Accounting Requirements

Frappe Framework
1

Hi @anand @rmehta

I wonder if someone can help us answering whether the current system has any of these features or whether we can get these developed / paid for.

Please see below, your help would be very much appreciated.

Main Criteria

Consolidation of multiple legal entities and/ or business units
Accounting/ processing minimums:
Direct debit software integration
Annualised deferred revenues accounting
Integrated VAT module
Integrated AP and AR modules
Integrated Payroll module (optional)
Integrated Fixed Assets module
Automated bank reconciliations
EDI functionality
Integrated PO system
Integrated Receipting functionality (receipt remotely, pay centrally)
Scanned document (particularly invoices) storage with document recall from GL
Intracompany/ inter-business unit automated accounting
Auto reversing accruals and prepayments journals
Auto prepayment journals

Integrated reporting pipeline tool

Standardised, but bespoke P&L, balance sheet and cashflow
Ability to run multi-dimensional ad hoc reports – ideally pivot table style
Automated ePOS system integration (at least by FTP, daily)
Business Intelligence tool compatible (e.g. Microsoft power BI)
Budgeting/ Forecasting tool compatible

2

@ermalc Please don’t @-tag specific users unless there is a special reason.

@umair can you answer

3

Hello,

Please check my inline replies below.

Consolidation of multiple legal entities and/ or business units

Financial statements and other accounting report will be separate for each Company.

Accounting/ processing minimums:
Direct debit software integration

No available out of the box.

Annualised deferred revenues accounting

It won’t be reflected automatically in the financial statement. You can track it manually by tracking order status (completed, pending etc.)

Integrated VAT module

No. You can setup VAT Account and configure sales and purchase tax masters.

Integrated AP and AR modules

**Yes. Check: **

https://frappe.github.io/erpnext/user/manual/en/accounts/accounting-reports.html

Integrated Payroll module (optional)

Yes. Check:

https://frappe.github.io/erpnext/user/videos/learn/processing-payroll.html

Integrated Fixed Assets module

Expected in the upcoming version

Automated bank reconciliations

No. You can do it via Bank reconciliation tool in ERPNext.

https://frappe.github.io/erpnext/user/manual/en/accounts/tools/bank-reconciliation.html

EDI functionality

No.

Integrated PO system

Yes. Check:

https://frappe.github.io/erpnext/user/videos/learn/material-request-to-purchase-order.html

Integrated Receipting functionality (receipt remotely, pay centrally)

An example please.

Scanned document (particularly invoices) storage with document recall from GL

Intracompany/ inter-business unit automated accounting

Not available for now.

Auto reversing accruals and prepayments journals. Auto prepayment journals

Example please.

4

Auto journals:

Let’s say you pay the TV licence in advance and its £120. Ideally the system would hit the accounts with £10 each month, thereby reducing the amount of the prepayment by £10, so at the end of the year, there is nothing left to hit the accounts. Rather than do this manually (easy to forget, make an error, etc), I would want to be able to do the whole journal in advance for the year/ relevant period.

Reversing journals:

Where journals are made manually, I would want these to be reversed the following month. For example, let’s say we accrue £1,000 for a staff barbecue that happened yesterday but for which we don’t yet have the invoice. When the invoice comes in and hits the accounts, we can drop the accrual as its no longer needed. However, ideally the accrue would drop automatically. This is important, because you don’t want to leave the accrual there by accident and have the invoice come in and hit the accounts.

Receipting:

Because we want to pay an invoice centrally, we cannot do so until we know the good/ service is receipted (i.e. - received). Unless we ask the club every time we pay an invoice whether its been received to not, we would want the ability to receipt the PO, with the invoice coming into the centre/ being scanned in at club and picked up by the centre.