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On bank statements in The Netherlands we have

• (partial) payments by customers
• (partial) payments to suppliers
• payment of bank costs and others

Where and how do I process these in OFBiz?

Regards,

Pierre

Is The Netherlands the only country where payments of invoices and cost on
bank statements are booked?
How is this to be done in OFBiz?

Pierre

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Hi Pierre

You are not alone - a lot of places use bank statement processing.

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my thought is to import the bank statement, ie, the electronic
tranaction from the bank into it own transaction list, then link those
transaction against the accounting transactions, this would then have a
status in the banks transcatiions of reconciled.
you could use the same scheme for invoices from supplier, and shippers.

BJ

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I have a few thoughts regarding this issue. Most of them came from analyzing
commercial accounting and financial software.

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6) The bank statement lines need the following possible states:

• CREATED
• RECONCILED

7) The bank statement need the following possible states:

• CREATED
• IN PROCESS
• RECONCILED

Daniel.

We would need a way to import the transaction data into OFBiz

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My thoughts on this are:
@1 Parsing
Not only importing and parsing of imported files has to be possible, but
also manual entering of bank statements. Some bank statements come only once
per period with not many line items. In that case the proces of downloading

• importing - reconciliation would be less user friendly than just entering
  the bank statement.

@2 Data storage
Some banks also include interest date and currency (incl conversion rate)
per line item on the bank statement.

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An overview must exist containing the reconciled bank statements (status
RECONCILED) for audit purposes.

Regards,

Pierre

(quoted from Daniel just above)
2) The data has to be stored in a common structure in the system. At a
minimum this is needed:
-Bank Statement number/sequence
-Bank Statement date
-Current Balance (available and retained)
-Previous Balance
-Transaction Date
-Transaction description
-Document number
-Credit Amount
-Debit Amount
-> A common structure is needed to store the data from different banks

Some bank statements also display intrest date and currence (incl.
conversion rate) per line item

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once the
1) entities (current or new) have been determined.
2)the import high level services have been implemented,
3) the low level services that to the actual conversion can be written.
4) Secas and EEcas (if required) can be specific to banks for
reconciling the ofbiz transaction file against the bank totals, that
apply. these would be like third party(banks) drivers.
I have adopted using the Contact Mechs instead of properties to put the
bank info for. however that is not the way it is done in ofbiz at this time.

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(from BJ just above)
I have adopted using the Contact Mechs instead of properties to put the
bank info for. however that is not the way it is done in ofbiz at this time.

What did you make this choice (just curious) ?

Jacques

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1) it is easy for the user to put in and change info.
2) to me, that is what the info is, How to get to your bank account, or
contact the supplier, or how to get a credit on an order.
4) by making different types of Contact mechs, the program can decide
what contact mech to use.

Re: How to process bank statements
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by Pierre Smits-3 Nov 07, 2008; 06:55am :: Rate this Message: - Use ratings to moderate

BJ

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Reply | Reply to Author | Print | View Threaded | Show Only this Message
BJ,

I can follow your reasoning. And it would be the simplest thing to do for
customers (Bill-to role?) and Suppliers.
Using ContactMechs for displaying bank related info in communications and
transaction documents (e.g. purchace and sales orders, invoices) would be
the easiest route to go.
But these details may not be editable by everyone who can just add
ContactMechs (preferrably restricted to persons in some kind of accounting
role).

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A CFO doesn't care less what everybody does with ContactMechs as long as his
part of the system (FICO, AP, AR, etc) are in order and auditable.

Regards,

Pierre

Addendum

Is using attributes on a Party not a better idea. That way it also usable
for employees, who get paid electronically (the generic way to pay employees
in The Netherlands). The attribute should then be selectable in stead of
free text.

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Bank account ID's are normalized per country. And international
harmonization is in effect. This should be taken into consideration when
defining a solution how to store bank account details.

Pierre

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[But these details may not be editable by everyone who can just add
ContactMechs (preferably restricted to persons in some kind of accounting
role).]

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This is at the third party software level.
the SECAS will check that the proper routing number(tied to Geo) and
account format for the bank.
the validation is to run a validation on the bank account for a $1.00.
the interaction between banks is based on agreements (entity) and a page
from the Trading partners data used currently. I brief review of the
Oagis looks like it has a similar structure.

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