Introduction - Set up and assign specific posting groups
Companies use posting groups to create links between accounts in the different application areas to the G/L accounts in the general ledger application area. When you record and post sales, purchases, and other transactions where a specific G/L account is not directly specified, posting groups provide the mapping to the correct accounts. Therefore, you must set up the chart of accounts before setting up posting groups.
Set up and assign specific posting groups
The main purpose of specific posting groups is to identify the balance sheet account for each subsidiary or supporting ledger.
For example, the total outstanding accounts receivable balance of all customers must correspond to the total balance of the accounts receivable accounts in the balance sheet.
Generally, these balance sheet accounts are set up to not allow direct posting. The only postings that can be done are through the supporting ledger, avoiding differences between the total balance on the supporting ledger side and the general ledger.
The following table provides descriptions of specific posting groups and where they are assigned to.
| Specific posting group | Description |
|---|---|
| Customer posting group | Maps the accounts receivable account, payment discount accounts, invoice and application rounding accounts, and interest and fee accounts that relate to customers. |
| Vendor posting group | Maps the accounts payable account, payment discount accounts, invoice and application rounding accounts, and interest and fee accounts that relate to vendors. |
| Inventory posting group / Inventory posting setup | Inventory posting groups specify the type of inventory and are then combined with location codes on the Inventory Posting Setup page. Each combination is then mapped to the inventory accounts, WIP account, and other variance accounts that relate to inventory in the chart of accounts. These combinations also provide a good way to organize your inventory so you can separate items by their posting group when you generate reports. |
| Bank account posting group | Maps a bank account to a bank G/L account. |
| Fixed Assets posting group | Defines accounts for different types of expenses and costs, such as acquisition costs, accumulated depreciation amounts, acquisition costs on disposal, accumulated depreciation on disposal, gains on disposal, losses on disposal, maintenance expenses, and depreciation expenses. |
| Job posting groups | Specifies the accounts to which transactions involving jobs are posted. |
To set up a customer posting group, follow these steps:
Select the Search for Page icon in the top-right corner of the page, enter customer posting groups, and select the related link to open the Customer Posting Groups page.
Select Show All Accounts to display all the available accounts.
Select New.
In the Code field, type a unique identifier.
In each relevant account field, enter the G/L accounts that are used to post transactions for:
Receivables
Service charges
Payment discounts
Additional fees
Interest
Invoice rounding
Payment tolerances
Close the Customer Posting Groups page.
To assign a customer posting group, follow these steps:
Select the Search for Page icon in the top-right corner of the page, enter customers, and select the related link.
Locate the customer and open the customer card.
Expand the Invoicing FastTab.
On the Invoicing FastTab, in the Customer Posting Group field, enter the appropriate posting group.
When customer-related transactions such as orders, invoices, credit memos, and payments are posted, Business Central uses the customer posting group to locate and post the specified accounts.
The process of setting up vendor posting groups is similar to setting up customer posting groups.