[OFBiz] Dev - Accounting: Clarification on creating manual Journal entries

[Brett Palmer]

David,

Yes, your comments were very helpful and somewhat entertaining if I
don't keep singing that song all day long.  ;)

All the comments on this thread were helpful.  One of my objectives in
working on the accounting module is to create a complete General
Ledger solution that could work for any company similar to how
companies use Intuit's QuickBooks or even Oracle Financials at the
higher-end.  I think if we can accomplish that then automating the
accounting processes for the E-commerce engine and other modules would
be straight forward.

Any comments on this objective are always appreciated.

Brett


On Sat, 8 Jan 2005 00:53:05 -0700, David E. Jones <jonesde at ofbiz.org> wrote:
> 
> These entities may be best described with something in the form of the
> bone song, the one where one bone connects to another, which connects
> to another, and so on...
> 
> Before I write the little song, note that the GlJournal entity does NOT
> have to be used, and is probably best left unused for automated
> transactions, it is really more designed for manual transaction, or for
> very complex related automated sets of transactions that consist of
> multiple AcctgTrans records.
> 
> The list of records you included is pretty much right, minus the typos
> (like debug instead of debit), but I think I know what yo meant.
> 
> So, an AcctgTrans (Accounting Transaction) is basically a financial
> event in the system, and consists of multiple "entries"
> (AcctgTransEntry) each of which represent a debit or credit to a
> GlAccount, and all of these entries when added up should result in the
> debit and credit totals being equal, or it isn't a valid transaction.
> 
> So:
> 1. AcctgTrans is connected to the AcctgTransEntry (via a shared PK,
> like you said, the acctgTransId)
> 2. AcctgTransEntry is connected to the GlAccount (via a glAccountId on
> the AcctgTransEntry)
> 3. Optional: the AcctgTrans is connected to the GlJournal (via a
> glJournalId on the AcctgTrans)
> 
> Hope that helps....
> 
> -David
> 
> 
> On Jan 7, 2005, at 9:48 AM, Brett Palmer wrote:
> 
> > David,
> >
> > In creating a journal entry in the accounting module I wanted to
> > confirm my understanding of the relationship between the GlAccount,
> > AcctgTrans, and AcctgTransEntry entities for my implementation.  Here
> > is the scenario:
> >
> > A company receives $15,000 cash from the owner, J. Green.
> > Hypothetically, in a book form of the General Journal the entry could
> > be created as follows:
> >
> > 1.  Description:  Owner investment for capital equipment
> >
> > 2.  Effected Accounts
> >
> >      Acct Name            Debit               Credit
> >      Cash                      15,000
> >      J. Green Capital                             15,000
> >
> >
> > In OFBiz to save this Journal entry we would perform the following
> > operations:
> >
> > 1.  Create an GlJournal entry
> > 2.  Create an acctgTrans entry with the newly created GlJournal record
> > 3.  Create two acctgTransEntry records with the same acctgTransId
> > (from step 2) and two different acctgTransEntrySeqId.  For example:
> >
> > seqId: 1
> > glAccountId: Cash
> > amount: 15,000
> > debitCreditFlag: Debug
> >
> > seqId: 2
> > glAccountId: J. Green Capital
> > amount: 15,000
> > debitCreditFlag:  Credit
> >
> > Then after the journal entry is posted the appropriate records would
> > be updated with the posted flag.
> >
> > Am I making the correct assumptions about the records that would be
> > created in the journal creation process?  It looks like most of the
> > create services already exist, but I may need to correct a common
> > service that combines the above operations into a single service.
> > Your feedback (and anyone else listening to this thread) is greatly
> > appreciate.
> >
> > Thanks,
> >
> > Brett
> >
> > _______________________________________________
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> > Dev at lists.ofbiz.org
> > http://lists.ofbiz.org/mailman/listinfo/dev
> 
> 
> 
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