Accounting configuration

[David Zelaya Herrera]

Hello everybody,

Some friends and I want to implement the ofbiz in some companies in Perú
(Latin América). I am studying the accounting component and I have some
questions about the accounting configuration.

When the invoice is marked Ready, the following entries are posted:

Dr. Uninvoiced Item Receipts (A)
Dr. Purchase Price Variance (Expense account), if any (B)
Cr. Accounts Payable (C)

I can get (A) and (B) of four ways (InvoiceItemType,
InvoiceItemTypeGlAccount, GlAccountTypeDefault, ProductGlAccount). But I
only can get (C) of one way (GlAccountTypeDefault).

So, if I have in GlAccountTypeDefault somethings like this:

glAccountTypeId = ACCOUNTS_PAYABLE
organizationPartyId = Company
glAccountId = 211000 (Account payable - merchandise)

When the invoice is marked ready (C) is always going to be equals to 211000.
What can I do if in some cases I want (C) to be equals to 211000 (Account
payable - merchandise) and anothers cases 212000 (Account payable -
operating)? I also want to know what new features are coming out to
accounting component?.

Thanks in advance,


David Zelaya Herrera

[Si Chen-2]

The functionality you're referring to is actually part of the  
opentaps financials module which is fully compatible with OFBiz.

Right now, purchase invoices are only credited to the configured  
Accounts Payable account.  If you want to credit to different  
payables accounts... the only idea I have right now is to extend the  
general ledger posting routine to create another invoice item type  
which posts to another accounts payable account.  This is fairly easy  
to do actually, since the ledger posting stuff is very modular.  Of  
course, if you have any other suggestions, I'd be happy to consider  
them as well.

We're planning a lot for the financials module right now.  You can  
see most of it here: http://www.opensourcestrategies.com/ofbiz/ 
ofbiz_development_roadmap.php

Si


On Oct 2, 2006, at 12:51 PM, David Zelaya Herrera wrote:

> Hello everybody,
>
> Some friends and I want to implement the ofbiz in some companies in  
> Perú
> (Latin América). I am studying the accounting component and I have  
> some
> questions about the accounting configuration.
>
> When the invoice is marked Ready, the following entries are posted:
>
> Dr. Uninvoiced Item Receipts (A)
> Dr. Purchase Price Variance (Expense account), if any (B)
> Cr. Accounts Payable (C)
>
> I can get (A) and (B) of four ways (InvoiceItemType,
> InvoiceItemTypeGlAccount, GlAccountTypeDefault, ProductGlAccount).  
> But I
> only can get (C) of one way (GlAccountTypeDefault).
>
> So, if I have in GlAccountTypeDefault somethings like this:
>
> glAccountTypeId = ACCOUNTS_PAYABLE
> organizationPartyId = Company
> glAccountId = 211000 (Account payable - merchandise)
>
> When the invoice is marked ready (C) is always going to be equals  
> to 211000.
> What can I do if in some cases I want (C) to be equals to 211000  
> (Account
> payable - merchandise) and anothers cases 212000 (Account payable -
> operating)? I also want to know what new features are coming out to
> accounting component?.
>
> Thanks in advance,
>
>
> David Zelaya Herrera

[David Zelaya Herrera]

Si,

Thanks for the answer, that idea looks good to me.
I comment to you that for the Peruvian accounting we need to credit to
different payables accounts, the choice of the account is based in the
supplier country and the currency. This distinction (of supplier country and
currency) helps us to know which accounts need an adjustment for exchange
rates. That takes me to another question. Where and when opentaps calculates
the gained or lost amount for the exchange rates?

For example if I have the next transactions:

Purchase invoice 10001 for the amount of 10000 euros. (03/10/2006 Exchange
rates from currency EUR to currency USD is 1.288)

Dr. Uninvoiced Item Receipts
Cr. Accounts Payable (10000 EUR x 1.288 = 12880 dollars)

Pay to purchase invoice 10001 (12/12/2006 Exchange rates from currency EUR
to currency USD is 1.088)


Dr. Accounts Payable (10000 EUR x 1.088 = 10880 dollars)
Cr. Payment Method GL account

My account payable was 12880 dollars and I paid 10880 dollars, I gained 2000
dollars for the exchange rates. Where can I do this operation in opentaps?




