Simple transactions (on one row)
Simple transactions are the ones regarding two accounts (one Debit account and one Credit account) and entered in one single row.
The document number is different for each registration.
Composed transactions with more than two accounts involved, have to be entered on several rows. The user should enter one account per row. The counterpart account for the entire transaction has to be entered on the first row.
The document number, entered on the different rows, is the same because we are dealing with one and the same transaction.
In composed transactions, the dates of the transaction rows should be the same, otherwise, when doing calculations by period, there may be differences in the accounting.
The opening balances are normally indicated in the Accounts table.
Opening transactions are required in special cases such as:
- In multi-currency accounting, when you need to have different opening exchange rates than those indicated in the Exchange rates table, opening exchange rate. See Opening transactions in foreign currency.
- Entering Opening balances for segments.
The opening transactions are created by inserting the transactions with the opening date equal to the accounting start date and the code 01 in the DocType column.
- Opening transactions do not change the opening balance in the Accounts table.
- The opening balance entered with transactions is used in balance sheet printouts, account cards.
- If for the same account there is the opening balance and the recording of the opening balance, the two amounts will be added together.
This way, you can enter opening transactions that correct the opening of an account.
- When entering opening balances in the transactions, it is necessary to make sure that the sum of the debit (positive) and credit (negative) are at zero.
For each debit entry there must be a corresponding credit entry.
It may be useful to have an opening account that serves as a counterpart for entering opening amounts.
After all the opening transactions, the balance of this account must obviously have zero balance.
When entering opening balances, only the debit or credit account is generally indicated. However, it is also possible to indicate a counterpart which is generally a specific account for openings.