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- Royalty Accounting
- Process
- Journal posting
Journal posting
Posting turns an approved document into book effects. The Ledger Controller confirms the intended date belongs to an open period, then follows the operation through saved journal lines. The source document and journal are marked Posted only after the stored debit and credit values balance.
Step by step
-
Select approved source Ledger Controller
Read the exact document revision and its account allocations.
- Establish accepted revision
- Updates Accounting documents, Document lines
-
Check period Ledger Controller
Confirm the posting date falls inside an Open period for its organization.
- Establish date and book scope
- Updates Accounting periods, Organizations
-
Build journal Ledger Controller
Use a stable operation key to write the entry and its debit and credit lines.
- Persist balanced effects
- Updates Journal entries, Journal lines, Ledger accounts
-
Prove balance Ledger Controller
Read back the persisted lines and compare total debits with total credits.
- Compare saved debit and credit totals
- Updates Journal lines, Journal entries
-
Record posting Ledger Controller
Mark journal and document Posted with the actual posting date and time.
- Preserve actual posted result
- Updates Journal entries, Accounting documents, Operation receipts
Who does what
Roles and permissions- Ledger Controller
- Checks the period and journal.
- Independent Reviewer
- Owns the preceding document decision.
- Finance Viewer
- Reads permitted posted results.
Set up Royalty Accounting your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.