For clients using Unanet Financials, a default posting organization MUST be assigned for any of your legal entities. No posting processes can successfully process if this value is left blank.
The Default GL Posting Organization is set in the Organization that represents the Legal Entity. See the screenshot below, where the Organization has been designated as a Legal Entity by selecting"This organization is a legal entity" with a Default GL Posting Organization set to "STARK" (selected from the dropdown menu).
This designation is made on the Financials tab of the Organization. This allows for the posting processes to be successful.
The first screenshot below shows where the Default GL Posting Organization is set. While this is often the same organization as the legal entity, in larger organizations it may be advisable to set up a "balance sheet" organization that is hierarchically below the Legal Entity and identify this organization as the Default GL Posting Organization. Because you cannot limit an account to post to just the Legal entity (it selects all organizations underneath the legal entity as valid to post to), this allows you to set all balance sheet accounts to post to the one organization (see second screenshot below). This minimizes confusion when creating Financial entries in the system.
Navigate to Organizations > List > List tab>+Organization link > Financials tab.
For most organizations a Best Practice for account setup for balance sheet accounts would be to limit them to the one corporate organization to which they should be posted. The setup required would be to add an organization underneath the top organization that is meant for all balance sheet postings. Then when setting up any balance sheet account on the Organizations tab, limit posting for that account to that balance sheet specific organization. The resulting benefit is that the possibility for user error on Organization entry has been eliminated for charges to balance sheet accounts. See screenshot below.
- If a balance sheet organization is added, the Default GL Posting Organization of the legal entity organization should point to the balance sheet organization or inconsistent posting may occur. You may also want to reference the Accounts page in the Additional Information section below.
- If a balance sheet organization is added, please review the Default GL Posting Organization of the legal entity organization. When the Organization Source in the posting groups is set to "Legal Entity" and the Asset and Liability accounts are restricted to the balance sheet organization, the Default GL Posting Organization in the legal entity organization must point to the new balance sheet organization or inconsistent posting may occur.