Chart of Accounts China
Contents |
Introduction
The China COA file included in this module is designed for Joint-stock enterprises registered in Chinese mainland and published by Chinese authority.
The industry it covers is: retail, distribution, trading, manufacturing, finance (bank, security, insurance) etc.
The latest update follows the official recommendations for year 2014.
This is a standard chart of accounts version, therefore few changes will be necessary based on this version for most companies.
Once installed and applied while running either the initial client setup process or the initial organization setup process, China Chart of Accounts module creates:
- An "Account Tree" which can be reviewed in the "Account Tree" window
- The default accounts setup in the "General ledger configuration", "Defaults" tab.
This default account setup is used for the normal account posting which is also called voucher generation in daily sales and purchase (warehouse transaction included) procedures. - Necessary Heading accounts and Customized Elements to produce a Balance Sheet and a Profit And Loss Reporting that respects the Official Recommendations.
Account tree
To check the "Account Tree" structure, follow these steps:
1. Login as Administrator of your Client.
2. Go to Financial Management -> Accounting -> Setup -> Account Tree or just type 'Account Tree' in 'Quick Launch window'.
3. You will see the accounting structure as below:
Prefixes are used for every account tree element: "Headings", "Breakdown", "Account" and "Sub-Account" so that the classification is easy for the user to understand and follow.
Following prefixes are used:
BS : "资产负债表项目" (Balance Sheet)
1000:"资产类"(Assets)
2000:"负债类"(Liability)
3000:"共同类"(Comma)
4000:"所有者权益类"(Owner's equity)
5000:"成本类"(Cost)
PL : "利润表项目" (Profit&Loss)
6000:"损益类"(Profit&Loss)
Additionally, the corresponding "Subaccounts" are also provided for the Openbravo's "Defaults" account configuration within the "General Ledger Configuration" Window. See next section.
According to the real business circumstances, financial users could add or delete "sub-accounts" for the common usage as described here.
General ledger configuration
To check the defaulted "General Ledger Configuration" follow these steps;
1. Login as the Administrator of your client.
2. Go to Financial Management -> Accounting -> Setup -> General Ledger Configuration or just type 'General Ledger Configuration' in 'Quick Launch window'.
3. Select the Ledger Configuration for a specific organization or the one created for all organizations (* Organization).
4. Check the defaulted configuration imported for the "General Ledger", in "Defaults" accounts tabs.
Posting rule
The rule of posting is according to normal Chinese accounting operation routine.
After the module installation, the posting result can be shown after making "posting" action in different document generation such as goods receipt, sales invoice, etc
Normally, the result from rule will be as follows:
Please note that this module does not modify "Openbravo Default Posting Rules", posting results described above corresponds to Default Accounts for China choice.
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