Generating postings and journal entries
Prerequisites
Planon creates postings and journal entries for both financial commitments and accounting commitments. In order for the system to be able to generate journal entries, you must first do the following:
• define the financial year(s) for which you want to create journal entries.
• execute the Generate journal entries for contracts action to trigger generating journal entries for financial commitments. The Generate journal entries for contracts action is mandatory if a budget or capital project is linked to a non lease accounting contract line.
If the above prerequisites are met, you can view the generated postings and their related journal entries in the General ledger TSI.
Postings can be provisional (PRV) or final (FIN). Both the provisional and final postings are always linked to their corresponding commitments. Planon updates the provisional postings to final postings after you have performed a final amount closure.
When does Planon generate journal entries and the related postings?
Planon generates journal entries and their related postings when financial commitments are closed at trial closure or at a final closure.
• For contract lines with the Payment? field set to Yes (=the contract amount is to be paid), Planon creates :
◦ a PRV (provisional) posting. The posting changes to FIN (final) at final closure.
◦ two journal entries
• For contract lines with the Payment? field set to No (=the contract amount is to be received), Planon creates at trial closure:
◦ a PRV (provisional) posting. The posting changes to FIN (final) at final closure.
◦ two journal entries
 | Planon only creates journal entries when amounts are (trial) closed. This applies exclusively to contract lines that are not recorded on a budget. |