Journal categories help you differentiate journal entries by purpose or type, such as accrual, payments or receipts. When you enter journals, you specify a category.
Defining Journal Categories
You can define intercompany and suspense accounts for specific categories. You can also use document sequences to sequentially number journal entries by category. Journal categories appear in standard reports, such as the General Journals report. General Ledger provides the predefined journal categories shown in the following table:
2. Enter a unique Name and Description for your journal category. You cannot delete a category after saving your work.
3. (Optional) Specify the Reversal Method you want to use for this category in the Reversal Criteria window.