Configure Account Posting Setup

Overview

In addition to using Company Setup to define what GL Accounts should be used for posting, GoldFinch also uses the Account Posting Setup to map Customer/Vendor Accounts and/or Items to GL Accounts when a sale or purchase transaction is posted.

Steps

You can access the Account Posting Setup from the Company Setup page or the Item page as a related list.

The Account Posting Setup is used to define the following GL Accounts:

• Sales

• Sales Return

• Sales Discount

• COGS

• Purchase

• Purchase Return

Based on the transaction type, GL Accounts must be configured in the Account Posting Setup. Without this setup, posting transactions will not be allowed.

GoldFinch follows this hierarchy to determine which GL Accounts to use when posting transactions:

If the Item Posting Group on the Item is blank:

1. First, GoldFinch will search for an Account Posting Setup record where both the Account Posting Group (defined on the Customer or Vendor account) and the Item (entered on the transaction line) are specified.

2. If no match is found, GoldFinch will search for an Account Posting Setup record where the Account Posting Group is blank, but the Item entered on the transaction line is specified.

3. If still no match is found, GoldFinch will look for an Account Posting Setup record where the Account Posting Group (defined on the Customer or Vendor account) is specified, but the Item is left blank.

4. If none of the above combinations are found, GoldFinch will look for an Account Posting Setup record with both the Account Posting Group and the Item set to blank, which serves as the company-wide default.

If the Item Posting Group on Item is not blank:

1. First, GoldFinch will search for an Account Posting Setup record where the Account Posting Group (defined on the Customer or Vendor account) and the Item Posting Group of the item on the transaction line are both specified.

2. If no match is found, GoldFinch will look for an Account Posting Setup record with the Account Posting Group blank but the Item Posting Group specified.

3. If no match is found, GoldFinch will search for an Account Posting Setup record where the Account Posting Group (defined on the Customer or Vendor account) is specified but the Item Posting Group is left blank.

4. If none of the above combinations are found, GoldFinch will look for an Account Posting Setup record with both the Account Posting Group and the Item Posting Group left blank.

On each Account Posting Setup, you can configure the setup either by Item or by Item Posting Group, but not both at the same time.

Article Configure-Account-Posting-Setup  ·  Last updated October 03, 2025 · GoldFinch ERP Help Center