2006/10/2, Si Chen <[hidden email] >:
>
> The functionality you're referring to is actually part of the
> opentaps financials module which is fully compatible with OFBiz.
>
Right now, purchase invoices are only credited to the configured

> Accounts Payable account.  If you want to credit to different
> payables accounts... the only idea I have right now is to extend the
> general ledger posting routine to create another invoice item type
> which posts to another accounts payable account.  This is fairly easy
> to do actually, since the ledger posting stuff is very modular.  Of
> course, if you have any other suggestions, I'd be happy to consider
> them as well.
>
> We're planning a lot for the financials module right now.  You can
> see most of it here: http://www.opensourcestrategies.com/ofbiz/
> ofbiz_development_roadmap.php
>
> Si
>
>
> On Oct 2, 2006, at 12:51 PM, David Zelaya Herrera wrote:
>
> > Hello everybody,
> >
> > Some friends and I want to implement the ofbiz in some companies in
> > Perú
> > (Latin América). I am studying the accounting component and I have
> > some
> > questions about the accounting configuration.
> >
> > When the invoice is marked Ready, the following entries are posted:
> >
> > Dr. Uninvoiced Item Receipts (A)
> > Dr. Purchase Price Variance (Expense account), if any (B)
> > Cr. Accounts Payable (C)
> >
> > I can get (A) and (B) of four ways (InvoiceItemType,
> > InvoiceItemTypeGlAccount, GlAccountTypeDefault, ProductGlAccount).
> > But I
> > only can get (C) of one way (GlAccountTypeDefault).
> >
> > So, if I have in GlAccountTypeDefault somethings like this:
> >
> > glAccountTypeId = ACCOUNTS_PAYABLE
> > organizationPartyId = Company
> > glAccountId = 211000 (Account payable - merchandise)
> >
> > When the invoice is marked ready (C) is always going to be equals
> > to 211000.
> > What can I do if in some cases I want (C) to be equals to 211000
> > (Account
> > payable - merchandise) and anothers cases 212000 (Account payable -
> > operating)? I also want to know what new features are coming out to
> > accounting component?.
> >
> > Thanks in advance,
> >
> >
> > David Zelaya Herrera
>
>

--
David Zelaya Herrera

[cjhowe]

I can't speak to whether there is a specific service
in opentaps to handle this adjustment.  However, you
can always use the general ledger to make the
correcting entries.

--- David Zelaya Herrera <[hidden email]>
wrote:

