General Account Determination

Question

1.Whre do we account purchase offset account. whether it is   a Expense A/c or Incomes Account
2.  What account we can assign for Sales Credit Account And Purchase Credit Account  . ?
3.  How we can differentiate Expense and Incomes of a busines for each department wise by using dimension?
Please Help me to clear this doubts.
Thanks

Answer 1

Pradeep,
1.Whre do we account purchase offset account. whether it is a Expense A/c or Incomes Account
<font color="Blue">  By Purchase Offset account are you referring to the Allocation Account? (Allocation account is used when you receive Goods through Goods Receipt PO and you owe money to the vendor for this).
If so then you need to select an account for the Liability drawer as it is a current liability. 
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2. What account we can assign for Sales Credit Account And Purchase Credit Account . ?
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The Sales Credit Account is affected when you create a Credit Memo and similarly the Purchase Credit Account when you create a AP Credit Memo.  The G/L Account for the Sales Credit Account typically is the  Sales Revenue Account since it is reversal of Sales Revenue and likewise on the purchase side
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3. How we can differentiate Expense and Incomes of a busines for each department wise by using dimension?
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I believe  by "dimension" you are referring to GL segmentation.  If so, you are correct the department wise categorization of Exps and Inc can be done through GL Segmenetation.
Example:
Travel Expense (Sales) 620000-10
Travel Expense (Management) 620000-20
As you see above, 10 and 20 are segments pertaining to each department
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