Answer / kim khan

AutoAccounting is a powerful, flexible, and time saving
feature that automatically creates your general ledger
Accounting Flexfields. You can set up AutoAccounting to
create Accounting Flexfields that meet your business needs.

When you run AutoAccounting, Receivables

Assigns valid Accounting Flexfields to your invoices and
credit memos.

Automatically generates valid Accounting Flexfields for your
Freight, Receivable, Revenue, AutoInvoice Clearing, Tax,
Unbilled Receivable, and Unearned Revenue Accounts.

Controls how your Accounting Flexfields are created and
defined.

Receivables automatically creates default Accounting
Flexfields for your revenue, freight, receivable, and tax
accounts for each invoice and credit memo. AutoAccounting
also creates the proper unearned revenue or unbilled
receivable accounting entries you need when you use
invoicing and accounting rules. You can quickly enter your
invoices and credit memos without worrying about entering
the correct account.

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