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The 'accounting cycle' image provided on page 22 of attached accounting summary document provides a good visualisation of steps involved from 'economic activity step (transaction)' to closing books for a given cycle period (weekly/monthly/quarterly/yearly)
The Journal entries view would look similar to the below mockup
3.1 Automated Journal Entries
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Allow setting closure dates at branch level after which accounting transactions cannot be posted.
6 Reports
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- Balance sheet
- Profit and Loss Statement
- Trial balance
7 Database changes
7.1 Chart of Accounts Table (acc_coa)
Table stores the “Chart of Accounts” for an organization
| Column Name | Data Type | Description |
|---|---|---|
| id | int | |
| gl_code | varchar(45) | |
| category | varchar(45) | Whether the account falls under “asset”, “income”, “expense”, “liability” or “equity” |
| parent_Id | int | References “id” of table “m_acc_coa”. For enabling a hierarchical COA |
| name | varchar(45) | |
| type | varchar(45) | Either “header” or “detail” account. Header accounts will not have transactions logged against them |
| description | varchar(500) |
7.2 Modifications to Loan Product (“m_product_loan”)
Table stores the “Chart of Accounts” for an organization
| Column Name | Data Type | Description |
|---|---|---|
| accounting_rule | varchar(45) | The type of accounting required. Either “none”, “cash” or “accrual” *Selecting none would disable posting of all accounting transactions |
| loan_coa_mapping_id | int | Null-able foreign key to acc_loan_coa_mapping |