Invoice Rounding Account in Customer Posting Groups Setup Requiring a General Product Posting Group

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Good Day All,

I am working with a client to set up a new entity. I have completed 95% and they are about to go live. It looks like we are running into a problem when setting up the Invoice Rounding Account GL account on the Customer Posting Groups screen.

It states "Gen. Prod. Posting Group must have a value in G/L Account: No.=66200. It cannot be zero or empty" I understand this means that I need to go to the G/L Account card and set up the General Product Posting Group on that specific G/L account. The issue that I'm having is that the client is getting confused and stating "We have to have these rounding accounts used for ALL posting groups."

I have dug around, but I simply can't find anywhere that actually explains what a gen product posting group does on a GL account and why it is needed on a rounding account in the Customer Posting Group setup.

I understand why the Customer Posting Group requires a rounding account to be assigned, but why does that account then need its own posting group?

Thank you kindly in advance,

Matt

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Paras mehan 3,518 on at

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RE: Invoice Rounding Account in Customer Posting Groups Setup Requiring a General Product Posting Group

Hi,

Please go to 66200 G/L Account Card and mention any of the Gen. Prod. Posting Group in that Account.

Now comes to why Invoice Rounding Account is required:- when you will post the sales order and total amount will come in decimals then system will round off the total value and post the difference decimal in the invoice rounding account.

Why Posting Group is Required:- When you will post the invoice then one new sales line will created of Invoice Rounding Account with decimal Value. Any of the G/L Which is reflecting through sales line that need Gen. Prod. Posting Group.

Hope it clear your doubt.

Best Regards,

Paras M

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RobertasR 5,004 on at

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RE: Invoice Rounding Account in Customer Posting Groups Setup Requiring a General Product Posting Group

Hi Matthew,

I don't think that the General Product Posting Group is required as such, because technically the invoice rounding is created as a new sales line on the document with the difference. This line is 'G/L Account'-type line, so General Posting groups don't matter.

However, what you DO need on the sales line with rounding difference, is the VAT Posting Group, as VAT might need to be adjusted as well. Theoretically the Gen. Product Posting Group sets VAT Product Posting Group when setting GL Accounts (I know it's not always true). So basically, that is the way for system to say that GL Account must be setup with Posting Groups, even though in theory it only needs VAT Prod. Posting Group when posting rounding.

Hope that makes sense.

Robertas

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Community Member on at

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RE: Invoice Rounding Account in Customer Posting Groups Setup Requiring a General Product Posting Group

Hi Robertas

I've a customer asking the same question - why do you need Gen. Product Posting Group code for a G/L Account used in the SO line. The posting will not use any of the accounts referenced by the Gen. Product Posting Group.

I tried setting up the GST Product Posting code for the G/L Account (as you suggested), and then use this account in SO line (G/L Account line type), and I get the same error message: "Gen. Prod. Posting Group must have a value in Sales Line"

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