Open ERP, a modern approach to integrated business management, Release 1.0 Tip: Reminders from accounting entries Companies that do not have computerized records tend to keep track of payments from invoices and paperwork and not from a formal partner account. It’s better to create reminder letters from a partner’s account receivable than from unpaid bills, however. By using the Open ERP system you can easily take account of all advances, unreconciled payments, credit notes and credit payments. So it’s better to send a letter based on the accounting entries of invoices and unreconciled payments than just on a list of unpaid invoices. In the links appearing on the partner form, two buttons enable the opening of partner accounting entries: • All account entries, • Receivables & Payables. The first button is useful for obtaining a historical analysis of the customer or supplier. You can get information about such significant items as sales volume and payment delays. The second button is a filter which shows only the open trade credits and debits for the partner.
12.2 Statutory taxes and accounts This section deals with statutory taxes and accounts which are legally required from the company: • the taxation structure provided by Open ERP, • the accounts ledgers, • account balance (used to produce the income statement and balance sheet), • the different journals (general, centralized and detailed), • the tax declaration. Tip: Other declarations In addition to the legal declarations available in the accounts modules, Open ERP supplies declarations based on the functionality in other modules. You can, for example, install the report_intrastat module for intra-stat declarations about sending goods to and receiving goods from other countries.
12.2.1 Taxation You can attach taxes to financial transactions so that you can • add taxes to the amount that you pay or get paid, • report on the taxes in various categories that you should pay the tax authorities, • track taxes in your general accounts, • manage the payment and refund of taxes using the same mechanisms that Open ERP uses for other monetary transactions.
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Chapter 12. Financial Analysis