Control Accounting

Every financial transaction (and almost every other thing that modifies data in Control) results in the creation of an Activity. From an accounting point of view, an activity corresponds to a discrete financial transaction, or General Ledger Journal Batch Entry. For this reason, activites are also referred to as Journal Entries.

A typical Activity to post a payment on an order might contain the following information (and some more):
  • Journal ID #9999
  • Description: Payment on Order 1234
  • Entry Date: 4/1/2008 3:15 pm
  • Amount: $2340.00
  • GL Entries:
Account
Debit
Credit
Checking
$ 2340.00

Accounts
Receivable

$ 2340.00

Important information to note about every Activity:
  • It must balance (Debits + Credits = $0.00)
  • It (normally) only has one date and time.
  • It can link to Transactions and Companies.
  • It supports Divisions (if enabled).
  • Most activities can be edited, but none may be deleted.

More Information