Posting Payments

The Posting Payments process generates the accounting entries to cash accounts to record payments and updates the expense transaction status from staged (STG) to paid (PD) status. These accounting entries are then used to generate journals for the general ledger. To post payments, navigate to the Expense Processes page and select the Post Payments check box. The Application Engine process populates the EX_ACCTG_LINE table with data staged for posting to the general ledger.

In posting expense payments, the system credits the cash account you indicate in an external account when you define banks. The system also generates an offsetting debit to the expenses accrual account that you specified in the accounting entry template.

For example, here are the results if you post expense payments: