With a separated accounting engine, through the JBoss application server, Compiere offers multiple layers of information, scalability, and capacity for business process customization, while still keeping within the normal rules of an accounting framework. What must be remembered is that the basic accounting rules per document type apply, and operationally it requires the normal disciplines in managing the accuracy and validity of the accounting entries.
We have touched on various system aspects of financial management. In this chapter we:
Learnt an understanding of the Compiere accounting terminology
Explained how accounting entries are derived from documents
Showed you the accounting setups required in the system
Explained open item management and the reconciliation of Accounts Receivable and Accounts Payable ledgers
Explained the cash and bank management reconciliations
Showed you how to find and follow up on unposted documents
Overview of the Financial Reporting capabilities
Make sure...