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Posting Keys

Dear Sir,

I am in implementation project

For uploading of asset we do

Posting Key- 70 Asset Dr

Posting key-50 Opening balance for Assets Cr

Same way for liabilities any other key is required or we can pass entries 50 posting key

Posting key – 50 Liabilities Cr

Posting key -40 opening balance for balance Sheet Dr

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4 Answers

  • Posted on Jul 10, 2012 at 06:31 AM

    You can use the same key 50 for Credit.

    Thanks

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 10, 2012 at 06:33 AM

    Hi,

    If you are uploading Vendor Liability, You should use 31 credit for vendors, and for other than vendors, its 50 (GL credit)

    Thanks,

    Jigar

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  • Posted on Jul 10, 2012 at 06:39 AM

    Customer - 01

    Vendor - 31

    CR when Customer invoices upload is 50

    DR when Vendor invoices upload is 40

    The offset account could be the same or different

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  • Posted on Jul 10, 2012 at 06:48 AM

    Hi,

    thanks for suggestion I am looking for uploading of following balance

    • Short-term loans
    • Notes payable
    • Accounts payable -Invoice/ Invoice delay
    • Accrued payroll
    • Accrued payroll
    • Equity shares

    I have aready uploaded vendor customer

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