13-2 Posting Daily or Periodic Balances
Posting Daily or Periodic Balances
Table of Contents
Posting Daily or Periodic Balances 2
Posting Daily or Periodic Balances
Description
To populate the General Ledger package with the data created from the WDLS Finance module, the accountant may either manually enter the necessary data via journal entry or electronically interface the packages. The manual method will require time each reporting period to bring the data into the General Ledger. The manual method may also impose errors within the Ledger. The electronic interface will alleviate both the time requirements and errors of the manual posting.
WDLS may be programmed to directly interface with the General Ledger on a daily or other periodic basis. An electronic data interface may be created that will populate the General Ledger with the balance or total of transactions for a specific period.
In other words, the data may be sent and posted to the General Ledger as a total of the various types of revenue, total cash received, etc. on a daily or other periodic basis determined by the user.