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[ADD] journals: explain journals and accounts #14503

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159 changes: 12 additions & 147 deletions content/applications/finance/accounting/bank.rst
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Expand Up @@ -13,7 +13,7 @@ account. Both the journal and the account are automatically created and configur
a bank account.

.. note::
Cash journals and accounts must be configured manually.
:ref:`Cash journals <accounting/journals/cash>` and accounts must be configured manually.

Bank journals are displayed by default on the :guilabel:`Accounting Dashboard` in the form of cards
which include action buttons.
Expand All @@ -29,9 +29,9 @@ Manage bank and cash accounts
Connect a bank for automatic synchronization
--------------------------------------------

To connect your bank account to your database, go to :menuselection:`Accounting --> Configuration
--> Add a Bank Account`, select your bank in the list, click on :guilabel:`Connect`, and follow the
instructions.
To connect your bank account to your database, go to the :guilabel:`Accounting Dashboard` and on the
kanban card of an unconnected bank, click :guilabel:`Search over 26000 banks`. Select your bank from
the list, click on :guilabel:`Connect`, and follow the instructions.

.. seealso::
:doc:`bank/bank_synchronization`
Expand All @@ -44,153 +44,18 @@ Create a bank account
If your banking institution is not available in Odoo, or if you don't want to connect your bank
account to your database, you can configure your bank account manually.

To manually add a bank account, go to :menuselection:`Accounting --> Configuration --> Add a Bank
Account`, click on :guilabel:`Record transactions manually` (at the bottom right), fill out the bank
information, and click :guilabel:`Create`.
To manually add a bank account, go to the :guilabel:`Accounting Dashboard` and on the kanban card of
an unconnected bank, click :guilabel:`Search over 26000 banks`. Then, click on :guilabel:`Record
transactions manually` (at the bottom right), fill out the bank information, and click
:guilabel:`Create`.

.. note::
- Odoo automatically detects the bank account type (e.g., IBAN) and enables some features
accordingly.
- A default bank journal is available and can be used to configure your bank account by going to
:menuselection:`Accounting --> Configuration --> Accounting: Journals --> Bank`. Open it and
edit the different fields to match your bank account information.

Create a cash journal
---------------------

To create a new cash journal, go to :menuselection:`Accounting --> Configuration --> Accounting:
Journals`, click on :guilabel:`Create` and select :guilabel:`Cash` in the :guilabel:`Type` field.

For more information on the accounting information fields, read the
:ref:`accounting/bank/configuration` section of this page.

.. note::
A default cash journal is available and can be used straight away. You can review it by going to
:menuselection:`Accounting --> Configuration --> Accounting: Journals --> Cash`.

Edit an existing bank or cash journal
-------------------------------------

To edit an existing bank journal, go to :menuselection:`Accounting --> Configuration --> Accounting:
Journals` and select the journal you want to modify.

.. _accounting/bank/configuration:

Configuration
=============

You can edit the accounting information and bank account number according to your needs.

.. image:: bank/bank-journal-config.png
:alt: Manually configure your bank information

.. seealso::
- :doc:`get_started/multi_currency`
- :doc:`bank/transactions`
- `Bank configuration <https://www.youtube.com/watch?v=tVhhXw-VnGE>`_

.. _accounting/bank/suspense:

Suspense account
----------------

Bank statement transactions are posted on the suspense account until they are reconciled. At any
moment, the suspense account's balance in the general ledger shows the balance of transactions that
have not yet been reconciled.

.. note::
When a bank transaction is reconciled, the journal entry is modified to replace the bank suspense
account with the account of the journal item it is reconciled with. This account is usually the
:ref:`outstanding receipts or payments account <accounting/bank/outstanding-accounts>` if
reconciling with a registered payment or the account receivable or payable if reconciling with
an invoice or bill directly.

Profit and loss accounts
------------------------

The :guilabel:`Profit Account` is used to register a profit when the ending balance of a cash
register differs from what the system computes, while the :guilabel:`Loss Account` is used to
register a loss when the ending balance of a cash register differs from what the system computes.

