What Are Daybooks?
Posted on: September 19, 2018 | By: Andy Vitullo | QAD Financials
Daybooks, also known as Journals, represent a group of transactions. In modern accounting software systems, daybooks can represent a collection of transactions from a given day or a collection of transactions from a specific source.
In QAD’s Enterprise Edition (EE) Software daybooks are required to configure and enable use of the EE software. A source programs that create financial transactions will assign a specific daybook to the general ledger. For example, a purchase order receipt transaction will always have a unique daybook code in general ledger transactions. This will allow the users to quick group and analyze general ledger transaction results.
During EE software configuration, lever operational transaction type code values to create the analogous code values for daybook codes. Using this approach, the shipment transaction history type from the inventory module is “ISS-SO”. Assign a code value for this daybook equal to “ISS-SO”. With the same code value, the accounting team can be assured that the source or the daybook transaction is from the sales order shipment programs.
Roughly 80 to 120 daybook codes are required for configuration depending on your organization structure and the complexity of configuration required for your EE environment.
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