GL Chart of Accounts

[Wicus]

Hi,

Can someone please explain the following entries' necessities  / relation and in more layman's terms ?

1.) GL Account Id                : required : Specific GL account's number
2.) GL Account Type Id         : required : Income & Expense referenced would result in the creation of the Income Statement, whereas all other references would result in the creation of the Balance Sheet
3.) GL Account Class Id        : not       : or rather applicable as explained in point 2
4.) GL Resource Type Id       : ?          : Only references is "MONEY" .... ?
5.) GL Xbrl Class Id              : ?          : No Idea ....
6.) Parent GL account Id       : ?          : Applicable if this is a sub-ledger
7.) Account Code                 :            : Same as point 1
8.) Account Name                :            : Descriptive Name
9.) Description                     :           : Lenghtier description
10.) Product Id:                   : ????     : ?????

Be warned   :)    Novice at work ;)

Thanks

[Wicus]

No response yet ....

Very simply stated, I can not see the difference between

GL account Type Id
GL account Class Id

Should GL account Id refer to creating the Financial Statements, what is the purpose of GL account Class Id ?

Thanks

[Jacques Le Roux]

Hi Wicus,

Have a look at applications/accounting/data/AccountingTypeData.xml

Jacques

From: "Wicus" <[hidden email]>

>
> No response yet ....
>
> Very simply stated, I can not see the difference between
>
> GL account Type Id
> GL account Class Id
>
> Should GL account Id refer to creating the Financial Statements, what is the
> purpose of GL account Class Id ?
>
> Thanks
> --
> View this message in context: http://www.nabble.com/GL-Chart-of-Accounts-tp20702023p20810318.html
> Sent from the OFBiz - User mailing list archive at Nabble.com.
>

[Bilgin Ibryam]

Hi Wicus,

The best way to understand these entities is through reading  
Accounting chapter from Data Model Resource Book v1.
If you search in the ML, you can also find useful information about  
these entities.
Here is one http://ofbiz.markmail.org/search/?
q=glaccountclassid#query:glaccountclassid+page:1+mid:k2zt3vyuycf32xye+state:results

Bilgin

On Dec 3, 2008, at 12:27 PM, Wicus wrote:

>
> No response yet ....
>
> Very simply stated, I can not see the difference between
>
> GL account Type Id
> GL account Class Id
>
> Should GL account Id refer to creating the Financial Statements,  
> what is the
> purpose of GL account Class Id ?
>
> Thanks
> --
> View this message in context: http://www.nabble.com/GL-Chart-of-Accounts-tp20702023p20810318.html
> Sent from the OFBiz - User mailing list archive at Nabble.com.
>

[Sharan-F]

Hi Wicus

Your question on the Wiki got me interested so I decided to do a bit of investigation. I took a look at the xml reference from Jacques and also the Global GL settings generally.

Remember - I'm an OFBiz novice too but my first thoughts are this:

The GL Account Class Id  does appear to be some form on account classification for reporting purposes. The diagram in the xml refers to the Debit / Credit accounting equation and shows the breakdown into the different type of accounts. It maybe that this is already used to generate the on screen reports.

The GL Account Type Id appears to be something else. Yes – it does look like a classification system too but it also appears to have a link to the type of transactions that are posted to the account. The GL Account Type Id is also used in the GL Account Defaults to specify the default account that certain transactions (eg Accounts Payable', 'Customer Deposits' etc) are posted to. So you could see it as a way of translating a business transaction into an actual accounting transaction.

I think the most confusing thing between the two is that some of the values are duplicated (eg Current Asset, Current Liability, etc) and I'm not sure that they should be. What I mean here is that perhaps they should only be showing as one of the values – not both. If you look at the Global Chart some of the GL Account Type Ids are blank.

The only real way to find out for sure is to have a go at setting it up in various ways and see what happens. I'll continue my work on the accounting documentation but I'd be interested to know if  you find out any more on this.

Thanks
Sharan

Wicus wrote

No response yet ....

Very simply stated, I can not see the difference between

GL account Type Id
GL account Class Id

Should GL account Id refer to creating the Financial Statements, what is the purpose of GL account Class Id ?

Thanks