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User must be able to select the applicable accounting rule as "none", "cash" or "accrual" at a product level.
The user is expected at the time of product definition to select the “type” of accounting for the product and select his appropriate GL “Detail account” for the placeholders MifosX accounting module provides
Page 10 of attached accounting summary document gives useful basic distinction between cash and accrual accounting.
2 The COA
Continue having the same design with four main headers
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New accounts can be either "header" or "detail" accounts to make things simpler for a user
I would be interested in hearing what COA nirantara and GK accountants use (or any other MFI in community). On document pages 23, 24 is content about the 'classification of transactions' through chart of accounts and a sample chart of accounts for MFIs. How does nirantara and gk COA differ and why would be good to know.
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This means each journal entry batch must have a batch Id (so all individual entries under it can be identified for easy reversal)
4 Accounting rules
The user is expected at the time of product definition to select the “type” of accounting for the product and select his appropriate GL “Detail account” for the placeholders MifosX accounting module provides
4.1 Cash based accounting Scenario:
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