How to set the Initial Balance for Bank,cash

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Girish Shete

Posts: 2

Joined: Sat Mar 28, 2009 8:59 pm

Post Mon Mar 23, 2009 6:31 am

How to set the Initial Balance for Bank,cash

Hi,
I want to set the initial balance for both cash book and different bank accounts.How to set it so that
it will show in cash report and Bank report as initial balance.



Thank you..
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Iván Perdomo

Posts: 2014

Joined: Wed Mar 18, 2009 7:25 pm

Post Mon Mar 23, 2009 6:58 am

RE: How to set the Initial Balance for Bank,cash

Hi,

This is a development related forum and your question is more related to 'Functionality'. Can you please post your question in the 'Functionality' forum: http://forge.openbravo.com/plugins/espforum/browse.php?group_id=100&forumid=615117

Best Regards,

Iván
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Thirumalai Kandasami

Posts: 392

Joined: Wed Mar 18, 2009 7:26 pm

Post Mon Mar 23, 2009 9:59 am

RE: How to set the Initial Balance for Bank,cash

How do I configure the initial accounting setup of a new client?

The main accounting data needed for a new client is:

1. Bank accounts initial balance
2. Initial balance data (accounts balance)

In order to stablish the initial balance of a bank account, next steps must be followed:

* Create a new manual settlement dated the last day of the previous period (ie if our first year is going to be 2008, then the manual settlement's date will be 31st Dec. 2007):
o Create Payment:
+ Amount: initial balance of the bank account.
+ BP: any.
+ Form of payment: bank deposit.
o Balance Payment:
+ G/L Item: any
+ Credit amount: initial balance of the bank account.

Process it, and DO NOT POST IT.

Create a bank statement that includes the payment created in the manual settlement, and with the same date. Complete the bank statement, and DO NOT POST IT.

In order to create the initial balance of the accounts, create the year in which accounting is going to start, and the periods of that year, and open the first period. Create then a G/L Journal, and add lines to create manually the opening entry for the year (this will be done authomatically for the rest of the years. Only the starting year will be done manually). Post this entry, and that's it.


Source:
http://wiki.openbravo.com/wiki/Technical_FAQ_about_Openbravo_ERP
Thanks,
Thirumalai.

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