How to configure journals

Odoo Accounting Journal Entries: An accounting journal is a record of transaction exchanges requested by date, these transactions are recorded in the name of journal entries. Each journal entry shows account names and their credits and debit values.

In Odoo we can create different types of journals. Sales, Purchase, cash, Bank, and miscellaneous are the basic five types of journals in Odoo. Each journal types have different rules like sales journal used to post sent customer invoices, purchase journal used to post received vendor bills, cash type journal used to track daily cash transactions as well as the received customer payments, bank for posting your bank statements, track customer or vendor payments and all other transactions recorded by your associated bank account, then the last one is Miscellaneous journal type, it is used for anything that doesn’t fit into the above types.

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