Using AutoAccounting
AutoAccounting is a powerful, flexible, and time saving feature that automatically creates your general ledger Accounting Flexfields. You can set up AutoAccounting to create Accounting Flexfields that meet your business needs.
When you run AutoAccounting, Receivables:
- Assigns valid Accounting Flexfields to your invoices and credit memos.
- Automatically generates valid Accounting Flexfields for your Freight, Receivable, Revenue, AutoInvoice Clearing, Tax, Unbilled Receivable, and Unearned Revenue Accounts.
- Controls how your Accounting Flexfields are created and defined.
Automatic Accounting Flexfield Creation
Receivables automatically creates default Accounting Flexfields for your revenue, freight, receivable, and tax accounts for each invoice and credit memo. AutoAccounting also creates the proper unearned revenue or unbilled receivable accounting entries you need when you use invoicing and accounting rules. You can quickly enter your invoices and credit memos without worrying about entering the correct account.
User Definable Structure
AutoAccounting lets you determine how to create your Accounting Flexfields. For each Accounting Flexfield segment, you can choose to use a constant value or have Receivables derive it from a specific table. For example, you may have a four-segment Accounting Flexfield like this: 01-100-2025-345. With AutoAccounting, you can specify that the first segment is a constant, the second segment is determined by the salesperson, the third segment is determined by the transaction type, and the fourth segment is determined by the product.
User Changeable Defaults
AutoAccounting always lets you override the default Accounting Flexfields.
See Also
AutoAccounting Structure
How to Use AutoAccounting
AutoAccounting
