Too Late :) Already bought your book Sharon. Can't go wrong with more information. Thanks for the details below! Especially reopening of closed periods.
-------- Original Message -------- Subject: Re: Financials ->Month End Close Procedures From: Sharan Foga <sha...@apache.org> Date: Wed, March 21, 2018 1:46 am To: <user@ofbiz.apache.org> Hi James You donât need to buy my book, to find out about this. :-) Iâve gone through the main process below with some links to the screens in our demo. So the main things you need are: Time Periods https://demo-stable.ofbiz.apache.org/accounting/control/TimePeriods?organizationPartyId=Company To make sure that your time periods (monthly ones are setup). The last time I checked OFBiz still needed the periods to be setup a bit like this Start Date 1 January 20XX End Date 1 February 20XX because the comparison for whether a transaction is within the range is a less than comparison. So setting the period end date to 31st January 20XX will miss the transactions for the 31st January. Make sure the period is active GL Account Type Defaults Account Mapping https://demo-stable.ofbiz.apache.org/accounting/control/GlAccountAssignment?organizationPartyId=Company You need a mapping to make sure that: - âProfit Loss â GL account type is mapped to your account for Net Income - 'Retained Earnings' GL account type is mapped to your account for Retained Earnings Month End Closing https://demo-stable.ofbiz.apache.org/accounting/control/TimePeriods?organizationPartyId=Company To close the month simply close the time period and Period closing accounting transaction should automatically be created and posted (Do this in the company settings not at the global GL accounts level) Period Closing Accounting Transaction To find the Period Closing Transaction, go to https://demo-stable.ofbiz.apache.org/accounting/control/FindAcctgTrans Re-opening a Closed Period You used to be able to do this via the Edit Custom Time Period screen https://localhost:8443/accounting/control/updateCustomTimePeriod but that is no longer the case. The workaround is to edit Time Period entity record to make it active. There is a flag that indicates whether the period is active or not â just change it. https://demo-stable.ofbiz.apache.org/webtools/control/FindGeneric?entityName=CustomTimePeriod - Reverse the accounting transaction for the original period closing. (Just go into the original accounting transaction and use the Revert option) - Do your accounting adjustments - Close the period again I think that having the ability to re-open a closed Time Period is a something that is quite useful so would probably suggest that we look at re-implementing something that does this. I hope this helps and if anyone else has other ideas or suggestions then please feel free to add your feedback. Thanks Sharan On 2018/03/20 13:17:56, <ja...@productive1.com> wrote: > > Can someone point me in the right direction for Month End Close > Accounting Procedures in Ofbiz. As well how to re-open a closed period? > > Thanks, > > James >
