Plugin:Accounting for Taiwan
- Maintainer: Ray Lee - Ninniku IT Hub
Introduction
In an era of globalization and digital transformation, adaptability of enterprise software applications becomes crucial. For Taiwanese businesses, effective accounting management is a vital component of success. iDempiere, a widely acclaimed Enterprise Resource Planning (ERP) system, has been providing excellent solutions for global enterprises. However, in order to better align with the unique requirements of the Taiwan market, we have undertaken a significant improvement. We have introduced an iDempiere accounting journal posting improvement plan specifically tailored for the Taiwan market and provided dedicated plug-ins for users. This enhancement not only improves the user experience for Taiwanese businesses but also ensures smooth compliance with local accounting regulations.
1.1 Features of the Accounting for Taiwan Plug-in include:
Compliance with Taiwanese Accounting Regulations: Our new solution ensures that the accounting module of the iDempiere system fully complies with Taiwan's accounting regulations, reducing potential compliance risks. Localized Reports: The new plug-ins enable Taiwanese businesses to generate financial reports that adhere to local legal requirements more easily, saving time and effort. Tax Management: Our improvement also includes tax management tools to assist businesses in calculating and tracking taxes accurately for proper tax reporting. Multilingual Support: iDempiere has always provided multilingual support, and now Taiwanese users can expect more localized interfaces and content to better meet their needs. This enhancement provides Taiwanese businesses with improved accounting management tools, helping them achieve higher efficiency and accuracy. We are committed to continuously improving iDempiere to meet the needs of different markets, and this step in Taiwan is just a part of our efforts. If you are a business operating in Taiwan, we strongly recommend upgrading to the latest version to experience these exciting new features.
This improvement represents our commitment to the Taiwanese market, and we will continue to strive to provide more value to Taiwanese businesses to help them succeed in a competitive market. Please stay tuned for our latest updates to learn more about the latest developments and features of iDempiere.
1.2 Download Accounting for Taiwan Plug-ins
If you wish to experience these new features, please visit our official website to download the latest version of "Accounting for Taiwan Plug-ins."
1.3 Source Code
https://github.com/ninniku-it-hub/tw.ninniku.accounting
Welcome to collaborate together on GitHub to collectively create more powerful plugins to support Taiwan's accounting needs.
1.4 How to Use
Simply download the 1.2 plug-in JAR file and install it via the OSGi Console.
Implementation - Sales (Purchases) Discounts and Returns
2.1 Current State of iDempiere Accounting
iDempiere follows different posting logic based on the document base type of the invoice. Currently, iDempiere provides four document types for invoices: Custom Invoice (ARI), Vendor Invoice (API), AR Credit Memo (ARC), and AP Credit Memo (APC). When posting a Custom Invoice (ARI), it reads Customer Receivables for the debit side and Product Revenue from the product category's accounts for the credit side.
Example: Sales transaction for 10,000 NT dollars.
Debit: Accounts Receivable 10,000
Credit: Sales Revenue 10,000
When a customer requests a price discount of 500 NT dollars after receiving the goods due to quality or a decrease in market price, we create an AR Credit Memo as a deduction from Accounts Receivable and Sales Revenue. When posting an AR Credit Memo (ARC), iDempiere currently uses Customer Receivables and Product Revenue for reverse posting.
Debit: Sales Revenue 500
Credit: Accounts Receivable 500
- 2.2 Adding Discounts and Returns Accounts
To align financial reports more closely with actual business operations, post-sale discounts are recorded using the Sales Discount account. The journal entry is as follows:
Debit: Sales Discount 500
Credit: Accounts Receivable 500
2.3 Introduction to iDempiere Product Accounting
iDempiere offers flexible design for product-related accounts. Through default account settings, product categories, and product-level configurations, the burden of account setup is significantly reduced.
(Image:iDempiere Product Accounting Workflow)
2.3 Accounting Account Configuration Overview
The accounting framework defaults to the top-level default accounts. In this plug-in, we have added four custom accounting accounts: Sales Discount, Sales Return, Purchase Discount, and Purchase Return.
(Image:IDempiere-accounting-schema)
When creating a new product category, all default product-related accounts are automatically copied to the product category.
(Image:IDempiere-product-category)
Current product categories and product account setup are supplemented with data. We provide a Copy Default Product Accounting process to complete the current product category and product accounts with default values.
(Image:IDempiere-copy-default-accounting-process)
The accounting accounts for each product category inherit from the default values of the accounting schema and can be adjusted for industry-specific characteristics. The accounting accounts for each product inherit from the product category's accounts and can be adjusted to fit the product's specific accounting needs.
Accounting journal entry Printing Function
Although iDempiere provides attachment functionality for related documents, many Taiwanese businesses still paste certificates on the back of invoices for archiving purposes. To meet this requirement, we have added a direct invoice printing button to the toolbar in the Window, satisfying this aspect of the need. This series of enhancements and new features will provide Taiwanese businesses with powerful and applicable accounting management tools to better address market challenges. iDempiere's commitment to the Taiwanese market will continue, and we will strive to provide more value and support to Taiwanese businesses in their quest for success in a competitive environment. Please stay tuned for our latest updates to learn more about the latest developments and features of iDempiere.
