Posting Rules Debit and Credit Options

On the Edit Posting Rules tab, you first select a Companyan Entity that is associated with a Propertyand then select accounts to debit and credit for each transaction for that Property and Entity combinationCompany.

The Default option is available for some transaction types. If the option Default is set for an Entitya Company, the system follows a hierarchy to determine the posting.

When you select this option, you select expense codes that are used to post to the general ledger accounts for the selected Property and Entity combinationCompany. You are hard coding the system to post a debit and a credit based on that one expense code.

When you select this option, you select general ledger accounts to post to the general ledger accounts for the selected Property and Entity combinationCompany. You are hard coding the system to post a debit and a credit based on that one general ledger account number.

When you select the Special option, you are setting up a posting shortcut.

When you set up an Expense Code-related posting rule, you are hard coding the system to post a debit and a credit based on that one expense code. If one transaction type—for example, Invoice—needs to post a debit and a credit based on several expense codes, you would have to set up a posting rule for each expense code. To avoid this laborious setup, one option is to use the Special option.

When you set up a Special posting rule, you are telling the system to post to all of the debits and credits based on expense codes in the source document. If a typical invoice includes twelve expense codes, the system would automatically post debits and credits based on those twelve expense codes.

The transaction can be cash or non-cash.

Debit and Credit Options for Posting Rules