• From: UAE
  • Registered: 08/14/2008
  • Posts: 82

Topic: More controle accounts must be added to system and gl setup

there is some thing strange here , I know that there are some common practices when designing a software , one of them is the controlling accounts which is placed in system and gl setup windows , but really I surprised when I tried to make a new template for new company with new chart of accounts and some nominal accounts , when I opened the script related to my template I found that there is four accounts not mentioned there in the windows system and gl setup as the following:

1- Goods Received Clearing Account (1430)
2- Retained Earnings (2050)
3- Purchase Price Variance (4220)
4- Direct Labour (5000)

why the developers not add those accounts to the windows of system and gl setup ?

what is the accounting cycle with the transactions ( must be published to know what is happening behind sense )

what is the accounting system followed here is periodic inventory system or perpetual inventory system ?

if we are about manufacturing solution where is the costing methods of inventory like FIFO , LIFO , Weighted or Moving Average Method , Specific Identification Method ?

sorry for disturbing you all but I think this solution deserve from us all to give a right suggestions to make it compatible with the most common practices in the world of accounting

Best Regards

Abdelhamid M. Abdelhamid - Partner & Managing Director
Abdelhamid & Co Certified Public Accountants & Auditors - UAE - Sharjah
(ACPA & IACPA) - (International Arab Certified Public Accountant)- IASCA Fellow Member
Mobile "WhatsApp" : +971 50 7948028
  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,107

Re: More controle accounts must be added to system and gl setup

infotechaccountant wrote:

there is some thing strange here , I know that there are some common practices when designing a software , one of them is the controlling accounts which is placed in system and gl setup windows , but really I surprised when I tried to make a new template for new company with new chart of accounts and some nominal accounts , when I opened the script related to my template I found that there is four accounts not mentioned there in the windows system and gl setup as the following:

1- Goods Received Clearing Account (1430)
2- Retained Earnings (2050)
3- Purchase Price Variance (4220)
4- Direct Labour (5000)

why the developers not add those accounts to the windows of system and gl setup ?

These accounts were obsolete in release 2.1. Was original inplemented for future release. In release 2.2 some of them are used when closing fiscal years (automatic creating a balanced year). The Purchase price variance and the labour are not used at present.

infotechaccountant wrote:

what is the accounting cycle with the transactions ( must be published to know what is happening behind sense )

We are planning in future version to clean transactions when deleting fiscal years. Convert the deleted years transactions into Open Balances. Also cleaning other transactions.

infotechaccountant wrote:

what is the accounting system followed here is periodic inventory system or perpetual inventory system ?

if we are about manufacturing solution where is the costing methods of inventory like FIFO , LIFO , Weighted or Moving Average Method , Specific Identification Method ?

The Inventory system and the manufacturing solution are based on the average methods.

/Joe