Posting groups are covered under three umbrellas:
General - Define who you sell to and buy from, and what you sell and what you buy. You can also combine groups to specify things like the income statement accounts to post to, or use groups to filter reports.
Specific - Use sales documents, for example, instead of posting directly to the general ledger. When you create entries in the customer ledger, corresponding entries are made in the general ledger.
Tax - Define the tax percentages and calculation types that apply to who you sell to and buy from, and what you sell and what you buy.
The following tables describe the posting groups under each umbrella.
TABLE 1
General Posting Groups Description
General Business Posting Groups Assign this group to customers and vendors to specify who you sell to, and who you buy from. Set these up on the Gen. Business Posting Groups page. When you do, think about how many groups you'll need to break down sales and purchases. For example, group customers and vendors by geographical area, or by the type of business.
General Product Posting Groups Assign this group to items and resources to specify what you sell, and what you buy. Set these up on the Gen. Product Posting Groups page. When you do, consider the number of groups you'll need to break down sales by product (items and resources) and purchases by items. For example, divide these groups by raw materials, retail, resources, capacity, and so on.
General Posting Setups Combine business and product posting groups and choose the accounts to post to. For each combination of business and product posting groups, you can assign a set of general ledger accounts. For example, this means you can post the sale of the same item to different sales accounts in the general ledger because customers are assigned to different business posting groups. Set these up on the General Posting Setup page.
TABLE 2
Specific Posting Groups Description
Customer Posting Groups Define the accounts to use when you post accounts receivable transactions. If you use inventory with receivables, the general business posting group assigned to your customer, and the general product posting group assigned to the inventory item determine the accounts that the sales order lines post to. See "General Business Posting Groups" and "General Product Posting Groups" under General Posting Groups above. Set these up on the Customer Posting Groups page.
Vendor Posting Groups Define where to post transactions for payables accounts, service charge accounts, and payment discount accounts. This is similar to customer posting groups. Set these up on the Vendor Posting Groups page.
Inventory Posting Groups Define inventory posting groups that you then assign to the relevant item accounts on the Inventory Posting Setup page. This way, when you post entries concerning an item, the system will post to the G/L account that is set up for the combination of inventory posting group and location that is linked to the item. Inventory posting groups also provide a good way to organize your inventory, so you can separate items by their posting group when you generate reports. Set these up on the Inventory Posting Groups page.
Bank Account Posting Groups Define accounts for bank accounts. For example, this can simplify the processes of tracing transactions and reconciling bank accounts. Set these up on the Bank Account Posting Groups page.
Fixed Assets Posting Groups Define accounts for different types of expenses and costs, such as acquisition costs, accumulated depreciation amounts, acquisition costs on disposal, accumulated depreciation on disposal, gains on disposal, losses on disposal, maintenance expenses, and depreciation
General - Define who you sell to and buy from, and what you sell and what you buy. You can also combine groups to specify things like the income statement accounts to post to, or use groups to filter reports.
Specific - Use sales documents, for example, instead of posting directly to the general ledger. When you create entries in the customer ledger, corresponding entries are made in the general ledger.
Tax - Define the tax percentages and calculation types that apply to who you sell to and buy from, and what you sell and what you buy.
The following tables describe the posting groups under each umbrella.
TABLE 1
General Posting Groups Description
General Business Posting Groups Assign this group to customers and vendors to specify who you sell to, and who you buy from. Set these up on the Gen. Business Posting Groups page. When you do, think about how many groups you'll need to break down sales and purchases. For example, group customers and vendors by geographical area, or by the type of business.
General Product Posting Groups Assign this group to items and resources to specify what you sell, and what you buy. Set these up on the Gen. Product Posting Groups page. When you do, consider the number of groups you'll need to break down sales by product (items and resources) and purchases by items. For example, divide these groups by raw materials, retail, resources, capacity, and so on.
General Posting Setups Combine business and product posting groups and choose the accounts to post to. For each combination of business and product posting groups, you can assign a set of general ledger accounts. For example, this means you can post the sale of the same item to different sales accounts in the general ledger because customers are assigned to different business posting groups. Set these up on the General Posting Setup page.
TABLE 2
Specific Posting Groups Description
Customer Posting Groups Define the accounts to use when you post accounts receivable transactions. If you use inventory with receivables, the general business posting group assigned to your customer, and the general product posting group assigned to the inventory item determine the accounts that the sales order lines post to. See "General Business Posting Groups" and "General Product Posting Groups" under General Posting Groups above. Set these up on the Customer Posting Groups page.
Vendor Posting Groups Define where to post transactions for payables accounts, service charge accounts, and payment discount accounts. This is similar to customer posting groups. Set these up on the Vendor Posting Groups page.
Inventory Posting Groups Define inventory posting groups that you then assign to the relevant item accounts on the Inventory Posting Setup page. This way, when you post entries concerning an item, the system will post to the G/L account that is set up for the combination of inventory posting group and location that is linked to the item. Inventory posting groups also provide a good way to organize your inventory, so you can separate items by their posting group when you generate reports. Set these up on the Inventory Posting Groups page.
Bank Account Posting Groups Define accounts for bank accounts. For example, this can simplify the processes of tracing transactions and reconciling bank accounts. Set these up on the Bank Account Posting Groups page.
Fixed Assets Posting Groups Define accounts for different types of expenses and costs, such as acquisition costs, accumulated depreciation amounts, acquisition costs on disposal, accumulated depreciation on disposal, gains on disposal, losses on disposal, maintenance expenses, and depreciation