Parent Category: Compiere



Compiere doesn't do core banking.  It is capable of it, the but has never been field tested.  It has all the core functionality that is required and implentation can be undertaken by Compiere.  It has  built in security in both the application and the database and building out funcionality is relatively straight forward. And Compiere's access to the current Business intellegence tool makes reporting and KPI dashboards first rate.

Safety Deposit Boxes

The that banks can use the functionality of Compiere to manage their safe deposit box systems.  And Compiere contract safety deposit boxes that all locations they can log the customer in and out.  Compiere can use biometric devices as verification options.  Compiere can track payments and NT boxes of any size at any location and put them on the dashboard for easy identification.


Vault Operations

Compiere can provide tools to handle vault operations it can provide operational information for all cash and securities held in one or multiple vaults.  It can interact with the core banking system information.  The clients can send in their cash and securities by a armored car or other secure transport.  Clients can notify the bank through secure communications their deposit instructions.  Manifests for transport can be said or delivered for shipping and receiving the shipments at either end of the chain.


ATM control

Compiere can handle replenishment of the ATMs for the financial institution.  The containers are filled at the vault and delivered to the location.  That returning containers are counted and verified back the vault.  That the main operating system of the bank would record of causes and withdrawals and Compiere can handle and details of the delivery and pickup to the vault.  


Financial Tracking

Compiere can track financial instruments. Historic costs, current value, any data that is published by a securities house. Capmiere can also presnt the data on a dashboard for immediate review.

Banking management

Compiere automates the management of your banking relationships with support for:

•  Loading bank statements with payment allocation, using OFX, IFX and SWIFT formats.

•  Ease of transferring money between banks

•  Creation of payments directly in the bank statement to handle direct deposits.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.


Compiere can reconcile all the bank accounts automatically. Once the import from the financial institution has been implemented the system will match recognised dates and entities. Additional manual intervention is necessary for some unusual account information. Compiere will also reconcile the enterprise charge cards.
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Multiple accounts

Compiere supports parallel accounting standards for any combination of the  following:

•  Accrual and cash-based accounting 

•  Multiple accounting standards (e.g., US GAAP, UK SAP, German HGB) 

•  Multiple inventory costing methods (e.g., Standard, Average, FIFO) 

 Multiple Currencies 

Usually, a “Set of Books” is defined as a set of transactions with the same  Chart of Accounts, Calendar, Accounting Currency, Accounting Standard and  Costing Method. Compiere addresses situations where this is not sufficient with  support for parallel accounting through the concept of an Accounting Schema. An  Accounting Schema is any combination of the following:

Chart of Accounts 

•  Accrual or Cash-based accounting 

•  Accounting standard 

•  Costing method 

•  Accounting currency 

Compiere can have multiple COA's for many reasons, budgeting alternate divisions or companies  


In contrast to a “Set of Books”, a Calendar is not directly part of an  Accounting Schema, meaning you may have multiple calendars per accounting  schema. The calendar is reduced to transaction support functions including  open/close periods, summary postings and allocation definition for ease of  entry.


Compiere can consolidate across multiple organisations. It can also consolidate multiple departments. When the enrties are made automatically the reports will reflect the necessary changes to the accounts. The reports can be tailored to the enterprises reporting requirements.
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