Definition: What is it?
A financial account is a tool (similar to bank account statement) that is used for monitoring monetary transactions. Normally they will be linked to a party and the various transactions details (eg payments or receipts) will be shown as an entries.
Currently in OFBiz financial accounts can have the following types:
- Bank Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)
- Deposit Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)
- Gift Certificate (by default this type will post to 213200 GIFT CERTIFICATES UNREDEEMED)
- Investment Account (by default this type will post to 213500 CUSTOMER DEPOSIT ACCOUNTS)
- Replenish Account (no default posting account in demo data setup)
- Service Credit Account (no default posting account in demo data setup)
NOTE: In GL Account Defaults there is a specific tab 'FinAccount Type Gl Account' for specifying which type of Financial accounts are posted to which general ledger account.
NOTE: In GL Account Defaults there is also a tab 'Payment Method Id / GL Account ID' for specifying the account to post transactions to if 'Financial Account' is selected as the Payment Method instead of (Cash, Cheque, Credit Card, Billing Account etc).
TO DO: Need to investigate to see if you can separate a party financial account to a specific GL account. The GL account default setup is specifies type only (not by party and type...???) - so all financial accounts are consolidated into one GL account by type.
What is it used for?
These include:
- Managing and Tracking Customer Prepaid Accounts
- Managing and Tracking Customer Credit Limit (NOTE: Need to verify this)
- Managing Electronic Gift Certificates / Gift Vouchers/ Gift Card
- Reload of Electronic Gift Card
- Company Bank Account Transaction Tracking ???????
NOTE: Need to investigate use of financial account to track company bank account so can mirror bank statement on screen with Financial account.
What's on the screen?
TO DO
How do I create a financial account?
TO DO
How to update a financial account?
TO DO
How do I delete / remove a financial account?
TO DO