Balancing ChartFields

Balancing ChartFields and their relationship to a balanced set of accounts or books is central to interunit and intraunit processing and ChartField Inheritance.

Business unit and the ChartFields that you can designate to represent entities are said to be balancing when you require debit amounts to equal credit amounts for the purpose of maintaining a balanced set of accounts or books for a particular business unit and selected ChartField values. For example, if for a Business Unit, Department and Fund are Balancing ChartFields, then transactions involving values for any of these ChartFields must have debit amounts equal to credit amounts.