Page 20 - Participant Guide - Unanet GovCon Closing a Fiscal Period (2)

LESSON 3: INVOICING AND POSTING

Learning Objectives

• Recognize the requirements and decisions involved to perform, validate, record,
and post various closing transactions
o Perform and Validate Project to Financials Posts
• Expense Report Cost Post
• Labor Cost Post - and reconcile it to the People Actuals Summary report
by pay period (Semi-Monthly Pay Period).
• Prepare and Post Service Contract Act (SCA) – Pay in Lieu of Benefits
• Differentiate the various procedures and options used to verify, reconcile, and
close Unanet’s Posting Features
o Close Posting Features for Invoicing and Posting
• Billing & Revenue Post
• Expense Report Cost Post
• Invoice
• Labor Cost Post
• Pay in Lieu of Benefits

Introduction
The Posting Feature for Invoicing & Posting consist of the Billing & Revenue Post,
Customer Invoicing, Expense Report Cost Post, Labor Cost Posts, and Pay in Lieu of
Benefits Post. All transactions for these areas must be entered, validated, and posted
prior to closing the Posting Feature for Invoicing & Posting.

Each Posting Feature for Invoicing & Posting also includes an Unpost process menu
option. Unposting provides a means to undo previously posted transactions. Unposting
a previously posted item will permanently erase any evidence of that post. This process
will delete journal transactions, General Ledger entries, and unmark the originating
transactions making them available to participate in another post process.

Reminder: After any posting process, the GL Summary (Trial Balance) Report will
need to be Refreshed or re-run, for the period, to confirm activity and values.

Lesson 3 Overview Video (for SDL only)

LESSON 3: INVOICING AND POSTING
©2022 Unanet. All rights reserved. 20