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The master default party is 'Company' but preferences can also be setup for internal departments. The demo data shows some examples of this (eg Marketing, Accounting, Sales, Development etc). Unless overridden then then all other parties appearing on this screen will take their default setup from 'Company'

The majority of the configuration information displayed in Accounting Preferences are taken from the Enumeration entity.

What is it used for?

It is used for setting specifying information related to the accounting setup for a specific organisation or parties that exist within an organisation such as business units, cost centres, departments ,subsidiaries etc.

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