After the Accounting Subledger job runs, it generates debit and credit entries differently for revenues and expenses.
| Available in: Lightning Experience |
| Available in: Enterprise, Performance, Unlimited, and Developer Editions with Accounting Subledger |
When creating accounting sets, always verify the type—revenue or expense—with your accounting team. Just as the transactions related to revenue and expenses are different, so are the debits and credits that we generate from them. Let's look at a few transaction journal records as examples.
Revenues
If you select Revenue for an accounting set, a transaction of US$150 generates a debit of $150 to your asset account, and a credit of $150 to your revenue account.
| Date | Description | Account Type | Debit | Credit |
|---|---|---|---|---|
| 5/15/2021 | Donation | Asset | $150 | — |
| 5/15/2021 | Donation | Revenue | — | $150 |
| — | — | — | $150 | $150 |
Expenses
Conversely, if you select Expense for your accounting set, then that same transaction generates a credit of $150 to your asset account, and a debit of $150 to your expense account.
| Date | Description | Account Type | Debit | Credit |
|---|---|---|---|---|
| 5/15/2021 | Donation | Asset | — | $150 |
| 5/15/2021 | Donation | Expense | $150 | — |
| — | — | — | $150 | $150 |
We recommend that you don't change an existing accounting set's record type after you generate transaction journal records. Instead, inactivate the existing accounting set and create another set with the correct type.