On Jul 30, 2009, at 1:03 PM, Sharan-F wrote:
Hi Sumit
Thanks for your reply and your work on accounting! It sounds good -
I'll
take a look on the online demo. I assume this is in the trunk and
not 9.04.
One comment though - you seem to be describing bank statement
reconciliation
here and not a generic chart of account reconciliation. What I mean
here is
that you may want to reconcile your inventory account or perhaps
some form
of clearing account account etc. Some of these transactions are
driven off
bank account transactions but not all of them. Although I used a 'bank
statement' as an example in my email the reconciliation process
should be
pretty generic for any type account in the chart of accounts.
Anyway - I'm keen to take a look and understand what you've done and
see how
this reconciliation process will work. I'll then update the online
documentation to reflect it.
Thanks Sharan for this, I really appreciate your efforts and comments
for any missing functionality.
--
Thanks And Regards
Sumit Pandit
Thanks
Sharan
Sumit Pandit-3 wrote:
Hello sharan,
Please find comments inline -
On Jul 30, 2009, at 7:45 AM, Sharan-F wrote:
Hi
I've done some work on documenting the OFBiz accounting
functionality and
yes it does post unreconciled transactions.
Thanks for the documentation, Please provide link to it, I'll
bookmark
it for future reference.
Whether you allow the system to do this is dependent on what
business
process you want to implement. Some businesses will do their
reconciliations
on posted transactions and then do any resulting reversals or
adjustments,
others may want to reconcile the transactions before they post. I've
seen it
done both of these ways.
I think the question to ask is which way does your business do it
now? (And
do they want to keep doing it in the future?)
From what I've seen of the account reconciliation functionality in
OFBiz I
personally would say that it's not complete. For example it doesnt
show
whether its a debit or credit transaction or if the amount to be
reconciled
is increasing or reducing the balance in account. It also does not
'carry
forward' any balance of a previous reconciliation done on an
account.
I like to think of account reconciliation like a bank statement that
you
receive each month. It has an opening balance that should be the
same as the
closing balance of your previous statement. It then shows each
transaction
as a positive or a negative with a resulting balance on each line
and a
final closing balance (that will be the start of your next
statement).
Here is little description of Reconciliation Process -
When we receive/issue a SENT/RECEIVED payment (by Deposit / Withdraw)
(
https://localhost:8443/accounting/control/FindPaymentsForDepositOrWithdraw?finAccountId=9000&organizationPartyId=Company
)
then it will create an Financial Accounting Transaction in CREATED
status. (FinAccountTrans in created status means it will not update
the balance of your FinAccount).
Then from Bank Reconciliation screen under Transaction tab (
https://localhost:8443/accounting/control/FindFinAccountTrans?finAccountId=9000
), you can reconcile your transaction from bank statement.
(
https://localhost:8443/accounting/control/BankReconciliation?finAccountId=9000&statusId=FINACT_TRNS_CREATED
)
On select your transaction and click on Reconciliation it will update
set the Fin Account Trans status to APPROVED that means your payment
is deposited/withdraw and it will reflect in your Fin Account
balance.
Also just FYI to verify this process - I am looking for writing a
JUnit test case for the same process which will verify the FinAccount
balance before and after reconciliation.
Not sure if this was the type of response you were looking for but
hope it
helps.
Thanks
Sharan
snowch wrote:
In r9.04 it is possible to post unreconciled transactions. The
transaction have to be reverted to be reconciled. Is this the
desired
functionality?
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