Book Image

Working with OpenERP

By : Greg Moss
Book Image

Working with OpenERP

By: Greg Moss

Overview of this book

<p>OpenERP continues to gain momentum throughout the world in providing the best platform for open source ERP installations. This book covers all the essential modules and how to get the power of OpenERP to work for you.</p> <p>"Working with OpenERP" provides a real-world business solution approach to integrating OpenERP into your small or medium sized business. This book begins by walking you through how to install OpenERP on a Windows or Ubuntu server then takes you through all the essential modules you will need to get OpenERP up and running for your company.</p> <p>All through the book, "Working with OpenERP" provides real-world examples in sales, customer relationship management (CRM), purchasing, manufacturing, human resources, and financial accounting. After covering the basics, you will learn how to customize various methods to configure OpenERP for your business and even build your own custom modules.</p> <p>"Working with OpenERP" covers all the basics of installing and using OpenERP along with advanced real-world examples you will not find anywhere else.</p>
Table of Contents (21 chapters)
Working with OpenERP
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

How were transactions created in Account Payable?


Looking at the Chart of Accounts, we can see that we have transactions in the Account Payable liability account. Account Payable typically includes the total of current invoices you have open from your suppliers. When you purchase goods and you receive an invoice, Account Payable will increase by the amount of the invoice. When you pay the invoice, the Account Payable account will decrease by the amount you pay on the invoice.

To see the transactions that created the $114.00 in Account Payable, double-click on the 200010 account.

When we open the account, we see all the transactions that were involved. In the first column we see the Journal for the transaction. The Purchase Journal (USD) entry specifies PO00001 as both the Name and Reference for the transaction. On the far right of the entry, you will see the Credit amount of $114.00. This was the amount of the purchase order, and Account Payable was credited $114.00 to account for the liability...