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What is the difference between account and journal ?

Muhammed Rafeeq
on 3/21/13, 10:46 AM 3,438 views

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...

On 3/22/13, 10:04 AM

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...

Muhammed Rafeeq
on 3/26/13, 1:45 AM

Kevin McMenamin

--Kevin McMenamin--
| 5 2 6
Auckland, New Zealand
--Kevin McMenamin--
Kevin McMenamin
On 3/21/13, 3:52 PM

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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Asked: 3/21/13, 10:46 AM
Seen: 3438 times
Last updated: 3/31/15, 1:02 AM