Transactions and Postings

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Transaction postings happen in one of two ways: transactions can be manually created in the Financials > Transactions tab and then posted manually with the [Post] button, or they are automatically generated when business transactions, such as receiving inventory, sending out a shipment with an invoice, or receiving a payment, occur. By default, the system will post the automated transactions automatically, but this can be turned off so that all transactions are reviewed before being posted. Before any transaction is posted, the system will verify that the debits and credits are in balance. No unbalanced transactions can be posted.

Each transaction posted records the related business transaction, including party (customer/vendor), product, shipment, invoice, payment, invoice item, work effort (manufacturing or service task), as well as the user who posted it (or “system” if automatic.) There are several places to view the transactions posting records, including the Transactions > Find Transaction tab and the Transaction Summary and the Account Activity Details reports.

The default posting behavior is handled via Account Types. Each posting routine looks for the configured GL account of a particular account type for the organization and will post to it. By changing the GL account associated with the account type, you can then change the posting GL account. The specific logic behind which GL account type is used for each transaction is in the documentation of the Financials module. Additional account types can be added to support new posting routines.



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