Loading
Salesforce now sends email only from verified domains. Read More
Insurance
Table of Contents
Filter by (0)Add
Select Filters

          No results
          No results
          Here are some search tips

          Check the spelling of your keywords.
          Use more general search terms.
          Select fewer filters to broaden your search.

            Search all of Salesforce Help
            Search all of Salesforce Help
            Create General Ledger Account Assignment Rules

            You are here:

            1. Salesforce Help
            2. Docs
            3. Digital Insurance

            Create General Ledger Account Assignment Rules

            General Ledger Account Assignment Rules determine how transaction journals are posted to the correct general ledger (GL) accounts. These rules define when a journal entry is created, which transaction amount is used, and which debit and credit accounts are assigned based on configurable criteria.

            Required Editions

            Available in: Lightning Experience
            Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled

            You can create and use General Ledger Account Assignment Rules, also referred to as journal entry rules, to automate GL postings.

            Example
            Example : Assigning GL Accounts for a Posted Invoice

            Consider a policy that is fully billed on a single invoice with the following details:

            • One invoice line with a premium amount of $1,000
            • Invoice date of January 8
            • Legal entity: US

            When the invoice is posted, the premium amount must be reflected in the appropriate receivable and payable accounts in the general ledger. Using General Ledger Account Assignment Rules, you can define this behavior as follows:

            • Trigger condition: Invoice status equals Posted
            • Source amount: Charge Amount from the Invoice Line
            • Debit account: 1210 - Premium Receivable
            • Credit account: 2110 - Accounts Payable
            • Applicability criteria: Legal Entity equals US

            When the invoice transitions to the Posted status, the system automatically generates a journal entry for $1,000, debiting the Premium Receivable account and crediting the Accounts Payable account. This journal entry accurately represents the financial impact of the posted invoice

             
            Loading
            Salesforce Help | Article