Manual entry Accounting Entries

160 You can also call up manual reconciliation from any screen that shows accounting entries. Select entries that you want to reconcile. OpenERP indicates the sum of debits and credits for the selected entries. When these are equal you can click the Reconcile Entries button to reconcile the entries. Note: Example Real Case of Using Reconciliation Suppose that you are entering customer order details. You wonder what is outstanding on the cus- tomer account that is the list of unpaid invoices and unreconciled payments. To review it from the order form, navigate to the Partner record and select the view Receivables and Payables. OpenERP opens a history of unreconciled accounting entries on screen. Figure 13.7: Unreconciled Accounting Entries After running the Reconcile Entries wizard, these lines can no longer be selected and will not appear when the entries are listed again. If there is a difference between the two entries, OpenERP suggests you to make an adjustment. This “write-off ” is a compensating entry that enables a complete reconciliation. You must therefore specify the journal and the account to be used for the write-off. For example, if you want to reconcile the following entries: Table 13.1: Entries for reconciliation Date Ref. Description Account Debit Credit 12 May 11 INV23 Car hire 4010 544.50 25 May 11 INV44 Car insurance 4010 100.00 31 May 11 PAY01 Invoices n° 23, 44 4010 644.00 On reconciliation, OpenERP shows a difference of 0.50. At this stage you have two possibilities: • do not reconcile, and the customer receives a request for 0.50, • reconcile and accept an adjustment of 0.50 that you will take from the PL account. OpenERP generates the following entry automatically: Table 13.2: Write-off account Date Ref. Description Account Debit Credit Date Ref. Description Account Debit Credit 03 Jun 11 AJ001 Adjustment: profits and losses 4010 0.50 03 Jun 11 AJ001 Adjustment: profits and losses XXX 0.50 The two invoices and the payment will be reconciled in the first adjustment line. The two invoices will then be automatically marked as paid.

13.4 Payment Management

OpenERP gives you forms to prepare, validate and execute payment orders. This enables you to manage issues such as: 1. Payment provided on several due dates.