Question

What do you define when you create a new document type?Note: There are 2 correct answers to this question.

1) Number range for the document type
2) Posting keys for the document type
3) Reasons for reversal
4) Account types allowed for posting

Answer 1

When creating a new document type, you can define the number range for the document type and the account types allowed for posting.

Step-by-step explanation:

When creating a new document type, there are several elements that can be defined. Two correct answers to this question are:

1. Number range for the document type: This refers to the range of numbers that can be assigned to documents of this type. For example, invoice numbers or purchase order numbers can be defined within a specific range for easier organization and tracking.
2. Account types allowed for posting: This determines the types of accounts that can be used when posting transactions with this document type. For instance, a specific document type may only allow posting to revenue accounts or asset accounts, depending on the nature of the transaction.