financial account

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financial account

consolex
Ok im playing around with ofBiz as a single person. I am studying the GL-Ledger, as i am computer science student im not that familiar with financial things.... My question is:

What is a financial Account? What are financial accounts for? Is there a gl-account for a single customer or is  just one gl-account for all customers?

thx so much, any line would be helpful.
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Re: financial account

Sharan-F
Hi

I'm fairly new to OFBiz myself and I'm not sure of the exact definition of what financial accounts are but I can work out what they do by what they're being used for. There appears to be a few uses for them.

a) used to track prepaid customer accounts where a customer puts money in the account and then uses it to pay for items that they buy from you
b) used to store details of a gift certificate where you can buy a credit or voucher that you can pass onto someone else to spend (just like instead of buying someone a present you give them a voucher that they can spend in their favourite shop)
c) used to track details of a gift card - this is similar to a gift certificate but can be recharged so can be used over and over again.

I'm sure there are other uses but these are the ones that I've seen so far.

On the GL side - the default setup groups the financial account transactions together for all customers into one GL account but you can change it. Personally I would set it up to have an account per customer as it would be easier to track and manage.

Hope this helps.

Thanks
Sharan

consolex wrote
Ok im playing around with ofBiz as a single person. I am studying the GL-Ledger, as i am computer science student im not that familiar with financial things.... My question is:

What is a financial Account? What are financial accounts for? Is there a gl-account for a single customer or is  just one gl-account for all customers?

thx so much, any line would be helpful.