8.2.1 Advantage of Building Accounting Roles and Heads Classes

While entering into a deal, one or more GLs have to be debited, and one or more GLs would have to be credited. For example, when you sell securities into a customer portfolio, you could do the following:

• Debit the Customer Account
• Credit the Bridge
• Credit the Tax Payable GL
• Credit the Income Charge

Every time you enter into a deal involving a product, you do not have to specify the account heads (GLs) involved. The heads identified for the class to which you associate the product will automatically be picked up.