Understanding the Voucher Posting and Payment Posting Processes

The Voucher Posting process creates accounting entries from vouchers. The system uses the accounting entry template and inheritance rules that you set up on the Accounting Entry Template and ChartField Inheritance pages to identify the offset accounts needed to create accounting entries. The entries include the expense distributions entered into the system, as well as additional entries for the payables offset, value-added tax (VAT) expense, nonprorated, nonmerchandise expenses, and closure expenses. These accounting entries are then available for generating general ledger journals, using the Journal Generator Application Engine process (FS_JGEN). Vouchers must be entered, approved, and posted before you can send voucher information to the general ledger.

The Payment Posting process creates accounting entries from payment-related transactions, such as system-created payments, manual payments, drafts, electronic file transfer (EFT) payments, ACH payments, and canceled payments. The Payment Posting process also creates realized gain or loss offsets when a transaction is entered in a different currency than the base currency and the rates have fluctuated between the invoice and payment dates. These accounting entries are then available to the Journal Generator process to pass to your general ledger.

There is a difference between running the Voucher Posting and Payment Posting processes and running the Journal Generator process. Before you can transfer a voucher or payment to the general ledger, it must be associated with accounts. The posting processes create all accounting lines. Voucher accounting lines are created based on the distribution lines from voucher entry. However, proration of nonmerchandise charges result in accounting lines that are different from what was actually entered in the distribution lines.

Here are examples of accounting lines that are created during the posting processes:

• Payables liability account.

• Discount earned.

• Discount lost.

• Late charge.

• Realized gains and losses.

• Use tax liability.

• VAT accounting entries.

The posting processes also assign interunit document sequencing numbers.

To improve system processing time, each posting program calls the InterUnit Processor to function only when the following scenarios exist:

Voucher Posting process:

• The general ledger unit is different between the voucher distribution level and the voucher header level.

• The balancing ChartField value is different between the expense (DST) and liability (APA) line under the summary control posting option method. (This does not apply to the detail-offset posting option; in that method, balance ChartFields are always inherited.)

Payment Posting process:

• The general ledger business unit is different between the liability (APA) and the cash (CAS/CAC) lines.

• The balancing ChartField value is different between the AP liability (APA) and cash (CAS/CAC) lines.

See Posting Method Definition.

If you have selected multibook accounting in the subsystem, the posting processes also post to the secondary ledgers in the default ledger group. If you set up multibook accounting using nontranslate ledgers, then the accounting entries are calculated from the transaction currency. If you are using translate ledgers for your multibook accounting, then the accounting entries are calculated from the base currency of the primary ledger.

After you run the posting processes, vouchers and payments remain in the PeopleSoft Payables subsystem. Run the Journal Generator process to distribute the accounting lines to the general ledger.

Voucher Posting Process

To run the voucher posting process:

1. Create vouchers using the online Voucher component (VCHR_EXPRESS) or Quick Invoice Entry component (VCHR_QUICK_PNL).

2. (Optional) If required, run the Document Tolerance Checking Application Engine process (FS_DOC_TOL) and Budget Processor Application Engine process (FS_BP).

3. (Optional) If required, run the Matching Application Engine process (AP_MATCH) and approve voucher.

4. Define a voucher posting request using the Voucher Posting Request page.

5. Run the Voucher Posting process using Process Scheduler.

6. Evaluate posting results using the Voucher Accounting Entries page.

Payment Posting Process

To run the payment posting process:

1. Create payments using the Pay Cycle Application Engine process (AP_APY2015), the Pay Cycle Manager page, Express Payments page, Create Manual Draft page, Regular Entry - Payments page (record a manual payment), or the Man Pay Worksheet (manual payment worksheet) page.

2. (Optional) Run the Voucher Posting process after running the Pay Cycle process.

   The Voucher Posting process is not required to be run prior to creating payments.

3. Define and verify a payment posting request using the Payment Posting Request page.

4. Run the Payment Posting process using PeopleSoft Process Scheduler.

5. Evaluate the results using the Voucher Accounting Entries page or Supplier Balance page.