Tag: Financials

Accounting Basics for Developers

Posted on by Sergey Marenich

Hi All, Long time ago, one my good friend explained me the accounting principles in 30 minutes in a way where I (a system developer, that time) understood it and never forget anymore. This knowledge serves me for a more than 5 years now and I promised myself to share this knowledge with every one how needs. So here it is – Accounting basics for developers.I’ll focus on accounts, account types and general ledger to explain where it is coming from and why it is like this. I guess you’ll understand how to use it after that! Part 1 – Owner is a Core Historically wise, everything has started from… Read more

Automate Inter-Company Transactions – Architecture

Posted on by Sergey Marenich

Hi All, I have this question quite a lot in Asia, mostly because there you probably have a big company already if you explore the ERP options. Many medium/big companies in Asia have multiple locations, multiple offices, multiple legal entities in multiple countries. This comes to the point where you have to do some inter-company transactions that affects multiple companies. Inter-Company Transaction Inter-company accounting is the process of recording financial transactions between different legal entities within the same parent company You can classify inter-company transactions in 2 types: One transaction that hits multiple companies. For example when you pay rent from one company to multiple others. This transactions can be… Read more