Application accounting definitions are the journal entry setups including the following that are used to create subledger journal entries:
journal entry descriptions
journal line types
account derivation rules
supporting references
Flexible application accounting definitions enable you to control the manner in which subledger transactions are accounted. By providing this flexibility, the Financial Services Accounting Hub enables enterprises to tailor subledger journal entries to both local and vertical market needs. Standard cross-application features enable you to define and distribute application accounting definitions for different accounting standards and regulations.