7.2 Accounting Transactions
- Accounting Transactions in ERPNext are used to record all financial activities of the company.
- Each transaction creates debit and credit entries in the system based on the double-entry accounting principle.
- These transactions update:
- General Ledger
- Account balances
- Customer / Supplier outstanding
- Financial reports
- Accounting entries are created only when a document is submitted. Draft documents do not affect accounts.
- ERPNext automatically posts accounting entries from operational documents such as Invoices, Payments, Payroll, and Expenses, ensuring accurate and real-time financial data