Ask the Accounting Community

This message has been cross posted to the following Discussions: Financial Planning and Analysis and Answer Exchange P2P Support .
-------------------------------------------
Dear All,

I'm trying to set up a ledger accrual scheme for the insurance, but I failed to make it successfully, I just don't get it and what I expect is that the system will automatically posts the transactions when accrued.

From the Accrual scheme/ General tab I need to understand the following:

1. what is the purpose of the Debit and Credit account fields since in the example scenario asks to put the same account in both?
2. What's the difference between Period frequency and Posting frequency?
3. Why I need to reselect the debit and credit accounts in the general journal since I should define them in scheme?

Thank you,

-------------------------------------------
Mohammad Abu Baker
Supervisor
Nablus
Palestinian Territory, Occupied
-------------------------------------------