Community mailing list archives

community@mail.odoo.com

Re: Batch Deposits in Odoo 9 Enterprise

by
Eficent Business and IT Consulting Services, S.L.
- 07/23/2015 10:00:11
Fabien,

I have now read the document "how to handle checks?", and I agree with it completely. I will review the doc.

However from the Batch Deposit perspective,and for scenario 2/, I lack the following entry to be created when the Batch Deposit is printed:
Dr. Bank
Cr. Undeposited Checks

There should exist a single journal entry created with the complete batch deposit amount, with the possibility to add the deposit slip reference # stated by the bank.

Then, when your bank statement the system could easily match the statement line of the batch deposit with the journal entry that was previously created.

See how cashbook application handles it:

Regards,
Jordi.

On Thu, Jul 23, 2015 at 3:23 PM, Fabien Pinckaers <fp@odoo.com> wrote:

Jordi,

There are two approaches on how accountants handle checks, depending on the country.

1/ US, France (SMEs)

The payment by check is posted directly, like a payment, and a bank reconciliation is done afterwards. --> a bank journal, and a check payment method.

2/ Belgium, US bigger companies

Two journal entries (first check, then statement), with a "undeposited fund" account. --> two journals, and the UF account configured on the check journal.

Both are used, depending on the habits of accountants. And Odoo supports both. And we should explain both.

I think I documented both flows in the doc "how to handle checks?". (Not sure, I cant check as I am on my mobile) Have a look at it.

I have tested bank deposit for 1/ and it works, but not for 2/. (But it should work too, otherwise we will fix it)

@arthur
There is may be a domain to remove since we create the deposit in one journal (checks) and use it in another one (bank)

Fabien

On 23 Jul 2015 04:17, "Jordi Ballester Alomar" <jordi.ballester@eficent.com> wrote:
Hello,

I am preparing the documentation about Batch Deposits of Checks for Odoo 9 Enterprise. Currently testing the feature. 

I'm not sure if the feature is finished or not, but I'm not finding it to be correct from an accounting perspective. Perhaps you can guide me on how to proceed.

The procedure that I would consider as standard process to handle Batch Deposits is documented here:


In Odoo 9 the procedure to create a deposit is as follows:
1. Select invoices that you want to pay, and indicate as payment method 'Batch Deposit' and put the quantity to pay. This will create a single payment.
Inline image 1

This is not accurate, since a batch deposit per se is not a payment method. A customer pays by cash, credit card, check, ... The company can then prepare batch deposits for cash or checks and take them to the bank.

This will create the following journal entry:
Dr. Bank
Cr. Accounts Payable

This would not be accurate. The journal entries to be created should be:
Dr. Undeposited Checks
Cr. Accounts Payable


2. Create a new Batch Deposit, and add the payments that need to be deposited
This is not creating any journal entry at all. Just letting you print.
Inline image 2
This would not be accurate. When the Batch Deposit is created, it should create a new journal entry as follows:
Dr. Bank
Cr. Undeposited Checks

Using that, you always know from an accounting perspective how much do you have in checks at your company.

Currently you have no way to track what payments were created with payment method 'Batch Deposit', but for which you have not created an actual Batch Deposit. You need a check and balance mechanism.


3. Reconcile batch deposit with the bank statement
I can't find the new bank reconciliation application in Enterprise Runbot demo system.
In the bank statement you will see a single line containing the total amount of the Batch Deposit. You should be able to match it with the Batch Deposit created in Odoo.




--