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ManualDoc:T2845D761A8394468BD3BA4710AA888D4

Financialaccount01.png

The essential financial account information to be filled in the top section of the financial account window is:

The next section Bank Account is visible only for accounts of the type Bank and are used to specify the bank account number. This section includes information such as:

Note that other options can be added by other modules that extend the supported Bank Account Format.

More information section can include information such as:

Let's take for instance the setup of a "Write-off Limit" amount of 1,00 $ for a given financial account.
While registering a customer's payment in the Add Payment window the system will not allow to write off an amount above the write-off limit amount defined.
Same applies to supplier's payments created by using the Add Payment window or the Payment Proposal feature.

The financial account window allows to perform below listed actions:

Contents

Transaction Tab

The transactions of a financial account can be of two types:

Those two transaction types can be created in three ways:

AddTransation.png

If it is needed to create a "Bank Fee", Select "Bank Fee" in "Transaction Type" combo, enter a transaction and accounting date and the amount either received in or paid out.
Then save and process the transaction.

BankFeeTransaction.png

To create a new G/L item transaction, select "BP Deposit" or "BP Withdrawal" in transaction type and select the "G/L Item" in the G/L item combo, enter a transaction and accounting date, select a G/L Item, enter the amount either received in or paid out and save and process the transaction. .

GLitemTransaction.png

If the user needs to create a new payment transaction it is allow to select a created payment or create a new payment from the payment selector.

SelectorPaymentTransaction.png

Description and amount fields in transaction tab will be automatically filled and to complete the transaction it is necessary to save and process.

SelectorPaymentTransaction2.png

AddPaymentTransaction.png

AddGLitemTransaction.png

Payment selector has applied a explicit filter (current financial account)

AddPaymentTransactionFilterByFA.png

It is possible to add payments for alternative financial account by clicking in the funnel icon to clear the filters.

AddPaymentTransactionNotFilter2.png

This behavior is very useful in the following scenario:

Add Multiple Payments

"Add Multiple Payments" process button available since PR15Q3, allows to create & process financial account transactions by selecting several payments at the same time.

The payments shown for selection are the ones having a payment status equal to "Payment Made" or "Payment Received", therefore payments having an "Awaiting Execution" payment status for instance will not be shown for selection.

By default the payments shown are the ones originally defined for this financial account. However the user can remove this filter to show & select payments from other financial accounts.

AddMultiplePaymentsPE.png

Only actions to take are entering a "Transaction Date" and selecting as much payments as required at once.

Payments selected are then listed as either:

in the "Transaction" tab of the Financial Account.

All those new transactions are created as already "processed", therefore can either be "reactivated" if required or finally "post" to the ledger if applicable.

Reconcile

The header process button "Reconcile" is shown for those financial accounts which do not have a matching algorithm assigned.

That button opens the "Reconciliation" window.

The reconciliation window has three main parts:

The "Beginning Balance" + the amounts "Received In" - the amounts "Paid Out" need to be equal to the "Ending Balance".

You can either enter the ending balance or what the statement says and then select the transactions paid out/received in or the other way around.

Let's take intentionally a very simple example:

Note that it is possible to create a "G/L item" transaction in case there are some minor differences between what the statements says and the recorded transactions pending to be reconciled.
FinancialAccount Difference.png

The "Save" process button saves a "Draft" of the reconciliation in the Reconciliations tab of the financial account and marks the transaction/s selected as "Cleared" as also "Cleared" in the financial account, transaction tab.
It is always possible to re-open a saved reconciliation and modify whatever it is needed.
Note that there can only be one reconciliation in draft status in a financial account.

The "Reconcile" process button reconciles the transactions marked as cleared, therefore the reconciliation is processed and its status changes to "Completed".

Finally the "Cancel" process button just closes the reconciliation window and removes the ending balanced entered if any.

Import Statement

The header process button "Import Statement" is shown for those financial accounts which do have a matching algorithm assigned. This process button allows to import a bank statement which therefore is saved in the Imported Bank Statements tab of the financial account, and in the Bank Statement Lines sub-tab.

Openbravo currently delivers the "Standard" matching algorithm. The behavior of the standard matching algorithm is explained in the next section "Match Statement".

Openbravo allows to import a bank statement if an Import Bank File Format module has been previously installed.

Openbravo currently delivers below listed import bank file modules:

Depending on the module installed for this purpose, it will be possible to import bank statement files in OFX format or CSV format among others.

The "Import Statement" process button opens the "Import Bank File" window.

Import Bank File.png

This window allows to:

Match Statement

Once a bank statement file has been imported The button "Match Statement" opens a new window where the imported bank statement lines and the existing financial transactions are displayed. By default there is an implicit filter which hides the bank statement lines that are already matched.


MatchStatement.png

Before opening the Window, a pop up will be shown, asking whether the algorithm should run against unmatched bank statement lines or not. If so, the algorithm will try to find a match for all the unmatched bank statement lines. If not, the matching Window will open and the user should do the matches manually.

Confirm.png

This window has two column groups divided by the Match column.

As already mentioned the matching algorithm available is the "Standard matching algorithm".
The Standard matching algorithm can be configured to match by different set of criteria:

Above criteria can all be selected or just some of them.


Not matched transactions can be matched manually. Let's take for instance below shown starting situation where there are two bank statement lines do not match and one match with a weak match:

MatchStatement2.png


MatchStatementSelector.png.
Back to our example, there is no transaction which matches the second transaction of the bank statement file (the one with an amount equal to 1.500,00) but the first one (the one with an amount equal to -2.500,00, that is a withdrawal). That one could be selected as an strong match from the fist bank statement line by using as well the "magnifying glass" icon.
MatchStatementAddTransaction.png
The image above shows that there was a "Received In" transaction pending to be created in the financial account. Once created it is matched.
Back to our example the current situation is shown in the image below:
MatchStatement3.png
There is only one transaction pending to be matched. The "magnifying glass" icon helps again to search for transactions to match. This time there is one transaction which almost matches as its amount is 2.500,00
MatchStatement4.png
If that one is selected Openbravo shows a message which informs that the transactions do not fully match therefore a partial match can be performed. Since Openbravo 3.0PR14Q4, the user can set the 'Match Statement: hide partial match confirmation popup' to Y for the Financial Account window to hide this confirmation message in the future (it will require to log out and log in)
MatchStatement5.png
This action matches the bank statement line and creates a new line pending to be matched for the difference.

Starting from version PR14Q2, there is a new process to be able to force both reactivating and processing reconciliations. Just in case some mistake was made, user can force system to permit reactivating old reconciliations to be able to correct that data.

This should not be the standard procedure as there should be an exercise of reviewing data before validating/processing a reconciliation. In any case, errors happens and to be able to solve the situation without a big impact for the user there are now these two buttons as advanced features.

This process will impact starting and ending balance of subsequent documents whenever ending balance changes for the reconciliation being edited.

Funds transfer

New feature available in 16Q4.

Input fields:


FundsTransferDescription.png

Process

Being in the account tab and selecting the corresponding financial account:

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