> Si,
>
> Thanks for the answer, that idea looks good to me.
> I comment to you that for the Peruvian accounting we
> need to credit to
> different payables accounts, the choice of the
> account is based in the
> supplier country and the currency. This distinction
> (of supplier country and
> currency) helps us to know which accounts need an
> adjustment for exchange
> rates. That takes me to another question. Where and
> when opentaps calculates
> the gained or lost amount for the exchange rates?
>
> For example if I have the next transactions:
>
> Purchase invoice 10001 for the amount of 10000
> euros. (03/10/2006 Exchange
> rates from currency EUR to currency USD is 1.288)
>
> Dr. Uninvoiced Item Receipts
> Cr. Accounts Payable (10000 EUR x 1.288 = 12880
> dollars)
>
> Pay to purchase invoice 10001 (12/12/2006 Exchange
> rates from currency EUR
> to currency USD is 1.088)
>
>
> Dr. Accounts Payable (10000 EUR x 1.088 = 10880
> dollars)
> Cr. Payment Method GL account
>
> My account payable was 12880 dollars and I paid
> 10880 dollars, I gained 2000
> dollars for the exchange rates. Where can I do this
> operation in opentaps?
>
>
>
>
> 2006/10/2, Si Chen <[hidden email]
> >:
> >
> > The functionality you're referring to is actually
> part of the
> > opentaps financials module which is fully
> compatible with OFBiz.
> >
> Right now, purchase invoices are only credited to
> the configured
> > Accounts Payable account.  If you want to credit
> to different
> > payables accounts... the only idea I have right
> now is to extend the
> > general ledger posting routine to create another
> invoice item type
> > which posts to another accounts payable account.
> This is fairly easy
> > to do actually, since the ledger posting stuff is
> very modular.  Of
> > course, if you have any other suggestions, I'd be
> happy to consider
> > them as well.
> >
> > We're planning a lot for the financials module
> right now.  You can
> > see most of it here:
> http://www.opensourcestrategies.com/ofbiz/
> > ofbiz_development_roadmap.php
> >
> > Si
> >
> >
> > On Oct 2, 2006, at 12:51 PM, David Zelaya Herrera
> wrote:
> >
> > > Hello everybody,
> > >
> > > Some friends and I want to implement the ofbiz
> in some companies in
> > > Perú
> > > (Latin América). I am studying the accounting
> component and I have
> > > some
> > > questions about the accounting configuration.
> > >
> > > When the invoice is marked Ready, the following
> entries are posted:
> > >
> > > Dr. Uninvoiced Item Receipts (A)
> > > Dr. Purchase Price Variance (Expense account),
> if any (B)
> > > Cr. Accounts Payable (C)
> > >
> > > I can get (A) and (B) of four ways
> (InvoiceItemType,
> > > InvoiceItemTypeGlAccount, GlAccountTypeDefault,
> ProductGlAccount).
> > > But I
> > > only can get (C) of one way
> (GlAccountTypeDefault).
> > >
> > > So, if I have in GlAccountTypeDefault somethings
> like this:
> > >
> > > glAccountTypeId = ACCOUNTS_PAYABLE
> > > organizationPartyId = Company
> > > glAccountId = 211000 (Account payable -
> merchandise)
> > >
> > > When the invoice is marked ready (C) is always
> going to be equals
> > > to 211000.
> > > What can I do if in some cases I want (C) to be
> equals to 211000
> > > (Account
> > > payable - merchandise) and anothers cases 212000
> (Account payable -
> > > operating)? I also want to know what new
> features are coming out to
> > > accounting component?.
> > >
> > > Thanks in advance,
> > >
> > >
> > > David Zelaya Herrera
> >
> >
>
>
> --
> David Zelaya Herrera
>

[Si Chen-2]

David,

The setup of the accounts payable could be accomplished by adding a  
PartyGlAccountTypeSetting or some kind of entity and then adding a  
simple Util method to check it.  This should be pretty easy to do.  I  
don't really have this planned, but if you'd like to work on it, I  
can help you.

The foreign exchange matching is not something that is supported  
right now.  Again, if you'd like to work on it, I can help you with  
it.  It would be a good feature to have and, in my opinion, maybe a  
little harder but also higher priority than the other task.

Also, since the financials module is not officially a part of ofbiz,  
maybe we should discuss it here instead:
http://sourceforge.net/forum/forum.php?forum_id=540292


Si

On Oct 3, 2006, at 1:55 PM, David Zelaya Herrera wrote:

