Skip to Content
This question has been flagged
4 Replies
2424 Views
Avatar
samba

Go to Accounting -> periodic processing -> End of period -> Generate opening entries. when i generate opening entries with this menu two exrea accounts coming. Those are default credit and debit accounts of opening journal. I don't have that much knowledge on accounting system. Does this right way followed by openerp people?. So the general entry generating eventough the entry not balanced. In my point of view they are balncing the entry with default credit and debit acccounts of opening journal. I want to show pop up like normal journal entry when entry not balanced in opening entries generation also. What i have to do?
 

Avatar
Discard
Avatar
Janeesh
Best Answer

Hi,

When we are generating opening entries for a new fiscal year, Revenue and Expense will be zero. These revenues and expenses in previous year are transferred into the default debit and credit account configured for the journal.

Avatar
Discard
samba
Author

Thank you, Janeesh . I have to give "Revenue" account a debit account and "Expense" account as credit account for journal opening. Is it possible to show opening of particular account of a month in openerp?

samba
Author

But these two accounts (Default credit and debit accounts of opening journal) Not getting effect if we add balance entry. I have little bit confusion with your answer. Please Give me some clarity on this issue. You said that "revenues and expenses in previous year are transferred into the default debit and credit account configured for the journal". Here i am considering the journal is "opening journal". If i add balance entry, default debit and credit accounts of opening journal not getting effect in the entry.

Avatar
Roy Mathew
Best Answer

When we are generating opening entries for a new fiscal year, Revenue and Expense will be zero. These revenues and expenses in previous year are transferred into the default debit and credit account configured for the journal

Avatar
Discard