Posting Liabilities

The Post Liabilities process creates the accounting lines for expense transactions that are used to generate journals for posting to PeopleSoft General Ledger. This process uses defaults defined during implementation to generate balanced accounting entries for the appropriate accounting period in the general ledger. The Post Liabilities and Unpost Expense Report processes use the EXACCRUAL Journal Template defined in the Expenses Definition – Business Unit 2 tab for the PeopleSoft Expenses business unit definition. To post liabilities to the general ledger, navigate to the Expense Processes page and select the Post Liabilities check box. The Application Engine process populates the EX_ACCTG_LINE table with data staged for posting to the general ledger.

When posting expense report liabilities, the system debits actual expenses to the ChartFields you designate on the Expense Report - Accounting Detail page. The expense system then generates an offsetting credit to the expenses accrual account that you specified in the accounting entry template.

For example, here are the results if you post airfare and hotel expenses:

When posting liabilities for a cash advance paid from a cash advance source that generates a payment, the system debits the advance to the employee advance account and credits the expenses accrual account. You specify both accounts in the accounting entry template.

For example, here are the results if you post a cash advance that generates a payment:

When posting liabilities for a cash advance paid from a cash advance source that does not generate a payment, the system debits the advance to the Employee Advances account designated in the accounting entry template. The expense system then creates an offsetting credit to the ChartFields that were selected when the cash advance source was created.

For example, here are the results if you post a cash advance that does not generate a payment:

The Post Liabilities process generates new accounting entries when an employee pays an outstanding cash advance balance: