Hi, I need a bit of help from the community to understand an accounting situation. According to my accounting team, each transaction we do must have an associated journal entry. When I process a payment, I can clearly create a journal entry because I selected that option, but that journal entry is only the payment, does not contain the record of the transaction. What I would like to understand is where ERPNext keeps a record of the transactions is performing and if there are reports associated to those transactions. For instance, my accounting team wants to be able to track down the PO that are associated to items that will impact the stock, not POs that are recurrent like telephone bills, etc. I hope this makes sense because I do not manage the accounting terms very well. Any lights will be highly appreciated.
Following are the accounting transactions in ERPNext which does General Ledgers posting on the submission for impact on accounts.
- Sales Invoice
- Purchase invoice
- Payment Entry
- Journal Entry
If perpetual inventory is activated, then following stock transactions also have impact on the accounts.
- Delivery Note
- Purchase Receipt
- Stock Entry
In the Item master, on the dashboard, you will find link of all the transactions where it is linked. Also, you can create report on the tranactions to check Item linked with it.
Thank you very much. I appreciate your support guys!