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| <title>Accounting Introduction</title> |
| <para> |
| 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. |
| </para> |
| <para> |
| 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. |
| </para> |
| <para> |
| 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. |
| </para> |
| <para> |
| 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. |
| </para> |
| </section> |
| |