Tabs3 can be configured to post journal entries based on how a payment was allocated to due amounts. For example some firms may have a separate income account in GLS for each timekeeper and cost type. Other firms may track income based on category. Each integration method can be accomplished using either one or two posting methods. Posting methods are selected using the By field, also referred to as the Primary posting method, and the Then field, referred to as the Secondary posting method.

Examples

The following examples include types of journal entries, which can be created when payments are allocated. For the following examples, Client 100.00 has $300 in fees and $75 in costs due. A payment for $375 is received and entered as a regular payment. All payment types are configured to use the same GLS journal. All configuration noted is in the GLS Integration Setup window.

Example 1: Posting methods for Payments Allocated to Fees and Payments Allocated to Cost are configured to integrate by Payment Tcode (and None as secondary posting method). The regular payment tcode is configured to post journal entries for fee allocations, with a debit account of 110.01 and a credit account of 410.01. The regular payment tcode is also configured for cost allocations, with a debit account of 110.01 and a credit account of 410.03.

 

Result: A debit transaction of $375 is created to 110.01, a credit transaction for $300 is made to 410.01, and a credit transaction for $75 is made to 410.03.

 

Example 2: Tabs3 is configured with a posting method for Payments Allocated to Fees of Working Timekeeper (and None as secondary posting method), and with a posting method for Payments Allocated to Costs of Client Category (and None as secondary posting method). The GLS Accounts Table for Payments Allocated to Fees has Timekeeper 1 configured to create debit journal entries to 110.01 and credit journal entries to 410.11, and All Other Timekeepers to create debit journal entries to 110.01 and credit journal entries to 410.10. For client 100.00, Timekeeper 1 has $100 due, while Timekeeper 2 has $200 due. The GLS Accounts Table for Payments Allocated to Costs has All Other Advances configured to create debit journal entries to 110.01 and credit journal entries to 410.02, and the $75 due for Client 100.00 are advances.

 

Result: A debit transaction of $375 is created to 110.01, a credit transaction for $75 is created to 410.02, a credit transaction for $200 is credited to 410.10, and a credit transaction for $100 is created to 410.11.

Note: If the Include Fee Compensation amounts in posting check box is selected for Fee Payment Integration, the amount of the journal entries will be adjusted by the amounts of any fee compensation rules defined for Client 100.00 that apply to this payment.

 

Example 3: Posting methods for both Payments Allocated to Fees and to Costs are configured to post by Client Category and then by Payment Tcode. Client 100.00 is assigned to category 25. For category 25, the regular payment tcode is configured to post journal entries for fee allocations, with a debit account of 110.01 and a credit account of 410.01. Likewise, for category 25, the regular payment tcode is configured for cost allocations, with a debit account of 110.01 and a credit account of 410.03.

 

Result: A debit transaction of $375 is created to 110.01, a credit transaction for $300 is made to 410.01, and a credit transaction for $75 is made to 410.03.

 

Unapplied Payments

The following example detail what journal entries will be created when payments are unapplied. For the following examples, Client 100.00 has no A/R. A payment for $300 is received and entered as a regular payment.

Example 4: The Post Unallocated Payments configuration on the Configure Payment Integration screen for GLS Integration Setup is configured to create debit entries to 110.01 and credit entries to 410.08.

 

Result: A debit journal entry for $300 is created to 110.01 and a credit transaction for $300 is created to 410.08. If later, the $200 in fees for Timekeeper 2 from Example 2 is added (and the GLS Account mappings are identical to that Example as well), when the statement including those fees is updated, adjusting journal entries will be created to transfer $200 from 410.08 to 410.10.

See also:   Overview of GLS Integration for Payments