Accounting cycle

Accounting uses fiscal years, periods, journals, accounts, moves, and lines. Operational modules create moves through configured rules.

Learning objectives

• Configure company, currency, and chart of accounts. When finished, verify the result with a test record and document ownership.
• Define fiscal years, periods, journals, and sequences. When finished, verify the result with a test record and document ownership.
• Configure receivable, payable, income, expense, and tax accounts. When finished, verify the result with a test record and document ownership.
• Validate documents and review their moves before posting. When finished, verify the result with a test record and document ownership.
• Only reconcile lines representing the same economic balance. When finished, verify the result with a test record and document ownership.
• Close periods after reviewing ledgers, taxes, and statements. When finished, verify the result with a test record and document ownership.

Concepts to master

• Configure company, currency, and chart of accounts.
• Define fiscal years, periods, journals, and sequences.
• Configure receivable, payable, income, expense, and tax accounts.
• Validate documents and review their moves before posting.
• Only reconcile lines representing the same economic balance.
• Close periods after reviewing ledgers, taxes, and statements.

Guided practice

1. Activity 1. Configure company, currency, and chart of accounts. Perform it in staging first, record preconditions, and compare expected and actual results.

2. Activity 2. Define fiscal years, periods, journals, and sequences. Perform it in staging first, record preconditions, and compare expected and actual results.

3. Activity 3. Configure receivable, payable, income, expense, and tax accounts. Perform it in staging first, record preconditions, and compare expected and actual results.

4. Activity 4. Validate documents and review their moves before posting. Perform it in staging first, record preconditions, and compare expected and actual results.

5. Activity 5. Only reconcile lines representing the same economic balance. Perform it in staging first, record preconditions, and compare expected and actual results.

6. Activity 6. Close periods after reviewing ledgers, taxes, and statements. Perform it in staging first, record preconditions, and compare expected and actual results.

How to verify the result

• Company, user, language, time zone, and date match the scenario.
• Permissions allow only operations assigned to the responsibility.
• Changes are traceable and related documents remain consistent.
• The procedure is repeatable and has a documented correction path.
• A restored backup can reproduce the process without relying on production.

Common mistakes

• Confusing save with confirm, post, pay, or close.
• Testing only as administrator and assuming access rights work.
• Changing states or totals with SQL to bypass validation.
• Upgrading without inventory, restorable backup, and post-upgrade reconciliation.
• Documenting only the happy path while omitting cancellation, correction, and exceptions.

Developer perspective

Identify the models, fields, buttons, domains, and access rules involved. Before extending the process, locate the module that owns the rule, review its tests, and preserve invariants through super(). A correct customization must work across companies, languages, permissions, and states.

Production checklist

• Company, user, language, time zone, and date match the scenario.
• Permissions allow only operations assigned to the responsibility.
• Changes are traceable and related documents remain consistent.
• The procedure is repeatable and has a documented correction path.
• A restored backup can reproduce the process without relying on production.