Posting transactions is an important step in managing revenue in MC Trade. If you are integrated with QuickBooks Desktop, Microsoft Great Plains Dynamics, or Intacct, you'll need to use the desktop application to sync your journal entries automatically into your accounting software. The steps below will allow you to:
- Secure invoices, payments and adjustments so that they cannot be edited or deleted after they've been reconciled
- Send Summary Journal Entries over to your QuickBooks Desktop, Great Plains or Intacct accounting software
These desktop integrations WILL continue to be supported on an updated version of the installed desktop application (called Desktop Connect) after the March 31, 2024 end of support date for the full desktop version. The Desktop Connect version of MC Trade will contain only the screens necessary for connecting directly with QuickBooks Desktop and/or Great Plains Dynamics:
Post Transactions: review and send journal entries to your accounting software
Accounting Package configuration: test your connection with your accounting software
Account Code Import and code setup: import and assign Accounts from your accounting software
Please note that if you use QuickBooks Desktop, Great Plains, or Intacct, but do NOT actually sync/integrate data to it through MC Trade, you do not need to use the steps below and can post your transactions through the browser version of MC Trade.
To post transactions in the desktop:
- From the main menu, select Revenue > Post Transactions. The Post Transactions window will open.
- Select the date range of unposted transactions you want to post, or check the Show all unposted transactions box to bring up all unposted transactions in the data grid below.
- Select the Accounting Package you want to pull transactions from. Some clients will only have one option in this drop-down menu, while some may have multiple Accounting Packages.
- Click the Preview Transactions To Post button to display the unposted transactions. The Summary Journal Entries to be Posted data grid displays the accounts that will be affected by the postings and the amounts that will be credited and debited to each account.
- *NOTE* - if you use QuickBooks and use classes and/or sub-classes, you will see a separate entry for each class as well as each account.
- *NOTE* - if you use IntAcct and use Departments and/or Locations, you will see a separate entry for each of these, as well as each account.
- You can also see the details of these Journal Entries by clicking the the View Journal Entry Details link. Detail information is for your review only. Only Summary Journal Entries will be posted to QuickBooks, however. The Summary Journal Entry includes: Apply Date, Posting Batch #, and Account #s (debit/credit) and they are grouped on Apply Date and Account #
- If a listed entry should not be posted, select the entry by checking the box next to it and then selecting Remove Selected Transactions from the Actions drop-down menu. Click the green 'go' arrow button to execute the removal action.
- To correct Debit Account or Credit Account information, click in the appropriate column and a drop-down list will appear that contains the Account Codes and Descriptions from the Account Codes table.
- Click the View Pre-Posting Report button to open a report of the items and account numbers to be posted (this step is optional).
- If you are integrated with QuickBooks, Great Plains or Intacct, make sure the Create Accounting Package Journal Entries box is checked so that these systems are updated with Summary Journal Entries. It should be checked by default.
- Click the Post Transactions button. The selected transactions will be marked as posted. This locks the transactions so that any further changes will require adjustments.
- To view a report of the journal entries made, click the View Posting Report button.