financial account

[consolex <in...@consolex.de>]

Ok im playing around with ofBiz as a single person. I am studying the
GL-Ledger, as i am computer science student im not that familiar with
financial things.... My question is:

What is a financial Account? What are financial accounts for? Is there a
gl-account for a single customer or is  just one gl-account for all
customers? 

thx so much, any line would be helpful.
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Re: financial account

[Sharan-F <sh...@gmail.com>]

Hi

I'm fairly new to OFBiz myself and I'm not sure of the exact definition of
what financial accounts are but I can work out what they do by what they're
being used for. There appears to be a few uses for them.

a) used to track prepaid customer accounts where a customer puts money in
the account and then uses it to pay for items that they buy from you
b) used to store details of a gift certificate where you can buy a credit or
voucher that you can pass onto someone else to spend (just like instead of
buying someone a present you give them a voucher that they can spend in
their favourite shop)
c) used to track details of a gift card - this is similar to a gift
certificate but can be recharged so can be used over and over again.

I'm sure there are other uses but these are the ones that I've seen so far. 

On the GL side - the default setup groups the financial account transactions
together for all customers into one GL account but you can change it.
Personally I would set it up to have an account per customer as it would be
easier to track and manage.

Hope this helps.

Thanks
Sharan


consolex wrote:
> 
> Ok im playing around with ofBiz as a single person. I am studying the
> GL-Ledger, as i am computer science student im not that familiar with
> financial things.... My question is:
> 
> What is a financial Account? What are financial accounts for? Is there a
> gl-account for a single customer or is  just one gl-account for all
> customers? 
> 
> thx so much, any line would be helpful.
> 

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