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Saturday, November 19

General Ledger Accounting Cycle


What are the different types of Journal Entries?

Standard journal entries
Foreign and dual currency journal entries
Statistical journal entries
Inter company journal entries
You can use recurring journals to create three types of journal entries:
Skeleton entries affect the same accounts each period, but have different posting amounts.
Standard recurring journal entries use the same accounts and amounts each period.
Formula entries use formulas to calculate journal amounts that vary from period to period.

What are the different conversion types in Journal Entries?

The conversion Type can be the Spot, Corporate, or User type, or any conversion type you defined.

Budgetary control transactions can have the following statuses:

Pending: Funds reservation request is pending
Approved: Funds reservation request is approved
Rejected: Funds reservation request is rejected
Checking: Funds check request is pending
Passed Check: Funds check request has passed
Failed Check: Funds check request has failed
Fatal: General Ledger detected an irrecoverable error

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