Openbravo manual settlement

A payment is a credit pending to collect from a customer then it will be marked as receipt , or an obligation to pay some amount to a supplier. Apart from the receipt characteristic, there exist three flags associated to a payment in Openbravo:.

An invoice consists of some lines with products, amounts, etc. When an invoice is filled in and passes to the completed state, taxes are recalculated automatically and the grand total amount of the invoice the sum of the lines, plus the sum of the taxes is calculated.

An invoice will have a concrete payment term. When completing the invoice, the corresponding payments are automatically created, according to those payment terms, with its corresponding dates.

The sum of the payments amounts will always be equal to the grand total amount of the invoice. Before completing the invoice, a payment can be manually created for it.

If one or more payments were created manually for the invoice, two things can occur:. A new purchase order PO is created. The most common way to add payments to the system is through invoices, but it is not the only one. Payments can also be created through manual settlements and bank statement lines: we will see afterwards.

A payment will be pending in the system until the debt is paid off, that is, until a money transfer takes place through a bank statement or a cash journal. There is an exception: a payment can be transformed grouped with some other payments into only one payment, or divided into smaller payments through a settlement, so the original payment is settled, and some new ones are created.

All these situations are controlled through the three flags associated to a payment. Since release 2. The output for this process would be:. A settlement is an operation with one or more payments. Using a settlement, one or more payments are marked as cancelled, and some others created.

This is useful, for example, for grouping some payments into only one payment, or dividing a payment into some smaller ones. Only payments with no flag activated are suitable to be transformed through a settlement.

On 10th January, Customer C phones Company A advising that there was an error in the invoice's prices. On 10th January, a settlement is created. On 1st April, a bank check arrives at Company A from Customer C and is sent to the bank, is then collected by the bank and the money deposited in the bank account. A bank statement is created and the Payment P3 is added to the bank statement. The last step in the receivables and payables process is to perform a bank reconciliation: this is the process of matching and comparing figures from accounting records against those presented on a bank statement Wikipedia.

In this process some differences may appear, highlighting the bank statements not registered in the system. Then the bank statements left are created, locating the payments paid or collected in that bank statement. When creating a bank statement or a cash journal element in the system, a payment must be associated to it. Only two types of payments are able to be included in a bank statement or a cash journal:. Once the bank statement is processed, the payment involved in it will have the three flags activated, so the payment will be settled.

When a bank statement is created in the system, one or more existing payments have to be included in the bank statement. If the payment that we want to pay or collect in the bank statement does not exist already, it can be created. Notice that this is only possible in the case of the bank statement and no with a cash journal.

Each area is represented by a separate folder accessible from the Application menu in the top navigation screen area:. General Setup is the place where to configure basic Openbravo settings such as the enterprise model, users and roles as well as other more advance setting such as alerts, preferences and processes. Mater Data is a central repository of data where key information such as business partners and products can be created, configured and therefore shared accross other Openbravo application areas.

Procurement Management supports the management of the orders, goods receipts and purchase invoices as well as the analysis of purchase related data. Warehouses and storage bins can be created and manage in this application area, as well as inventory count and inventory valuation.

Production Management monitors the production processes and activities as well as support the analysis of production related data. MRP provides the tools to plan and monitor purchase and production planning by tracking several inputs such as sales forecast and current stock levels.

Sales Management addresses the life-cycle of a sales process and besides provides the tools to analyze sales related information. Project and Services Management addresses services and multiphase projects and helps on analyzing project related reports.

The "Financial Management" area supports daily accounting activities such as payable and receivable accounts management, assets amortization as well as the opening and closing of the accounting year. There are a series of How To documents addressing areas of special interest. Otherwise, the document number field will not be filled in correctly. English Translate this article This page has been accessed 17, times. This page was last modified on 14 June , at View source Discuss this page Page history Printable version.

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