed Misc Job Cost (Cost of Sales - 56000)

         

Descriptor – Shipping without Subcon Job Value

Type

SHIP

Basis

PO Receipt Cost

Debit

PO Shipping Cost (Cost of Sales - 52500)

Credit

Received Not Invoiced (Liability - 20200)

 

PO Invoice

Matched Line Item

Basis

PO Receipt Cost

Debit

Received Not Invoiced (Liability - 20200)

Credit

Accounts Payable (Liability - 20000)

Line Item Tax

Basis

Matched PO Line Tax

Debit

Purchase Tax (Expense - 61480 or Liability)

Credit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

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At PO line close, the Received Not Invoiced account is reconciled as follows:

Line Item Price Variance – Supplier Price > PO Cost

Basis

Difference between Supplier Invoice Price and PO Receipt Cost

Debit

Adjustments – Recd Not Invoiced (Cost of Sales - 53300)

Credit

Received Not Invoiced (Liability - 20200)

Line Item Price Variance – Supplier Price < PO Cost

Debit

Received Not Invoiced (Liability - 20200)

Credit

Adjustments – Recd Not Invoiced (Cost of Sales - 53300)

 

SHIP Line Item

Basis

PO Invoice Unit Price

Debit

PO Shipping Cost (Cost of Sales - 52500)

Credit

Accounts Payable (Liability - 20000)

 

PO Line Reopen

Basis

Reversal of PO Invoice Price / PO Receipt Cost Variance

 

Supplier Price > PO Cost

Debit

Received Not Invoiced (Liability - 20200)

Credit

Adjustments – Recd Not Invoiced (Cost of Sales - 53300)

 

Supplier Price < PO Cost

Debit

Adjustments – Recd Not Invoiced (Cost of Sales - 53300)

Credit

Received Not Invoiced (Liability - 20200)

 

Customer Deposits

Debit

Bank Account (Asset - 10100 or User-Defined)


or, Merchant Account (Asset - 10500 or User-Defined)

Credit

Customer Deposits (Liability - 23100)

 

Customer Payment

Customer Invoice – Non-Tax Portion

Debit

Bank Account (Asset - 10100 or User-Defined)


or, Merchant Account (Asset - 10500 or User-Defined)

Credit

Accounts Receivable (Asset - 11000)

Customer Invoice – Tax Portion

Debit

Bank Account (Asset - 10100 or User-Defined)


or, Merchant Account (Asset - 10500 or User-Defined)

Credit

Accounts Receivable (Asset - 11000)


or, AR – Tax Portion (Asset - 11100)

 

Customer Invoice – Discount Amount

Debit

AR Discounts Taken (Income - 43200)

Credit

Accounts Receivable (Asset - 11000)

 

Customer Invoice – Customer Deposit Applied

Debit

Customer Deposits (Liability - 23100)

Credit

Accounts Receivable (Asset - 11000)


or, AR – Tax Portion (Asset - 11100)

 

Supplier Invoice

Non-Tax Portion

Debit

Expense Account (Expense - Selected)

Credit

Accounts Payable (Liability - 20000)

 

Tax Portion

Debit

Purchase Tax (Expense - 61480 or Liability)

Credit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

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The following postings occur for payments made from Supplier Invoice screen:        

Payment – Non Credit Card – Non-Tax Portion

Debit

Accounts Payable (Liability - 20000)

Credit

Bank Account (Asset - 10100 or User-Defined)

 

Payment – Non Credit Card – Tax Portion

Debit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

Credit

Bank Account (Asset - 10100 or User-Defined)

         

Payment – Credit Card Terms – Non-Tax Portion

Debit

Accounts Payable (Liability - 20000)

Credit

Credit Card Account (Liability - 20500 or User-Defined)

 

Payment – Credit Card Terms – Tax Portion

Debit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

Credit

Credit Card Account (Liability - 20500 or User-Defined)

 

Supplier Payment

Non-Tax Portion

Debit

Accounts Payable (Liability - 20000)

Credit

Bank Account (Asset - 10100 or User-Defined)


or, Credit Card Account (Liability - 20500 or User-Defined)

Tax Portion

Debit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

Credit

Bank Account (Asset - 10100 or User-Defined)


or, Credit Card Account (Liability - 20500 or User-Defined)

Discount Amount

Debit

Accounts Payable (Liability - 20000)

Credit

AP Discounts Taken (Cost of Sales - 52600)

 

Void Supplier Payment

Non-Tax Portion

Debit

Bank Account (Asset - 10100 or User-Defined)


or, Credit Card Account (Liability - 20500 or User-Defined)

Credit

Accounts Payable (Liability - 20000)

Tax Portion

Debit

Bank Account (Asset - 10100 or User-Defined)


or, Credit Card Account (Liability - 20500 or User-Defined)

Credit

Accounts Payable (Liability - 20000)


or, AP – Tax Portion (Liability - 20100)

Discount Amount

Debit

AP Discounts Taken (Cost of Sales - 52600)

Credit

Accounts Payable (Liability - 20000)

 

Misc Credit Card Charge

Debit

Expense Account (Expense - Selected)

Credit

Credit Card Account (Liability - 20500 or User-Defined)

 

Credit Card Payment

Invoice Creation

Debit

Credit Card Account (Liability - 20500 or User-Defined)

Credit

Accounts Payable (Liability - 20000)

Payment

Debit

Accounts Payable (Liability - 20000)

Credit

Bank Account (Asset - 10100 or User-Defined)

 

Bank Account Transfer

Journal Entry

Debit

To Bank Account (Asset - Selected)

Credit

From Bank Account (Asset - Selected)

 

Check Payment – Invoice Creation

Debit

To Bank Account (Asset – Selected)

Credit

Accounts Payable (Liability - 20000)

 

Check Payment – Payment

Debit

Accounts Payable (Liability - 20000)

Credit

From Bank Account (Asset - Selected)

 

Merchant Account Transfer

Net Transfer

Debit

Bank Account (Asset - 10100 or User-Defined)

Credit

Merchant Account (Asset - 10500 or User-Defined)

 

Merchant Fees

Debit

Merchant Account Fees (Cost of Sales -52100)

Credit

Merchant Account (Asset - 10500 or User-Defined)

 

Account Reconciliation

Interest Income

Debit

Bank Account (Asset - 10100 or User-Defined)

Credit

Interest Income (Income - 43000)

 

Bank Charges

Debit

Bank Charges (Expense - 61040)

Credit

Bank Account (Asset - 10100 or User-Defined)

 

Merchant Fees

Debit

Merchant Account Fees (Cost of Sales -52100)

Credit

Bank Account (Asset - 10100 or User-Defined)

 

Credit Card Fees

Debit

Credit Card Fees (Expense - 61100)

Credit

Credit Card Account (Liability - 20500 or User-Defined)