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What is the difference between account and journal ?

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Muhammed Rafeeq

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...

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3 Answers
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jamesbale
Best Answer

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.

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Muhammed Rafeeq
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Awesome, thanks for your reply... simply it is helpful...

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nikesh
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Awesome explanation (y)

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Best Answer

Whats happen if I have more than one Income Account?

1.0 Income

1.1 Products Sales Income

1.2 Services sales Income

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Kevin McMenamin
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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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