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<section xmlns:xsi="" version="5.0"
xsi:schemaLocation=" ../../../content/dtd/docbook.xsd"
<title>Accounting Introduction</title>
The Accounting system is organized according to age old and generally accepted principles such as double-entry accounting, a General Ledger with hierarchical accounts,
journals and posting of transactions and corresponding entries.
The structure is primary based on the OMG GL standard and the work that was done on an
AR/AP extension of the OMG GL standard. This correlates well with other standards such as ebXML and OAGIS.
The Accounting entities are structured such that accounts for multiple organizations can be managed. The multiple organizations could be multiple companies,
or departments or other organizations within a company. Each Organization can have various GL Accounts associated with it so that it can operate
with its own subset of the Master Chart of Accounts.
Each Organization can also have its own set of Journals for flexibility, even though the
use of Journals should be as minimal as possible in favor of allowing the system to automatically create and post transactions based on business events
triggered by standard procedures and documents such as purchase and sales orders, invoices, inventory transfers, payments, receipts, and so forth.