Working with general journals

When we open a general journal, we can start making transactions. Let's discuss the possibilities.

The most important fields of a general journal are the Posting Date and the Document No. The total of amounts for each combination of these fields should always be in balance. In other words, all journal lines for any particular combination of Posting Date and Document No. should always add up to zero.

There are different account types we can post to. When we post directly to a G/L Account, it is clear what will happen; a new G/L Entry will be created for that amount. When we choose another Account Type, the sub administrations will start to work. For example, when we choose Customer, a Customer Ledger Entry will be created as well as a G/L Entry. Which G/L account is used is determined by the posting group, which we will discuss later in this chapter.

Here, we also see the Gen. Posting Type, General Business and Product Posting groups and...