Posting Rules and Posting Rule Sets
Revenue Management uses posting rules to define the journal entries, or transactions, that are posted to an AR ledger. Billing activity in GTV is processed into charge info records during the Collector process. Posting rules are created using fields found in charge info records. For example, a payment posting rule would require you to enter a Gotransverse payment charge category ("PMT-Cash"), and a payment type (payment, payment cancel, payment refund, etc.), and the rule would process a balanced journal entry for all charge info records that meet those criteria using the GL accounts selected for the posting rule. As such, a Gotransverse tenant with five different charge categories would require five different posting rules for each payment type.
Once the individual posting rules are configured, a posting rule set is created and those individual rules are assigned to the posting rule set. The posting rule set, rather than individual rules, will then be assigned to the AR ledger, and any transactions created by a rule in an AR ledger's posting rule set will post to that AR ledger.
You will complete the following steps to create posting rules that can be assigned to an AR ledger:
- Create GL accounts to use in the posting rule.
- Create chart of accounts.
- Create posting rules.
- Create an active posting rule set and assign posting rules to it.
Note: It is required that, when assigning a posting rule set to an AR ledger, all the GL accounts found in the individual posting rules in the set must be included in the chart of accounts assigned to the same AR ledger. Best practice is to create the chart of accounts first and use that as a guide when creating posting rules.
Creating a Posting Rule and Posting Rule Sets
- Select Revenue Management from the Gotransverse action menu .
- Select Setup in the left pane.
- Select the Posting Rules tab.
- Select Create Posting Rules from the Setup action menu.
- Select the Trigger for the posting rule from the drop-down menu. This selection will determine the available rule templates.
- Select the desired Posting Rule Template from the drop-down menu.
- Select Next.
- Add one or more rule names, status, and description (if desired) for as many rules that need to be defined for the rule being configured. Add additional rules from this template by clicking Add New Posting Rule.
- Click the Configure icon to configure the parameters for each rule. Parameters available are based on the posting rule template selected (e.g., payment type charge category, currency, debit and credit accounts, description, and status for the payment rule discussed above). If more than one new posting rule was added, you can navigate between the posting rules using the left and right arrows in the bottom left corner.
- Select OK to close the Posting Rule Configuration window.
- Click Create Rule to finalize all rules configured. Once the rules have been created, please note the following details will apply:
- The user can edit the name, description, currency conversion date type, and non-GL account parameters of the posting rule in Draft or Active status only.
- The status may be changed to Draft or Cancelled, and you may delete the rule if the rule is not assigned to a posting rule set.
- The status may be changed to Active or Suspended without restriction.
- To assign a GL account to a posting rule, the GL account must be a posting account and have an active status. If a posting rule is being added to an active posting rule set and that posting rule set is assigned to an active AR ledger, then the GL account must appear on the chart of accounts assigned to that same AR ledger
- Only posting rules in Active status may be added to a posting rule set.
- Once all posting rules needed for an AR ledger are created, select Create Posting Rule Set from the Setup action menu.
- Enter the Rule Set Name, Status, and Description (if desired). Select posting rules to add to the posting rule set by selecting from the drop-down menu or browsing. Draft rules cannot be added to a posting rule set. An active posting rule set can still be edited later to include more posting rules or exclude posting rules.
- Select Create to save your posting rule set.