Standard bookkeeping rules

The accounting rules in the Standard Solution allow for quick implementation / demoing of the function. You can use the rules as they are, or (as in many cases) make the rules to suit your bookkeeping needs.

Gains and losses on sales (sell transaction) is done like in FRS: The gain or loss on the sale of investments measured through profit or loss should be the difference between the time of sale and the end of the previous month.

Changes in the fair value of investments measured through profit or loss should be obtained as monthly changes. These value changes can be recorded with FA’s deferral function. The deferral helper tool creates “Value adjustment” transactions. These transactions will modify bookkeeping values of open purchase lots. For more information, see Run deferrals.

Deposit

Deposit on Transaction date

Deposit worth 100 (trade amount)

	Debit	Credit
Other Receivables (18003)	100
Clearing account (99900)		100

Deposit on Settlement date

Deposit worth 100 (trade amount)

	Debit	Credit
Cash: Cash in bank (19001)	100
Other Receivables (18003)		100

Withdrawal

Withdrawal on Transaction date

Withdrawal worth 100 (trade amount)

	Debit	Credit
Other Payables (34008)		100
Clearing account (99900)	100

Withdrawal on Settlement date

Withdrawal worth 100 (trade amount)

	Debit	Credit
Other Payables (34008)	100
Cash: Cash in bank (19001)		100

Buy

Buy on Transaction date

Buy worth 100 (trade amount)

	Debit	Credit
Trade Payables (33001)		100
Issued Capital (2001)	100

Buy on Settlement date

Buy worth 100 (trade amount)

	Debit	Credit
Trade Payables (33001)	100
Cash: Cash in bank (19001)		100

Value adjustment - Loss On Financial Assets Reclassified To Fair Value

Value adjustment worth 20 (bookkeeping value reduces)

	Debit	Credit
Gain (Loss) On Financial Assets Reclassified To Fair Value (63016)	20
Issued Capital (2001)		20

Value adjustment – Gain On Financial Assets Reclassified To Fair Value

Value adjustment worth 20 (bookkeeping value raise)

	Debit	Credit
Gain (Loss) On Financial Assets Reclassified To Fair Value (63016)		20
Issued Capital (2001)	20

Sell

Sell on Transaction date (+20 profit)

Sell trade amount 100, purchase value 80

	Debit	Credit
Trade Receivables (18001)	100
Profit Finance Income (61001)		20
Issued Capital (2001)		80 (Purchase price)

Sell on Transaction date (+20 loss)

Sell trade amount 100, purchase value 120

	Debit	Credit
Trade Receivables (18001)	100
Loss Finance Income (61001)	20
Issued Capital (2001)		120 (Purchase price)

Sell on Settlement date

Sell trade amount 100

	Debit	Credit
Trade Receivables (18001)		100
Cash: Cash in bank (19001)	100

Dividend

Dividend on Transaction date

Dividend value 6

	Debit	Credit
Other Receivables (18003)	6
Dividends (61003)		6

Dividend on Settlement date