Account Cut-off Prepaid
Prepaid Expense, Prepaid Revenue
Account Cut-off Prepaid
This module allows you to easily compute the prepaid revenue and prepaid expenses and to generate the related cutoff journal items. It uses the Start Date and End Date fields of journal entries (copied from the same fields of invoice lines).
For example, if you have an insurance contrat for your company that run from April 1st 2013 to March 31st 2014, you will enter these dates as start and end dates on the supplier invoice line. If your fiscal year ends on December 31st 2013, 3 months of expenses are part of the 2014 fiscal year and should not be part of the 2013 fiscal year. So, thanks to this module, you will create a Prepaid Expense on December 31st 2013 and OpenERP will identify this expense with the 3 months that are after the cut-off date and propose to generate the appropriate cut-off journal entry.
Table of contents
On the form view of the company, in the Configuration tab, there is a Cut-offs section where you can configure:
- the Default Cut-off Journal, which is the journal in which the cut-off journal items will be generated by default,
- the Default Account for Prepaid Revenue,
- the Default Account for Prepaid Expense.
To compute the prepaid revenue, go to the menu Accounting > Cut-offs > Prepaid Revenue and click on the Create button. Enter the cut-off date, check that the source journals contains all your sale journals and click on the button Re-Generate lines: Odoo will scan all the journal entries of the source journals and will get all the lines that have an end date after the cut-off date and, for each line, it will compute the prepaid revenue. If you agree with the result, click on the button Create Journal Entry: Odoo will generate an account move at the cut-off date to cut these prepaid revenue. Hint: you can then use the reversal feature to generate the reverse journal items on the next day.
If you need to answer a question such as How much revenue did I already invoice for my next fiscal year ?, you will be interested by the forecast feature. For that, on the Prepaid Revenue form, click on the Forecast option and you will see 2 new fields: Start Date and End Date. Enter the start date and the end date of your next fiscal year and click on the button Re-Generate lines: you will see all the revenue that you already have in your source journals for that period.
Bugs are tracked on GitHub Issues. In case of trouble, please check there if your issue has already been reported. If you spotted it first, help us smashing it by providing a detailed and welcomed feedback.
Do not contact contributors directly about support or help with technical issues.
This module is maintained by the OCA.
OCA, or the Odoo Community Association, is a nonprofit organization whose mission is to support the collaborative development of Odoo features and promote its widespread use.
This module is part of the OCA/account-closing project on GitHub.
You are welcome to contribute. To learn how please visit https://odoo-community.org/page/Contribute.