what is the point of posting a journal entry?

Question

Posting an entry from an accounting prespective is taking the information from the journal and putting it on the ledger, but that is done automatically. So, what is the point of posting an entry?

Fabien Pinckaers (fp) · Answer

Draft journal entries can be modified. They are not considered as part of the ledger, they are not included in legal reports. Posted journal entries can not be modified anymore and appear on legal reports.

Ray Carnes · Answer

One business case is that POSTED journal entries are those that have ACTUALLY happened.  If you write a check, or receive payment from a Customer - it may still take time for the check to be deposited and for the payment to be batched from the credit card processor.  The draft Journal Entry indicates you EXPECT funds to move, the posted Journal Entry indicates you have confirmed from the bank that the funds have ACTUALLY moved.

İlgili Gönderiler	Cevaplar	Görünümler
Odoo15 how to update credit and debit of journal entry on multi currency accounting journal journal_entry v15	1 Kas 23	3064
"Cannot create unbalanced journal entry" when closing POS session accounting pos journal journal_entry	1 Şub 19	4971
In OpenERP 7 How do I reconcile a payable line from a manual journal entry with another payable line from another manual journal entry? accounting journal journals journal_entry	0 Mar 16	3417
Error on General Journal accounting v8 journal journal_entry	1 Nis 15	4640
What is the purpose of Journal Entries and Journals in Odoo? Çözüldü accounting journal_entry	3 May 24	8281

Bu soru işaretlendi

Enjoying the discussion? Don't just read, join in!