Posting Consolidation Journals

You can post a Consolidation journal after it is approved. You can post it after you submit it and it is approved, or you can post it later by selecting it from the list of available journals.

You can post journals one a time or in batches. You must have the journal period open before you can post, and have access to the security classes of every entity for the detail lines, and have Write access to every dimension member selected for each line.

If the last journal action was Approve, the Approved user cannot post the journal. However, any other user can post the journal, whether they are the Completed/Submitted user, provided they have the appropriate roles and access. After it is posted, a notification email is sent to the approver, if email notifications are enabled.

If Consolidation Journal Workflow is enabled, the journal must be Cmpleted/Submitted and Approved prior to posting the journal.

Note: If you do not have the proper access to a journal, when you try to post the journal, you may receive an error message that you are not authorized to perform this task.

When you post a journal, the system stores the adjustment value in the specified adjustment member for Data Source, View, and Currency.

If multiple journals are posted to the Entity Input member for the same account, the results are cumulative. The total from the current journal is added to or subtracted from the existing total in Entity Input. The aggregation is done based on Account types.

The account balances are then recalculated so that the database reflects the adjustments. The journal status changes to Posted, and you can view the adjustment in a data grid.

When you post an Auto-Reversing journal, Financial Consolidation and Close automatically creates a journal (called an auto-reversal journal) to reverse those adjustments for the next period. You post this Approved journal for the reversal to take effect.

If a journal with the same name exists in the next period, Financial Consolidation and Close will not post the Auto-Reversing journal. You must delete the journal in the next period, or rename the auto-reversing journal in the current period.

For journals to be considered in Opening Balance Ownership Change (OBOC) adjustments, the adjustment must be done at a Level Zero entity. When you post journals to a Parent entity, they are not considered in Opening Balance Ownership Change adjustments.

When you post multiple journals, they are processed in the background as a job, and a message displays "Job submitted successfully". Click OK, then navigate to the Job Console to see the job status. Click on the job name (Post Journal) to view the Job Details. If one journal in the set is invalid to be posted, an error will display for the invalid journal and the Post job will fail without posting any of the journals.

On the Manage Journals page, you need to manually refresh the page to see the latest status.

To post Consolidation journals:

  1. On the Home page, click Consolidation Journals.
  2. From the list of journals, select the journals to post.

    You can also post a journal from the Journal Details page.

    You cannot post previously posted journals.

  3. Click the Actions icon Actions icon and then select Post.
  4. Optional: Enter a comment in Comments.
  5. Optional: To attach a document for more detail supporting the action performed, click Browse to browse to the location of the file. You can attach a document such as a text, Word or Excel file, PDF, audio, video or image file.
    Note: You can load a maximum of three attachments per journal action. The maximum size limit per attachment is 2 GB.

    To delete an attachment, click Delete (X) next to the file name.

  6. Click Post.