topic Re: Offsetting GL account in Application Development and Automation Discussions

Offsetting GL account

Former Member — Wed, 19 Nov 2008 10:23:13 GMT

Guys

Can you tell me what is Offsetting GL account ?

What is its significance

regards

sateesh

Re: Offsetting GL account

GauthamV — Wed, 19 Nov 2008 10:24:52 GMT

You can expect better results in ERP FINANCIALS forums.

Re: Offsetting GL account

Former Member — Wed, 19 Nov 2008 10:33:07 GMT

Hi,

In Posting a document, there is a limit of Max 999 lines per document, In such case, if you have more than 999 line items then you have to split the document and then perform posting...

In such cases, first 999 line items will be assigned to a GL Account and the amount for 999 line items say X is assigned.

The rest line items above 999 are assigned to an Offset line item(Used to link the two split documents above) and then the balance amount(Y) + (Negative of the prevoius amount = -X) = Total amount for posting is done and Posted accordingly...

In such cases You will have the below format for the posted document..

Header (with total sum = X for all 999 items)

Line items1---

---

Line item 999

Header

Line item with Offset GL Account and Amount = -X

Line item 1000---

Line item 1001--

---

etc...

Regards

Shiva

Re: Offsetting GL account

arjun_subhash — Wed, 19 Nov 2008 10:37:17 GMT

Hi,

There are different offsetting accounts, for example :

1.purchase offset account

This G/L account is used in order to offset the purchase or purchase-return account, thus maintaining journal entries created by balanced purchasing documents.

2.expence offset account is used if an additional expense influences inventory values, this account is used as an offsetting account for the additional expense value included in the purchasing posting

etc...

thanks

Arjun