All of the details of every financial transaction must be posted (recorded) to a general ledger. In order to complete this accounting, Calypso provides an “Accounting Framework”. The accounting framework is a group of applications, engines, rules and configuration details that must be precisely defined in order to generate account entries (BOPostings or CREs) that are recorded in Calypso’s general ledger in accordance with applied accounting rules.
In this lesson you will learn about the Accounting Framework items (Accounting Books, Accounts, Accounting Engine, Accounting Events, Accounting Rules and Book Links).
In addition to learning about Calypso’s accounting framework, you will also learn how to configure each item of the accounting framework to generate BOpostings (commonly called POSTINGS) or CREs to perform accounting.