CVO Posting Process
CV Online
The posting and reconciliation tools in this section are available in CV Online, only if configured for your system. If you are looking for information on the posting process in CV Pro or CV9, refer to the Accounting Guide
Accounting Process
If configured, the browser-based accounting process provides a workflow to produce GL entries for export to the accounting system. In this process, posted batches, payments, and invoice items are “locked down” to prevent further editing. In general, there are 3 steps to the accounting process: (1) batched payments, (2) processing transactions for accounting, and (3) exporting the data file for the accounting system.
(1) Payment Batches
All payments are recorded in payment batches, including payments from the website. You can review the list of payment batches under Financials > “Batches.” Depending on your configuration, you may be required to approve batches in order to execute the posting process as described below, under “Approved Batches Posting.” In this case, you should approve batches only when you are ready to post them, and they should all be dated in the same month.
(2) Process For Accounting
This process has two configuration options for determining which transactions are included in your posting. The first and most common is to post approved batches or to post unbatched revenue through a specified date. The second is based on an “As Of Date” and is no longer a common configuration option.
In both options, you will also specify a Post Period. This is the accounting period to which you are posting the transactions. It is important to make sure that the transactions included and the Post Period match. For example, March payments should be posted to the March Post Period.
Posting via Approved Batches or Unbatched
This posting configuration allows you to post batched revenue separately from unbatched revenue. As shown below, you can choose to either post all approved batches, OR you can choose to post unbatched revenue through as “as of date.” You also must specify the period you wish to post to.
The option for “Post approved batches” means that all currently approved payment batches and their associated revenue will be included in posting. This means you should approve and post batches 1 month at a time.
For example, to post March payments,
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Make sure all prior month batches have been approved and posted.
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Approve all March payment batches
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In the posting wizard, select “Post Approved Batches,” and set the Posting Period to March.
The option for “Post unbatched revenue through date” means the system will include in posting all revenue that is not yet posted, not in a payment batch, and is not a membership dues. This is used to create receivables or post adjustments to previously posted invoices.
For example, to create receivables for invoices created in March,
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Make sure all prior month receivables and adjustments have been posted.
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In the posting wizard, select “Post unbatched revenue through date,” and enter March 31.
Posting via “As of Date”
In this option, when you run the accounting posting process (Financials > Accounting > “Process For Accounting”), you have the option to set a date criteria and specify a posting period. This is shown in the screenshot below.
The date determines which transactions are included in posting – specifically, all transactions that occurred on or before the specified date, and are not yet posted, will be included. The period determines which month you are posting them to.
As an example, if today was June 8th and you wanted to post transactions for first 7 days of the month, you would choose June 7 for the “as of date,” and you would choose June as the posting period.
It is very important to post all prior months first. If you had unposted transactions in May and entered June 7 as the date, the May transactions would be posted to June. The correct action would be to first enter May 31 as the date, and choose May as the post period, and only after doing this, proceed to June. The first posting screen includes a summary of unposted transactions to aid in this decision-making process.
Completing the Posting Process
When you proceed through the posting process, you are first shown a preview of the posting results. This allows you to verify the posting is correct, and you can cancel the process if needed. If you proceed, you are shown the committed posting result. The screens are quite similar. Here is an example of the preview screen:
At completion of the posting, you receive a “Posting Complete!” message, and a trial balance of the posting result. This report displays a total of the debits and credits generated in the posting process.
If you find an error in the posting result, you may use the “Unpost Run” button at top-right to delete the posting. This deletes the debits and credits that were created and “unlocks” the invoices that were included so that they may be edited if needed.
(3) Export To Accounting
The final step in posting is to generate the export data file which you can then import to your accounting system. You can access the export either at the end of the posting wizard, at bottom-right, the “Export to Accounting” button, or on the main menu at Financials > Accounting > “Export To Accounting.” This option allows you to select a period from which to export transactions. All transactions in the period that have not yet been exported are downloaded.
The export file is standard and cannot be customized. It is a CSV file containing columns as shown below:
All transactions that you export are marked as “exported” in the back-end of the system. This ensures they cannot be exported again, thus preventing any possible duplication.
View Trial Balance
Under the Financials > Accounting menu, you can use the “View Trial Balance” to obtain a trial balance summary of posting. You are prompted to enter a range of run numbers for which to calculate a trial balance. The run number is assigned to each run of the posting wizard.
View In-Progress Postings
Under the Financials > Accounting menu, you can use the “View In-Progress Postings” to view any transactions currently in the posting process. The most common usage for this screen is to identify and “release from posting” any items remaining in an in-progress posting status.
This may be necessary due to unexpectedly closing the browser or unexpected error. When you initiate the posting process, the system marks any records included in your posting run as “in-progress.” This prevents multiple staff persons from potentially posting the same transactions at the same time. If, however, you closed your browser before completing posting, your transactions are still marked as in-progress, so when you return to the posting wizard, those transactions will not be available to post. Use the “Release Items from Posting” feature to release them and return to the posting wizard.
Chart of Accounts
To access the chart of accounts, navigate to Administration > Reference Tables > “Ledger Reference Codes.” Generally, the Euclid implementation team has already loaded and configured the chart to function properly in ClearVantage. However, you may use this screen to add new accounts or adjustments to existing accounts. Do not change account numbers or delete accounts.
The following screenshot and description explains the usage of each field.
LEDGERCD: this is the account number. Once this has been set, you cannot change it. If the account number is incorrect, add a new account with the correct number.
DESCRIPTION: free-text name/description of the account, used in various reports.
DEBITLEDGERCD: for the primary A/R account, this should be the primary cash account; for all other accounts, this should be the primary A/R account. As a general rule, this should not be changed for accounts already configured by Euclid.
DEFLEGDERCD: this is the linked deferral account. For any revenue account which should have a deferral rule applied, select the appropriate deferral account from the dropdown. For all other accounts, leave blank or set equal to the LEDGERCD. The latter selection will override and turn off any deferral rule.
ACCOUNTCLASS: used in reports; this field should contain text “ASSET” or “EXPENSE” for accounts that carry a debit balance, or “LIAB” or “REVENUE” for accounts that carry a credit balance.
CLASS: optional categorization.
COMPANYCD: select the appropriate financial entity.
Account Mappings
All sale-able items must be mapped to a destination revenue account in order for the system to be able to post revenue for the item to the account.
To edit the linked account for any item, open the item’s notebook, and select the button “Edit Accounting CD.” Following screenshot shows this in event notebook:
This opens a dropdown which allows you to select the destination revenue account:
Additionally, these mappings are stored in, and can be edited in, the Ledger/Item CD Map reference table.
