What's New - January 15, 2024

Prevent postings to header department and header GL accounts, Media Cost Reconciliation report update

Prevent postings to the Header department

What is it?

A new accounting option Allow posting to Header Departments is now available in Setup Files.  If this option is unchecked, the system will exclude header departments from the list when dissecting transactions by department.

Why does it matter?

For agencies who use header departments for roll-up reporting, this control will enforce consistency of transaction coding and ensure data accuracy.

How does it work?

1. Navigate to Setup Files>Setup Options and scroll down to Accounting Options. 
2. Uncheck Allow posting to Header Departments
3. Scenario and applicable transactions

Let's say the "Creative" department has been designated as a Header for other departments.

When the option to Allow posting to Header Departments is disabled, "Creative" is excluded from the list of available departments on transactions. In the example below, you'll see that "Creative" is not available for selection when a supplier supplier is being dissected to a department.

         This option applies to the following transactions:

• • • Supplier invoices
    • Purchase orders
    • Journal entries
    • Sundry invoices

Exclude zero-balance schedules from the Media Cost Reconciliation Report (FKA Media Cost Control Report)

What is it? 

For agencies using Mediaocean or the native Media function within Accountability, the Media Cost Reconciliation Report (formerly known as the Media Cost Control Report) has been updated with an option to exclude schedules with a zero balance. 

The Media Cost Reconciliation Report, also known as Media WIP (Work-In-Progress) report shows the variance between the amount billed to the client and the amount invoiced by the media supplier to date.  

A Media Estimate or Media Schedule can have a WIP balance if: 

1. Media costs have been pre-billed (billed based on schedule) and supplier invoices have not been cleared for payment.
2. Supplier invoices have been cleared for payment but media costs have not been billed to the client.

Why does it matter?

This option allows media finance teams to focus on media work-in-progress analysis for schedules with a balance. 

How does it work?

1. Navigate to Media>Media Reports and expand the Media Cost Reconciliation section.  
2. Launch the Media Cost Reconciliation report by clicking on the link.  Populate the request parameters:  
   1. Accounting Period:  Select the accounting year and month 
   2. Schedule No:  Populate this filed filter the report to just a specific schedule 
   3. Check Exclude schedules with zero balance? to list only schedules with a media WIP balance. 
   4. Choose the level of detail on the report:
      1. Schedule transactions:  List client and supplier invoices that posted to the Media WIP Account you designated, for the selected period.
      2. Schedule totals:   Display the media WIP balance at the schedule level, for the selected period.
      3. Client totals:  Display the media WIP balance at the client level, for the selected period.