Import Invoices 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. 161 2. Automatic payment dates. 3. Separating payment preparation and payment approval in your company. 4. Preparing an order during the week containing several payments, then creating a payment file at the end of the week. 5. Creating a file for electronic payment which can be sent to a bank for execution. 6. Splitting payments depending on the balances available in your various bank accounts. 13.4.1 How to Manage your Payment Orders? To use the tool for managing payments you must first install the module account_payment, or install Supplier Payments from the Configuration Wizard. It is part of the core OpenERP system. The system lets you enter a series of payments to be carried out from your various bank accounts. Once the different payments have been registered you can validate the payment orders. During validation you can modify and approve the payment orders, sending the order to the bank for electronic funds transfer. For example if you have to pay a supplier’s invoice for a large amount you can split the payments amongst several bank accounts according to their available balance. To do this you can prepare several Draft orders and validate them once you are satisfied that the split is correct. This process can also be regularly scheduled. In some companies, a payment order is kept in Draft state and payments are added to the draft list each day. At the end of the week the accountant reviews and confirms all the waiting payment orders. Once the payment order is confirmed there is still a validation step for an accountant to carry out. You could imagine that these orders would be prepared by an accounts clerk, and then approved by a manager to go ahead with payment. Tip: Payment Workflow An OpenERP workflow is associated with each payment order. Select a payment order and if you are in the GTK client click Plugins → Print workflow from the top menu. You can integrate more complex workflow rules to manage payment orders by adapting the workflow. For example, in some companies payments must be approved by a manager under certain cash flow or value limit conditions. Figure 13.8: Payments Workflow In small businesses it is usually the same person who enters the payment orders and who validates them. In this case you should just click the two buttons, one after the other, to confirm the payment.

13.4.2 Prepare and Transfer Orders

To enter a payment order, use the menu Accounting → Payment → Payment Orders.