Corrections Posting (Red Storno)

According to legal requirements, costs and revenues are usually posted only to either the debit or the credit side of a G/L account. Companies in Eastern Europe usually enforce accounting policies to post certain inventory and GL transactions as corrections. The reason for this is that auditors and revenue authorities conduct accounting controls against this rule.

The purpose of the feature is:

To allow the accounting manager to enforce corrective posting on desired G/L accounts
To allow the accounting manager to enforce corrective posting in inventory postings (negative transfer entries, expected costs posting)
To allow the accounting manager to enforce corrective posting of canceling in fixed assets
To allow the user to enforce corrective posting with one click (in G/L, inventory, and job postings)

Corrections Posting (Red Storno)

See also

Note