> Si,
>
> Thanks for the answer, that idea looks good to me.
> I comment to you that for the Peruvian accounting we need to credit to
> different payables accounts, the choice of the account is based in the
> supplier country and the currency. This distinction (of supplier  
> country and
> currency) helps us to know which accounts need an adjustment for  
> exchange
> rates. That takes me to another question. Where and when opentaps  
> calculates
> the gained or lost amount for the exchange rates?
>
> For example if I have the next transactions:
>
> Purchase invoice 10001 for the amount of 10000 euros. (03/10/2006  
> Exchange
> rates from currency EUR to currency USD is 1.288)
>
> Dr. Uninvoiced Item Receipts
> Cr. Accounts Payable (10000 EUR x 1.288 = 12880 dollars)
>
> Pay to purchase invoice 10001 (12/12/2006 Exchange rates from  
> currency EUR
> to currency USD is 1.088)
>
>
> Dr. Accounts Payable (10000 EUR x 1.088 = 10880 dollars)
> Cr. Payment Method GL account
>
> My account payable was 12880 dollars and I paid 10880 dollars, I  
> gained 2000
> dollars for the exchange rates. Where can I do this operation in  
> opentaps?
>
>
>
>
> 2006/10/2, Si Chen <[hidden email] >:
>>
>> The functionality you're referring to is actually part of the
>> opentaps financials module which is fully compatible with OFBiz.
>>
> Right now, purchase invoices are only credited to the configured
>> Accounts Payable account.  If you want to credit to different
>> payables accounts... the only idea I have right now is to extend the
>> general ledger posting routine to create another invoice item type
>> which posts to another accounts payable account.  This is fairly easy
>> to do actually, since the ledger posting stuff is very modular.  Of
>> course, if you have any other suggestions, I'd be happy to consider
>> them as well.
>>
>> We're planning a lot for the financials module right now.  You can
>> see most of it here: http://www.opensourcestrategies.com/ofbiz/
>> ofbiz_development_roadmap.php
>>
>> Si
>>
>>
>> On Oct 2, 2006, at 12:51 PM, David Zelaya Herrera wrote:
>>
>> > Hello everybody,
>> >
>> > Some friends and I want to implement the ofbiz in some companies in
>> > Perú
>> > (Latin América). I am studying the accounting component and I have
>> > some
>> > questions about the accounting configuration.
>> >
>> > When the invoice is marked Ready, the following entries are posted:
>> >
>> > Dr. Uninvoiced Item Receipts (A)
>> > Dr. Purchase Price Variance (Expense account), if any (B)
>> > Cr. Accounts Payable (C)
>> >
>> > I can get (A) and (B) of four ways (InvoiceItemType,
>> > InvoiceItemTypeGlAccount, GlAccountTypeDefault, ProductGlAccount).
>> > But I
>> > only can get (C) of one way (GlAccountTypeDefault).
>> >
>> > So, if I have in GlAccountTypeDefault somethings like this:
>> >
>> > glAccountTypeId = ACCOUNTS_PAYABLE
>> > organizationPartyId = Company
>> > glAccountId = 211000 (Account payable - merchandise)
>> >
>> > When the invoice is marked ready (C) is always going to be equals
>> > to 211000.
>> > What can I do if in some cases I want (C) to be equals to 211000
>> > (Account
>> > payable - merchandise) and anothers cases 212000 (Account payable -
>> > operating)? I also want to know what new features are coming out to
>> > accounting component?.
>> >
>> > Thanks in advance,
>> >
>> >
>> > David Zelaya Herrera
>>
>>
>
>
> --
> David Zelaya Herrera

Best Regards,

Si
[hidden email]

[David Zelaya Herrera]

Chris, Si,

Thanks for the anwers, I am going to be working with this tasks.
For now on I am going to put all my questions about the financial component
in this forum:  http://sourceforge.net/forum/forum.php?forum_id=540292

Regards,

2006/10/4, Si Chen <[hidden email]>:

