What is meant by Split postings?
"Split postings" refers to the splitting of a single transaction into multiple sub-transactions across different accounts or cost centers. This is often used to break down complex transactions or expenses to obtain more detailed accounting information.
Typical functions of software in the "Split postings" area include:
- Splitting of transactions: Ability to split a single transaction or expense into multiple sub-transactions and allocate them to different accounts or cost centers.
- Customizable splitting: Flexibility to customize the split according to individual requirements, including the ability to allocate percentage or fixed amounts.
- Review and approval: Features for reviewing and approving split transactions by authorized users to ensure accuracy and control.
- Linking of sub-transactions: Ability to link sub-transactions together to clarify the relationships between different transactions or costs.