Simplified set of types and rules for core · Issue #80 · epogrebnyak/abacus · GitHub

8000 Simplified set of types and rules for core · Issue #80 · epogrebnyak/abacus · GitHub

More Web Proxy on the site http://driver.im/

Simplified set of types and rules for core #80

Open

Open

Simplified set of types and rules for core#80

Work flow:

A chart of accounts defines a ledger: Chart -> Ledger
One can post entries to ledger, invalid entries are not posted Ledger -> List[Entry] -> (Ledger, List[Entry])
On ledger closing we close income and expense accounts, create income statement, and transfer current profit to retained earnings: Ledger -> (ClosedLedger, IncomeStatement)
Postclose entries may distribute dividend: ClosedLedger -> List[Entry] -> ClosedLedger
End of period account balances are saved for next period: ClosedLedger -> Balances
End of period balances create an opening entry for start of next period Balances -> Entry
We condense contra accounts and show balance sheet report ClosedLedger -> BalanceSheet

Obtain information about ledger:

Trial balance reflects state of ledger Ledger -> TrialBalance
We can calculate current profit based on state of income and expense accounts

Other:

Chart, [Entry], IncomeStatement, BalanceSheet and Balances are serialisable

Assumptions:

No contra accounts
Simplistic or no cash flow statement
One level of accounts
One currency
No negativity or overspending checks
Entry can touch any accounts
Must supply entries, not transactions

Chart:

required accounts are retained earnings account and income summary account
Asset, Expense, Capital, Liability, Income, IncomeSummaryAccount, RetainedEarnings

Metadata

Assignees

No one assigned

Labels

No labels

No labels

Projects

No projects

Milestone

No milestone

Relationships

None yet

Development

No branches or pull requests

0