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Could you tell me, what is the purpose of General prod posting type, and general posting type, in setup
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Hello
Could you tell me, what is the purpose of General prod posting type, and general posting type, in setup
Thanks
Hello,
The General Product Posting Group, in plain terms, defines Item and Resource in the database.
General Business Posting Groups and General Product Posting Groups work together to define the Income Statement Accounts to be used when posting Sales and Purchase transactions.
The General Ledger Account setup for all of the possible combinations of General Business Posting Groups and General Product Posting Groups is in the General Posting Setup table. Each time a sales or purchase transaction is posted, the system will capture the General Business Posting Group to which the Customer or Vendor is assigned and the General Product Posting Group to which the Item or Resource belongs. Once the system has defined this Posting Group combination, it refers to the General Posting Setup table to determine the General Ledger Accounts to which the transaction should be posted.
Hope this helps.
Thanks,
Steve
thanks
ON the G/L account card, If there is any direct expense account, example Electricity , Telephone , fees, etc where GST /VAT is required to be calculated on the amount of the expense, The General posting type is required to be "Purchase" and the general prod posting group is required as a part of setup to call the GST/VAT prod posting group.
Similarly Revenue accounts need General posting type as "Sale"
These fields help in reporting specially GST statement reports.
A combination of Gen. Bus posting group and Gen. prod posting group is required on the general posting setup.
Hi
I use business central 365
Best regards
Hi,
Can you tell me what app are you using?
Leah Ju
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