Currency
--------

You can edit the currency used to enter the transactions.

.. seealso::
:doc:`get_started/multi_currency`

.. _accounting/bank/account-number:

Account number
--------------

If you need to **edit your bank account details**, click on the external link arrow next to your
:guilabel:`Account Number`. On the account page, click on the external link arrow next to your
:guilabel:`Bank` and update your bank information accordingly. These details are used when
registering payments.

.. image:: bank/bank-account-number.png
:alt: Edit your bank information

Bank feeds
----------

:guilabel:`Bank Feeds` defines how the bank transactions are registered. Three options are
available:

- :guilabel:`Undefined yet`, which should be selected when you don’t know yet if you will
synchronize your bank account with your database or not.
- :guilabel:`Import (CAMT, CODA, CSV, OFX, QIF)`, which should be selected if you want to import
your bank statements and transactions using a different format.
- :guilabel:`Automated Bank Synchronization`, which should be selected if your bank is synchronized
with your database.

.. seealso::
- :doc:`bank/bank_synchronization`
- :doc:`bank/transactions`

.. _accounting/bank/outstanding-accounts:

Outstanding accounts
====================

By default, payments in Odoo do not create journal entries, but they can easily be configured to
create journal entries using **outstanding accounts**.

- An **outstanding receipts account** is where incoming payments are posted until they are linked
with incoming bank transactions.
- An **outstanding payments account** is where outgoing payments are posted until they are linked
with outgoing bank transactions.

These accounts are usually of :ref:`type <chart-of-account/type>` :guilabel:`Current Assets` and
:guilabel:`Current Liabilities`.

Payments that are registered in Odoo are posted to the outstanding receipts and outstanding accounts
until they are reconciled. At any moment, the outstanding receipts account's balance in the general
ledger shows the balance of registered incoming payments that have not yet been reconciled, and the
outstanding payments account's balance in the general ledger shows the balance of registered
outgoing payments that have not yet been reconciled.

Bank and cash journal configuration
-----------------------------------

To configure payments to create journal entries, set outstanding accounts for the journal's payment
methods. This can be done for any journal with the :ref:`type <chart-of-account/type>`
:guilabel:`Bank` or :guilabel:`Cash`.

To configure the outstanding accounts for a journal's payment methods, first go to
:menuselection:`Accounting --> Configuration --> Journals` and select a bank or cash journal. In the
:guilabel:`Incoming Payments` and :guilabel:`Outgoing Payments` tabs, set :guilabel:`Outstanding
Receipts accounts` and :guilabel:`Outstanding Payments accounts` for each payment method that you
want to create journal entries.

.. note::
- If the main bank account of the journal is added as an outstanding receipts account or
outstanding payments account, when a payment is registered, the invoice or bill's status is
directly set to :guilabel:`Paid`.
- If the outstanding receipts or outstanding payments account for a payment method is left blank,
registering a payment with that payment method will not create any journal entry.
- A default :ref:`bank journal <accounting/journals/bank>` is available and can be used to
configure your bank account by going to :menuselection:`Accounting --> Configuration -->
Accounting: Journals --> Bank`. Open it and edit the different fields to match your bank
account information.

.. toctree::
:titlesonly:
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1 change: 1 addition & 0 deletions content/applications/finance/accounting/get_started.rst
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Expand Up @@ -191,6 +191,7 @@ Get started with Stripe and enable secure integrated credit and debit card payme
get_started/cheat_sheet
get_started/chart_of_accounts
get_started/consolidation
get_started/journals
get_started/multi_currency
get_started/avg_price_valuation
get_started/tax_units
94 changes: 44 additions & 50 deletions content/applications/finance/accounting/get_started/chart_of_accounts.rst
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Expand Up @@ -54,45 +54,45 @@ Correctly configuring the **account type** is critical as it serves multiple pur
To configure an account type, open the :guilabel:`Type` field's drop-down selector and select the
corresponding type from the following list:

