Book Image

Compiere 3

By : Andries L Pretorius
Book Image

Compiere 3

By: Andries L Pretorius

Overview of this book

Compiere is a world leading open source commercially supported ERP system. Very large companies have already chosen Compiere over traditional systems. By its nature ERP is a complex subject and while you may be familiar with ERP this book will introduce you to the concepts of Compiere. Here you will learn the Compiere essentials quickly and concisely.The aim of this book is to get you up and running with Compiere through a practical hands on approach. This book will also give you an overview of the main Compiere business process aspects. This book will help you get comfortable with using and exploring the Compiere system as you prepare for a roll out in your organization.Maturing from an open source project to a leading edge competitor in the ERP space, Compiere offers what other traditional big name systems lack. Offering its best of class functionality on a model driven architecture, the latest enterprise platform independent web technologies (GWT, Java, JBoss, Oracle, Postgress), while maintaining openness, value, flexibility, scalability and most of all an integrated ERP platform that can be extended upon with ease.In this book we will introduce you to understanding Compiere functionality exploring the different essential business processes. We will cover the setup, the business processes of sales, purchasing, inventory, financial management as well as advanced aspects like workflow, project planning and migration.Every chapter is illustrated by example so as to facilitate quick and practical reading. This is not a Java programming manual and the book’s aim is to take your basic knowledge of the ERP environment and ensure a proper practical understanding of the critical functional aspects during the Compiere implementation process.
Table of Contents (13 chapters)
Compiere 3
Credits
About the author
About the reviewer
Preface

Understanding the accounting entry


In essence, the accounting entry principle can be illustrated as follows:

The figure above describes that the final accounting entry is created from the accounting schema rules and the default accounts, through the particular document type, which determines the accounting principle. Thus, an Accounts Receivable invoice will have a particular accounting entry that is different from, say, a Shipment or Accounts Payable document. The processes around these documents and their accounting entries have been described, when looking at the previous chapters in their respective business cycles.

The accounting processing engine of Compiere is separate from the document processing engine. Accounting entries are posted in the background, as a separate process.

Note

Because of the decoupled accounting engine, Compiere allows for multiple currencies, multiple calendars, multiple charts of account (for instance accounting versus tax reporting), multiple GAAP (accrual and...