>
> David,
>
> The setup of the accounts payable could be accomplished by adding a
> PartyGlAccountTypeSetting or some kind of entity and then adding a
> simple Util method to check it.  This should be pretty easy to do.  I
> don't really have this planned, but if you'd like to work on it, I
> can help you.
>
> The foreign exchange matching is not something that is supported
> right now.  Again, if you'd like to work on it, I can help you with
> it.  It would be a good feature to have and, in my opinion, maybe a
> little harder but also higher priority than the other task.
>
> Also, since the financials module is not officially a part of ofbiz,
> maybe we should discuss it here instead:
> http://sourceforge.net/forum/forum.php?forum_id=540292
>
>
> Si
>
> On Oct 3, 2006, at 1:55 PM, David Zelaya Herrera wrote:
>
> > Si,
> >
> > Thanks for the answer, that idea looks good to me.
> > I comment to you that for the Peruvian accounting we need to credit to
> > different payables accounts, the choice of the account is based in the
> > supplier country and the currency. This distinction (of supplier
> > country and
> > currency) helps us to know which accounts need an adjustment for
> > exchange
> > rates. That takes me to another question. Where and when opentaps
> > calculates
> > the gained or lost amount for the exchange rates?
> >
> > For example if I have the next transactions:
> >
> > Purchase invoice 10001 for the amount of 10000 euros. (03/10/2006
> > Exchange
> > rates from currency EUR to currency USD is 1.288)
> >
> > Dr. Uninvoiced Item Receipts
> > Cr. Accounts Payable (10000 EUR x 1.288 = 12880 dollars)
> >
> > Pay to purchase invoice 10001 (12/12/2006 Exchange rates from
> > currency EUR
> > to currency USD is 1.088)
> >
> >
> > Dr. Accounts Payable (10000 EUR x 1.088 = 10880 dollars)
> > Cr. Payment Method GL account
> >
> > My account payable was 12880 dollars and I paid 10880 dollars, I
> > gained 2000
> > dollars for the exchange rates. Where can I do this operation in
> > opentaps?
> >
> >
> >
> >
> > 2006/10/2, Si Chen <[hidden email] >:
> >>
> >> The functionality you're referring to is actually part of the
> >> opentaps financials module which is fully compatible with OFBiz.
> >>
> > Right now, purchase invoices are only credited to the configured
> >> Accounts Payable account.  If you want to credit to different
> >> payables accounts... the only idea I have right now is to extend the
> >> general ledger posting routine to create another invoice item type
> >> which posts to another accounts payable account.  This is fairly easy
> >> to do actually, since the ledger posting stuff is very modular.  Of
> >> course, if you have any other suggestions, I'd be happy to consider
> >> them as well.
> >>
> >> We're planning a lot for the financials module right now.  You can
> >> see most of it here: http://www.opensourcestrategies.com/ofbiz/
> >> ofbiz_development_roadmap.php
> >>
> >> Si
> >>
> >>
> >> On Oct 2, 2006, at 12:51 PM, David Zelaya Herrera wrote:
> >>
> >> > Hello everybody,
> >> >
> >> > Some friends and I want to implement the ofbiz in some companies in
> >> > Perú
> >> > (Latin América). I am studying the accounting component and I have
> >> > some
> >> > questions about the accounting configuration.
> >> >
> >> > When the invoice is marked Ready, the following entries are posted:
> >> >
> >> > Dr. Uninvoiced Item Receipts (A)
> >> > Dr. Purchase Price Variance (Expense account), if any (B)
> >> > Cr. Accounts Payable (C)
> >> >
> >> > I can get (A) and (B) of four ways (InvoiceItemType,
> >> > InvoiceItemTypeGlAccount, GlAccountTypeDefault, ProductGlAccount).
> >> > But I
> >> > only can get (C) of one way (GlAccountTypeDefault).
> >> >
> >> > So, if I have in GlAccountTypeDefault somethings like this:
> >> >
> >> > glAccountTypeId = ACCOUNTS_PAYABLE
> >> > organizationPartyId = Company
> >> > glAccountId = 211000 (Account payable - merchandise)
> >> >
> >> > When the invoice is marked ready (C) is always going to be equals
> >> > to 211000.
> >> > What can I do if in some cases I want (C) to be equals to 211000
> >> > (Account
> >> > payable - merchandise) and anothers cases 212000 (Account payable -
> >> > operating)? I also want to know what new features are coming out to
> >> > accounting component?.
> >> >
> >> > Thanks in advance,
> >> >
> >> >
> >> > David Zelaya Herrera
> >>
> >>
> >
> >
> > --
> > David Zelaya Herrera
>
> Best Regards,
>
> Si
> [hidden email]
>
>
>
>
>

--
David Zelaya Herrera
[hidden email]