Specifies the general posting type that to use when posting to this account. The code defines whether the account will be used only in connection with sales or purchase transactions or with both kinds of transactions.
The program uses the Gen. Posting Type field, together with the Tax Bus. Posting Group and Tax Prod. Posting Group fields, to find the account to which the program posts Tax.
The Gen. Posting Type field should be filled in only for revenue and expense accounts where Tax is involved. For other accounts, select Blank.
To see the general posting types that are available, choose the field.
<Blank> | Select this option for accounts used with transactions that do not involve Tax calculation. |
Purchase | Select this option if the account will be used with purchase transactions. The program uses the information to calculate the correct purchase Tax and post it to the account for purchase Tax. |
Sale | Select this option if the account will be used with sales transactions. The program uses the information to calculate the correct sales Tax and post it to the account for sales Tax. |
If you do not enter anything, the Gen. Posting Type will be Blank.
When you post entries to this account, the program will automatically generate entries in the Tax Entry table unless the Gen. Posting Type field is Blank.
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |