Accounting

Parent Category: Compiere

An Accounting Schema is a combination of a national accounting standard (e.g. US GAAP), a Costing Method (e.g. Average Invoice or standard), a Accounting Basis (Accrual or Cash) and a currency. Compiere allows you to define multiple Accounting Schemas so you can maintain books for financial reporting and data for management decision making in parallel. It also eliminates the cumbersome tasks of conversion, transformation, and consolidation of foreign subsidiaries and allows for the easy separation of management and legal reporting. Each Accounting Schema defines several parameters for General Ledger processing. These include the type of error handling and method of currency balancing to use. Additionally, the accounts used for Retained Earnings, Inter-Company transactions and Balancing are defined.

Accounting – COA
The Accounting Schema defines the default accounts to be used for system generated transactions (e.g. accounting for AR Invoices). These accounts are used as default values for Business Partners, Products, Warehouse, Project, Bank, Taxes and Cash Book.Read more..

Budgeting
In most instances there will be no need to enter manual GL Journals. Unlike most system, Compiere automatically generates and posts the accounting consequences or Journals for every document processed. - Read more..

Banking
An Accounting Schema is a combination of a national accounting standard (e.g. US GAAP), a Costing Method (e.g. Average Invoice or standard), a Accounting Basis (Accrual or Cash) and a currency.Read more..

Reconciliation
An Accounting Schema is a combination of a national accounting standard (e.g. US GAAP), a Costing Method (e.g. Average Invoice or standard), a Accounting Basis (Accrual or Cash) and a currency.Read more..

Multiple accounts
An Accounting Schema is a combination of a national accounting standard (e.g. US GAAP), a Costing Method (e.g. Average Invoice or standard), a Accounting Basis (Accrual or Cash) and a currency.Read more..
Consolidations
An Accounting Schema is a combination of a national accounting standard (e.g. US GAAP), a Costing Method (e.g. Average Invoice or standard), a Accounting Basis (Accrual or Cash) and a currency.Read more..

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