Dear Members,
The general posting type field helps identify the kind of transactions for tax reporting, while the tax statement classifies these transactions as sales or purchases based on the value of this field (Sales, purchase, or settlement).I have two questions concerning the general posting type, which are outlined below:
1. If I set the general product posting group as mandatory in the G/L card, then the general posting type must be provided when posting a journal. Conversely, if the general product posting group is not set as default in the G/L card, then the general posting type is not necessary in the journal?
2. So generally do we need to mark all P&L accounts either sales or purchase and leave balance sheet accounts empty?
Please provide me clarification regarding the general posting type.
