ManualDoc:T8391062D5C6A47EA94A83A304AD720BE

As shown in the image above below listed accounts can be configured for a financial account and general ledger.

General section:

• Bank Revaluation Gain Account, this account is used to credit/debit an exchange rate gain:
  • The gain corresponding to an exchange rate decreased while making a payment is credited in this account.
  • The gain corresponding to an exchange rate increase while receiving a payment is credited in this account.

Remember that it is possible to receive payments and to make payments in a currency different to the financial account currency.

In case of a "Cash" Financial Account type, the ledger account used to credit an exchange rate gain is the "Bank Revaluation Gain" account of the Defaults tab of the General Ledger Configuration.

• Bank Revaluation Loss Account used to debit/credit an exchange rate loss :
  • The loss corresponding to an exchange rate increase while making a payment is debited in this account.
  • The loss corresponding to an exchange rate decrease while receiving a payment is debited in this account.

In case of a "Cash" Financial Account type, the ledger account used to credit an exchange rate gain is the "Bank Revaluation Loss" account of the Defaults tab of the General Ledger Configuration.

• Bank Fee Account used to debit/credit fee expenses/revenues

The checkbox Enable Bank Statement allows to post Bank Statements. If selected two additional fields are shown:

• Bank Asset Account
• Bank Transitory Account

As a bank statement posting is a transitory posting until the transactions have been finally cleared, the "Bank Transitory Account" must be the same account as the one used upon clearing.

As soon as a "Bank Transitory Account" is defined, the system shows a warning stating that "When posting Bank Statements, the Bank Transitory Account should match the account used upon clearing for all payment methods in order to ensure properly balanced accounting. Do you want to propagate this value to all payment methods?"

• If the end-user press (YES), the system fills-in the Bank Transitory Account selected in the field "Cleared Payment Account" of the "Payment IN" and "Payment OUT" sections.

Payment IN / Payment OUT sections:

These sections of the accounting configuration tab are closely related to another tab of the financial account window that is the Payment Method tab.

The Payment Method tab allows to define which step of the payment workflow can be posted to the ledger. That can be defined for each payment method assigned to the financial account

The "Accounting Configuration" tab allows to select the ledger accounts to use while posting in transit payments in/out, deposit/withdrawal transactions or reconciliations linked to a given payment method.

It is important to remark that:

• None of the fields of the "Payment In" and "Payment Out" section are mandatory as the accounting process can be different depending on the payment method configuration.
• However if any of those fields is "empty" for instance the "Deposit Account", while it has been configured for a given payment method assigned to the financial account that the "Deposit" transaction needs to be posted, the posting process will generate an error.

More in detail:

Payment In section:

• In Transit Payment Account - This is the account which would be used in the first step, when the receipt of the payment is registered in the "Payment In" window.
  The Payment Method used should have the value "In Transit Payment Account" defined in the field "Upon Receipt use".
• Deposited Payment Account - This is the account which would be used to post the second phase that is the "Deposit" of the receipt in the Financial Account. The Payment Method used should have the value "Deposited Payment Account" defined in the field "Upon Deposit use".
• Cleared Payment Account - This is the account which would be used to post the third step that is the reconciliation of the deposit. The payment method used should have the value ""Cleared Payment Account" defined in the field "Upon Reconciliation use".

Payment out section:

• In Transit Payment Account - This is the account which would be used in the first step, when the payment is made in the "Payment Out" window. The Payment Method used should have the value "In Transit Payment Account" defined in the field "Upon Payment use".
• Withdrawal Payment Account - This is the account which would be used to post the second phase that is the "Withdrawal" of the payment in the Financial Account. The Payment Method used should have the value "Withdrawal Payment Account" defined in the field "Upon Withdrawal use".
• Cleared Payment Account - This is the account which would be used to post the third step that is the reconciliation of the withdrawal. The Payment Method used should have the value "Cleared Payment Account" defined in the field "Upon Reconciliation use".