Some example of issues for Closing Fiscal Year: 'balance' accounts: ========================================================================= Period Account Debit Credit Balance FY07 FY08 FY07+08 ====== ======= ===== ====== ======= ==== ==== ======= OPEN07 X X 01/07 Cash 100 100 X X 01/07 Capital 100 -100 X X 02/07 Cash 150 150 X X 02/07 Capital 150 -150 X X 03/07 X X 04/07 X X ... X X 12/07 X X ADJ/07 X X ====== ======= ===== ====== ======= ==== ==== ======= OPEN08 Cash 250 250 X OPEN08 Capital 250 -250 X 01/08 X X ... X X 12/08 X X ADJ/08 X X
This figure illustrates some things. As has been discovered by other accounting softwares, you need some additional periods. We need two additional periods in each fiscal year. One for recording the opening balances and one for recording the adjustments ordered by the accountant. The figure also shows that for fiscal year reports you include both the opening period and the adjustment period. If you want to report over a range of fiscal years then you include the very first opening period in the range but leave out the intervening opening periods. I'll be adding more to this... Regards, Gerry -------------------- m2f -------------------- -- http://www.openerp.com/forum/viewtopic.php?p=24844#24844 -------------------- m2f -------------------- _______________________________________________ Tinyerp-users mailing list http://tiny.be/mailman/listinfo/tinyerp-users
