G/L Period Processing (P/A)

Owned by Stephen Juliano (Unlicensed)
Last updated: Feb 03, 2022 by Colleen Juliano
3 min read

Overview

Accrue Unbilled Charges

The Accrue Unbilled charges screen allows you to accrue Work In Process (WIP) costs of jobs for incremental revenue on large projects. After all billing for the current period has been posted you can Accrue Unbilled Charges to debit the unbilled charges and expenses while crediting the revenue for the month being closed. You must reverse the accrual in the following period. This step should be part of your month end close process. 

TRX will automatically populate the current period and year from your G/L periods setup. Check the "Accrue Nonbillable Projects" checkbox if you wish to include same in the accrual process. When you are ready press the "Accrue Charges" button. You will have an opportunity to print a report showing the charges that will be accrued before processing. 

Reverse Accruals

The Reverse Accruals screen allows you to reverse the accruals processed in the Accrue
Unbilled Charges screen. Accruals should be reversed the month following their entry. 

TRX will automatically populate the current period and year from your G/L periods setup. When you are ready press the "Reverse Accruals" button. 

Post PJ to GL

The Post P/J to GL screen is used to transfer information from the Project Accounting module to the General Ledger.

  • Start/End Date – Manually enter a start/end date for transactions to post or select a date period from the drop down menu and the Start/End Date will change based on the date period chosen. You must use a Start/End date that is in the same GL period.

  • G/L Post Date - Will default to the current date. The selected date must be in an open G/L period.

  • Sort & Sub-total By – Choose an option to sort the report by

  • Source & Document

  • General Ledger Account Number

When you are ready click the "Post Transactions" button. TRX will generate the "Project Account Posting to General Ledger" report for you to print if you wish. You will be given the choice to process the transactions after exiting the report. 

Reprint GL Posting

If you wish to reprint a copy of the Project Accounting Posting to General Ledger report you can do so here. 

Enter the date range that you want to look for posted transactions in or enter the batch number from the original posting if available. Press the printer toolbar button or F10 key to print the report.Â