I have recently found beansbooks and I want to thank you to no end for the work you have done on this. I can't tell you how great it is to have an open source alternative to QB that is actually 1000x more usable and not focused on lock-in. My next computer WILL be a S76. Do you accept donations for beansbooks? (self-hosted cause you can pry my data from my cold dead hands)
I have the luxury of defining a new accounting process around the use of beansbooks in a credit card intensive business. As a result, I setup libreclac sheets that take the reports downloaded from the CC processor and the operations system to create a daily sales entry in a Revenue Clearing account classified as a revenue account (credit balance). The CC processor deducts fees from each transaction and deposits the net amount in the bank. The basic form entry is:
D: Net Cash - AR/CC Clearing (debit balance)
D: Fees - COGS - CC Fees (debit balance)
C: Revenue (credit balance)
When the CC Exp. account was classified as a COGS sub account, the import resulted in a negative expense. When I created a separate non COGS expense account for CC fees, they appropriately showed a positive expense (debit balance). The import had the CC Fees marked as increases to a revenue account (credit balance) and therefore you would expect the other side to be a debit, which would in turn increase a COGS account.
I really was only able to notice this because I looked at how the import function worked and defined the appropriate clearing accounts and entries needed ahead of time in order to get the end result I wanted from various imports to different accounts (the import from the bank will include the CC deposit and code to the AR/CC clearing account and if all goes right end in a 0 balance) (I set it up the same way for payroll).
Edit: This is not a valid issue. After running reports, I noticed that COGS is shows in red as a negative despite the normal balance being debit. In other words, positive revenue (black), negative COGS (red) added together makes GP (black if you are doing business right). The fact it was shows as a negative (red) threw me off. Apologies.
I have recently found beansbooks and I want to thank you to no end for the work you have done on this. I can't tell you how great it is to have an open source alternative to QB that is actually 1000x more usable and not focused on lock-in. My next computer WILL be a S76. Do you accept donations for beansbooks? (self-hosted cause you can pry my data from my cold dead hands)
I have the luxury of defining a new accounting process around the use of beansbooks in a credit card intensive business. As a result, I setup libreclac sheets that take the reports downloaded from the CC processor and the operations system to create a daily sales entry in a Revenue Clearing account classified as a revenue account (credit balance). The CC processor deducts fees from each transaction and deposits the net amount in the bank. The basic form entry is: D: Net Cash - AR/CC Clearing (debit balance) D: Fees - COGS - CC Fees (debit balance) C: Revenue (credit balance)
When the CC Exp. account was classified as a COGS sub account, the import resulted in a negative expense. When I created a separate non COGS expense account for CC fees, they appropriately showed a positive expense (debit balance). The import had the CC Fees marked as increases to a revenue account (credit balance) and therefore you would expect the other side to be a debit, which would in turn increase a COGS account.
I really was only able to notice this because I looked at how the import function worked and defined the appropriate clearing accounts and entries needed ahead of time in order to get the end result I wanted from various imports to different accounts (the import from the bank will include the CC deposit and code to the AR/CC clearing account and if all goes right end in a 0 balance) (I set it up the same way for payroll).
Edit: This is not a valid issue. After running reports, I noticed that COGS is shows in red as a negative despite the normal balance being debit. In other words, positive revenue (black), negative COGS (red) added together makes GP (black if you are doing business right). The fact it was shows as a negative (red) threw me off. Apologies.