Media Accounting
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      How to create a Media Office Default GL posting account

      This posting type is used when different offices use a unique GL Chart of Accounts or when default postings for an office need to go to different accounts than the standard ones.

      Steps:

      1. Navigate to Media > Media Accounting > Media GL Posting Accounts.
      2. Click CREATE A NEW MEDIA GL POSTING ACCOUNT. 
      3. Select Office Default from the Posting Type field. 
      4. Select the Office. 
      5. Enter or select the applicable GL accounts to be used for this office.
      6. Click SAVE or SAVE & CLOSE. 

      Medium KB -Jul-12-2023-12-56-35-2463-PM

      Account Description
      *Media WIP Account

      Media Work In Progress control account.

      For example:

      The tax-exclusive amount of a media supplier invoice is debited to this account.

      Used for the following transaction types:

      • Supplier Invoices (Media lines)
      • Client Media Invoices
      *Media Commission Revenue Account

      Revenue related to Media Commissions. 

      For example: 

      The amount of commission on a client media invoice line is credited to this account unless there is a specific posting type based on the media type.

      Used for the following transaction types:

      • Client Media Invoices
      *Media Service Fee Revenue Account

      Revenue related to a service fee (e.g., a percentage-based fee added to the line).

      For example: 

      The amount of service fee on a client media invoice line is credited to this account unless there is a specific posting type based on the media type.

      Used for the following transaction types:

      • Client Media Invoices
      *Media Billing Account

      Billings on Client Media Invoices. 

      For example: 

      The tax-exclusive total amount of a client media invoice.

      Used for the following transaction types:

      •  Client Media Invoices

      Note – Billing and Billing Control journal entries generated have no impact on the net profit of the agency. They are postings created for informational purposes only. The total amount of billings can be reported on profit and loss statements.

      When transactions related to this specific office are posted, the system will default to using this office's designated posting accounts. This takes precedence over the agency's overarching default posting accounts that are defined in the system.

      To learn more about the Default Media GL Posting Accounts, click here.