Demystifying “Gen. Posting Type” on G/L account card in Microsoft 365 Business Central
One of the most common question our clients asked is how and why we need to define “Gen. Posting Type” on G/L account card. It is essential for both consultants and clients to understand the set up rules for this field. First of all, the “General Posting Type” field is attached to any transaction impacting the General Ledger and is primarily used in GST Reporting (i.e. BAS Statement). There are 4 options: Blank. This is when the transaction is not a GST related transaction, most commonly used on financial journals such as accruals or distribution of costs between divisions. Purchase . This will impact the GST Paid/Purchases area of the BAS. Sale . This will impact GST Collected/Sales area of the BAS. Settlement. Reserved for posting GST Settlements. To determine the correct value for Gen. Posting Type, decide whether the transaction you are doing should have an impact on your BAS or not. If the answer is no, then the Gen. Posting Type must remain blank. If the answer is yes, you will...