Balance Sheet Defense (BSD) window

Description

Thanks to Chuck Boecking for sponsoring this.

Purpose of this feature it to allow user to defend for open balances in balance sheet.

An open balance means that (1) a business (or subledger) document has posted a value to a GL Account and (2) no business document has pulled the value out of that GL Account.
The most simple example of an open balance is Bank in Transit (BIT). A value exists for BIT when an AR Receipt (Payment Window) is completed and posted. That value will sit in BIT until that AR Receipt is listed in a completed and posted Bank Statement. The Bank Statement document moves value from BIT to the Bank Asset (Bank) GL account for that bank account.

The following Accounting Schema Defaults represent the list of types of accounts that hold an open balance.
Not-Invoiced Receipts (NIR)
Inventory Clearing (IC)
Vendor Liabilities (API) - AP for Invoices
Payment Selection (APP) - AP for Payments
Customer Receivables (ARI) - AR for Invoices
Unallocated Cash (ARR) - AR for Receipts
Bank in Transit (BIT)
Bank Asset (Bank)

With Regards
--Deepak Pansheriya

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Edwin Ang
June 25, 2020, 10:03 AM

Hi this sounds interesting. care to elaborate more?

Assignee

Deepak Pansheriya

Reporter

Deepak Pansheriya

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Priority

Major
Configure