Hi Good day to all,
I am a newer in openERP, In Journal creation we can add more accounts or account types for entry controls, but i can't get the idea of accounts and journals, But i have an idea about ledgers and Journal entries in tally. so pls give me a suitable reply in a simple language, what is account and journal and in a customer payment, what is the purpose of journal , give me a simple example for the above, pls...
To understand difference take an example:
Account are like box of money and journal like a book. You transfer money from one box to other box and what you transfer do entry in journal.
Awesome, thanks for your reply... simply it is helpful...
Awesome explanation (y)
Whats happen if I have more than one Income Account?
1.0 Income
1.1 Products Sales Income
1.2 Services sales Income
An account is a value that enables like transactions to be aggregated - for4 example, sales is an account. A journal is a way of flagging the type of transactions - for example, a sales journal versus a bank journal. This way in your bank ACCOUNT you can see what transactions came from sales (as they were generated by a SALES JOURNAL) and those from bank. In OpenERP the journal may set default entries (e.g. the bank journal sets the bank account to be used for the bank posting).
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