on 04-29-2016 2:47 AM
Hi Experts,
I Have a question regarding Cash or Bank
Cash or Bank are Current assets then posting keys would be 70 or 75, but we are taking as gl giving posting key as 40 & 50
Example
In F-43
Invoice:
40 Purchases A/c Dr 500000
31 To Vendor A/c Cr 500000
In F-53
Payment:
25 Vendor A/c Dr 500000
50 To Bank A/c Cr 500000
Thanks & Regards,
K Kali Praveen
Hi,
System behavior in this regard is fine, the posting key is correct.
Bank is an asset but it is a current asset.
The payment in this regard is for purchases, not yet capitalized.
When ever we are paying it will come under out going payments.
For outgoing payments postings keys will be:
For debiting the vendor - Posting Key is '25'
For Crediting the bank - Posting key is '50' - (Derived from the GL Accounts - Account Type - S)
Posting keys linked with the Account Types:
A | Assets |
D | Customers |
K | Vendors |
M | Materials |
S | G/L accounts |
The posting key controls how the line item is entered and processed. For each posting key, you define among other things:
The system also uses the field status group you specify in a G/L account to determine the status of fields in document entry.
Field status groups are defined within a field status variant.
Regards,
Pavan Kumar Arvapally
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