About Transaction and Offset Accounts
Transaction GL Accounts
Offset GL Accounts
The Offset Acct identifies the offsetting GL account for the Transaction account. You should only need these for transactions that are posting additional costs or making accrual or reversal entries. They are not required on transactions that are merely to correct an equipment code, component, cost type, or cost code, or when you enter two transactions that offset each other or use the same account.
Offset accounts will be used any time you modify the detail records in another batch. If you do not assign an offset account, you must create an ‘offsetting’ transaction (i.e. another transaction to balance the first transaction). Any amount of the current batch not yet distributed to offsetting accounts displays in the ‘Undistributed’ section at the top of the form (above the tab pages).
If you enter a non-stocked material, this account defaults based on the Non-Stocked GL Account stored in HQ Material Categories for the specified material. If you specify a stocked material, this account defaults based on the Equipment Sales account designated for the specified location in IN Locations. When you process the batch, the update creates a credit entry to the Inventory account and a debit entry to the Cost of Goods Sold account (both defined in IN Locations).