The problems
During closing periods (e.g. end of a fiscal year), reset account balance (carry the balance forward to the next period) for some accounts is a really heavy job. To get it done, accountants would need:
- To have good knowledge of their country's accounting standards on which accounts to be reset
- Calculate balance of the required accounts at the time of closing period. This also brings heavy workload to accountants and may get trouble by human errors
What this application does
- Accounting Advisor / Manager can define account balance carry forward rules. For example,
- 521 -> 511
- 511 -> 911
- etc
- Accountant can create a carry forward document which will automatically
- load all the applicable rules
- calculate the balance of all the source accounts, which will be carried forward to the next period for reviews
- Upon validation of the document, Odoo will create accounting entries for each rule. It also respect the cummulative balance by ordering. For example,
- Balance of the account 521: 100
- Balance of the account 511: 550
- The rules:
-
- The result:
- The First journal entry:
- Debit 100 on 511
- Credit 100 on 521
- The Second journal entry:
- Debit 450 (as the resul of 550-100) on 511
- Credit 450 on 911
Editions Supported
- Community Edition
- Enterprise Edition
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