I Have a question regarding Cash or Bank

[former_member394081]

Hi Experts,

I Have a question regarding Cash or Bank

Cash or Bank are Current assets then posting keys would be 70 or 75, but we are taking as gl giving posting key as 40 & 50

Example

In F-43

Invoice:

                         40  Purchases A/c Dr          500000

                         31          To Vendor A/c Cr                    500000

In F-53

Payment:

                         25          Vendor A/c  Dr                  500000

                        50                    To Bank A/c Cr                        500000

Thanks & Regards,

K Kali Praveen

[pavan_kumar18 · Accepted solution]

Hi,

System behavior in this regard is fine, the posting key is correct.

Bank is an asset but it is a current asset.

The payment in this regard is for purchases, not yet capitalized.

When ever we are paying it will come under out going payments.

For outgoing payments postings keys will be:

For debiting the vendor - Posting Key is '25'

For Crediting the bank - Posting key is '50' -  (Derived from the GL Accounts - Account Type - S)

Posting keys linked with the Account Types:

A	Assets
D	Customers
K	Vendors
M	Materials
S	G/L accounts

Defining Posting Keys - It is recommended to use the posting keys delivered by the standard system:

The posting key controls how the line item is entered and processed. For each posting key, you define among other things:

• which side of an account can be posted to,
• which type of account can be posted to, and
• which fields the system displays on the entry screens and whether an entry must be made (field status).

The system also uses the field status group you specify in a G/L account to determine the status of fields in document entry.

Field status groups are defined within a field status variant.

Regards,

Pavan Kumar Arvapally

[former_member228919 · Accepted solution]

Great explanation Mr. Arvapally.

Regards,

Naresh

[former_member394081 · Accepted solution]

Hi Pavan Kumar Arvapally,

Thanks for clearing my doubt....

Thanks & Regards,

K Kali Praveen

[pavan_kumar18 · Accepted solution]

Welcome....