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Version: 7.0

Accounting - user documentation

This section describes the General Ledger accounting module: chart of accounts, journals, posting from operational documents, manual journal entries, fixed assets, and reporting.

Who this section is for​

The Accounting section is typically used by:

  • accountants and chief accountants;
  • finance specialists and controllers;
  • users who configure posting rules for sales, purchase, inventory, and payroll documents.

Pages in this section​

Where to find it​

The section typically contains:

  • Accounting -> Operations -> Journal entries, Assets, Asset depreciations;
  • Accounting -> Reporting -> General ledger;
  • Accounting -> Configuration -> Settings, Chart of accounts, Cash Flow Items.

In addition, accounting tabs are added to document types and documents in other modules. See Posting from source documents.

Quick start​

  1. Open Settings and reference data and review the chart of accounts, journals, and asset types.
  2. On the document types you use, configure the accounting journal and debit/credit accounts. See Posting from source documents.
  3. Create or process operational documents, then generate journal entries either from each document or in bulk from the General ledger.
  4. Review generated entries in Journal entries, correct manual entries if needed, and post/unpost them.
  5. If fixed assets are used, maintain them in Assets and depreciation.
  6. Build the General ledger and print the Balance Sheet, Profit and Loss, and Cash Flow Statement.

Main terms​

Journal​

A directory that groups journal entries. Document types are linked to journals.

Journal entry​

A posting document with header fields and debit/credit lines.

Lock date​

A control date after which journal entries and their lines cannot be changed.

Cash Flow Item​

A classification used by the cash flow statement. It is assigned to GL accounts.

Asset type​

A setup object that defines the numerator, journal, accounts, and useful life for fixed assets.