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How to create a GL posting for an Internal Charge Type

This guide provides steps to create a General Ledger posting for an Internal Charge Type to correctly allocate and reflect internal charges.

Step by Step Guide:

1. Navigate to ACCOUNTING > General Ledger > General Ledger Accounts.

2. Click on Posting GL Accounts.

3. Click the CREATE A NEW POSTING TO GL ACCOUNT.

4. Enter the following information.

Posting Criteria

  • Posting Type- Select Internal Charge Types.
  • Office- Select an office (only if this posting relates to a single office.
  • Internal Charge Type- Select an internal charge typ.

5. Enter the following information.

Revenue & Expense Accounts

  • Internal Charge Revenue Account- Revenue related to internal charges (e.g., recoveries) for the selected internal charge types. For example, the amount on a client invoice that is an internal (revenue) charge type (exclusive of tax, markup, or service fee) is credited to this account, where the invoiced line's internal charge type matches this posting record.

Sales /COGS Accounts

  • WIP Supplier Cost Acct- Cost of goods sold amounts for the selected internal charge type. For example, A client invoice is raised to pass on a billable supplier cost to the client. The amount invoiced is debited to this account, where the invoiced line’s internal charge type matches.
  • WIP Client Invoice Acct- Cost of goods sold amounts for the selected internal charge type. For example, A client invoice is raised to pass on a billable supplier cost to the client. The amount invoiced is credited to this account, where the invoiced line’s internal charge type matches this posting record.

6. Click SAVE.