Under the "General Ledger" tab of the "Accounting" tab, the "GL Account Code and Name" to which the purchase transaction will be recorded is displayed according to the "General Ledger (GL) Account" defined on the "Supplier Account Information" screen ( see: Financial Accounts ) and also specifies whether the transaction will be recorded as a Debit or Credit.
Document Title Accounting Information
You can choose the Accounting Method you use as:
ACR - Accrual Accounting: Under the accrual basis of accounting, revenues are reported on the income statement when earnings are earned. Expenses are matched with corresponding revenues and/or reported when expenses are incurred, not when cash is paid. The result of accrual accounting is an income statement that better measures a company's profitability over a given period.
CSH - Cash Basis Accounting: In the cash basis of accounting, revenues are reported on the income statement when cash is received. Expenses are reported when cash is paid.