Chart of Accounts India
The Indian COA file is designed for a start up manufacturing entity who would be maintaining their finances in openbravo.
Once installed and applied as described here, the Indian Chart of Accounts module creates:
- an "Account Tree" which can be reviewed in the "Account Tree" window
- and it also creates a defaulted "General Ledger Configuration".
Besides, the "General Accounts" such as "Income Summary" account and the "Default" accounts such as "Customer Receivables", "Tax Due" and "Tax Credit" are also provided and properly configured within
the General Ledger configuration window.
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:
L : Equities and Liabilities
A : Assets
R : Revenues
E : Expenses
PL: Statement of Profit and Loss
V : Profit Before Exceptional , Extra ordinary items and Tax.
999: Temporary Accounts.
Additionally, the corresponding "Subaccounts" are also provided for the Openbravo's "Defaults" account configuration within the "General Ledger Configuration" Window. See next section.
The structuring as well as the account names used are based on revised Schedule VI to the Companies Act, 1956.
Adding new subaccounts
If the user wants to add more subaccounts within the account tree he can do so by adding them manually in the "Account Tree" window. Those subaccounts can be move up/down within the account tree as required.
After that the account tree can be exported by using the extension module Account Tree Export. This modules creates a csv file which can later on be imported and applied while creating new Clients/Organizations.
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", including "General Accounts" and "Defaults" accounts tabs.
Dated on 02-04-2013 the first reviewed version of this module (2.0.0) is published in "QA Approved" maturity status to be installed in Openbravo 3 MP21.
|Release Date||Module Version Number||Openbravo Version Number||Forge Link|
|02-04-2013||2.0.0||3.0.0 MP21||Chart of Accounts India|