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Accounting MethodologyThe Journal FileMail Order Manager has a complete journal file that tracks all Accounts Receivable and Accounts Payable transaction activity throughout the system.
General Ledger InterfacePeriodically, journal entries are "posted" in normal accounting. Posting is the process of summarizing journal entries to your General Ledger (G/L) or Chart of Accounts. Because each type of journal transaction can affect one or more accounts in your G/L, M.O.M. provides a General Ledger interface to "map" each type of journal transaction to the affected G/L account. For example, on the Charge side of the journal, when an invoice is created for an order, it affects two different G/L accounts - it increases both the Sales and Accounts Receivable accounts. On the payment side of the journal, when a payment is received from a customer, it would increase the Cash account and decrease the Accounts Receivable account. The general ledger account numbers are maintained in the G/L Interface Maintenance function. The journal can be posted for the A/R and A/P Journal separately. At year-end, you can use the Close Year function to clear the Income and Expense account categories in the G/L Interface file. See Also |