+---------------+--------------+-------------------------+
| Report | Category | Account Types |
+===============+==============+=========================+
| Balance Sheet | Assets | Receivable |
| | +-------------------------+
| | | Bank and Cash |
| | +-------------------------+
| | | Current Assets |
| | +-------------------------+
| | | Non-current Assets |
| | +-------------------------+
| | | Prepayments |
| | +-------------------------+
| | | Fixed Assets |
| +--------------+-------------------------+
| | Liabilities | Payable |
| | +-------------------------+
| | | Credit Card |
| | +-------------------------+
| | | Current Liabilities |
| | +-------------------------+
| | | Non-current Liabilities |
| +--------------+-------------------------+
| | Equity | Equity |
| | +-------------------------+
| | | Current Year Earnings |
+---------------+--------------+-------------------------+
| Profit & Loss | Income | Income |
| | +-------------------------+
| | | Other Income |
| +--------------+-------------------------+
| | Expense | Expense |
| | +-------------------------+
| | | Depreciation |
| | +-------------------------+
| | | Cost of Revenue |
+---------------+--------------+-------------------------+
|Other | Other | Off-Balance Sheet |
+---------------+--------------+-------------------------+
+---------------+-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| Report | Category | Account Types | Description |
+===============+=============+=========================+=================================================================================================================+
| Balance Sheet | Assets | Receivable | Money owed to the company by customers for goods or services delivered |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Bank and Cash | Funds held in company bank accounts or on hand as cash |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Current Assets | Short-term assets expected to be converted into cash within a year |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Non-current Assets | Long-term assets not expected to be converted to cash within a year |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Prepayments | Payments made in advance for goods or services to be received in the future |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Fixed Assets | Tangible long-term assets like buildings, machinery, and vehicles used in operation and subject to depreciation |
| +-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | Liabilities | Payable | Money the company owes to suppliers or vendors |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Credit Card | Balances and transactions associated with company credit card usage |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Current Liabilities | Obligations due within one year, such as short-term loans or accrued expenses |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Non-current Liabilities | Long-term debts and financial obligations due beyond one year |
| +-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | Equity | Equity | The owner's residual interest in the company after liabilities are deducted from assets |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Current Year Earnings | The company's net profit or loss accumulated in the current fiscal year |
+---------------+-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| Profit & Loss | Income | Income | Revenue generated from the company's primary business activities |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Other Income | Revenue from secondary or non-operational sources, like interest or asset sales |
| +-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | Expense | Expense | Costs incurred during operations to generate revenue |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Depreciation | The allocation of the cost of tangible assets over their useful life |
| | +-------------------------+-----------------------------------------------------------------------------------------------------------------+
| | | Cost of Revenue | Direct costs attributable to the production or delivery of goods and services |
+---------------+-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+
| Other | Other | Off-Balance Sheet | Transactions not displayed on the balance sheet or profit and loss report |
+---------------+-------------+-------------------------+-----------------------------------------------------------------------------------------------------------------+

Assets
~~~~~~
Expand Down Expand Up @@ -156,18 +156,12 @@ and select :guilabel:`Hierarchy and Subtotals`.
Allow reconciliation
--------------------

Some accounts, such as accounts made to record the transactions of a payment method, can be used for
the reconciliation of journal entries.
To keep the reconciliation process simple, when reconciling a bank, cash, or credit card transaction
with an existing journal item, only journal items that debit or credit accounts with the
:guilabel:`Allow reconciliation` option enabled are displayed as possible matches.

For example, an invoice paid with a credit card can be marked as :guilabel:`paid` if reconciled with
its payment. Therefore, the account used to record credit card payments needs to be configured as
**allowing reconciliation**.

To do so, check the :guilabel:`Allow Reconciliation` box in the account's settings, and
:guilabel:`Save`; or enable the button from the chart of accounts view.

.. image:: chart_of_accounts/chart-of-accounts-reconciliation.png
:alt: Allow reconciliation for accounts in Odoo Accounting
To enable this option on an account, tick the :guilabel:`Allow Reconciliation` checkbox in the
account's settings, and :guilabel:`Save`; or enable the button from the chart of accounts view.

.. _coa_shared_accounts:

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