I was exploring the Fixed asset budget journal, and having below doubts:
1. While posting the fixed asset budget journal there is an offset account, why do we need to define the offset account as even after posting the voucher posted doesn't have the financial entry.
2. And after transferring to the budget register entries for each budget line there is a corresponding negative line, I believe that came because we defined the offset account while passing the budget journal.
I do understand the importance of the offset account, it's use as per accounting double entry system in account.
My concerns are like why we need to put the offset account in Fixed asset Budget journal, what is the use as even after posting no financial entry passes.
And after transferring the journal to budget in the Budget register entries we have two lines, one for the Fixed asset account and other offset account.
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