[ADD] accounting: new documentation about deferred expenses
@ -7,3 +7,4 @@ Vendor Bills
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supplier_bills/manage
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supplier_bills/bills_or_receipts
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supplier_bills/deferred_expenses
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accounting/payables/supplier_bills/deferred_expenses.rst
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=================================
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Deferred Expenses and Prepayments
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=================================
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**Deferred expenses** and **prepayments** (also known as **prepaid expense**), are both costs that
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have already occurred for unconsumed products or services yet to receive.
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Such costs are **assets** for the company that pays them since it already paid for products and
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services still to receive or that are yet to be used. The company cannot report them on the current
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**Profit and Loss statement**, or *Income Statement*, since the payments will be effectively
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expensed in the future.
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These future expenses must be deferred on the company's balance sheet until the moment in time they
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can be **recognized**, at once or over a defined period, on the Profit and Loss statement.
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For example, let's say we pay $ 1200 at once for one year of insurance. We already pay the cost now
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but haven't used the service yet. Therefore, we post this new expense in a *prepayment account* and
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decide to recognize it on a monthly basis. Each month, for the next 12 months, $ 100 will be
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recognized as an expense.
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Odoo Accounting handles deferred expenses and prepayments by spreading them in multiple entries that
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are automatically created in *draft mode* and then posted periodically.
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.. note::
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The server checks once a day if an entry must be posted. It might then take up to 24 hours before
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you see a change from *draft* to *posted*.
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Prerequisites
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=============
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Such transactions must be posted on a **Deferred Expense Account** rather than on the default
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expense account.
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Configure a Deferred Expense Account
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------------------------------------
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To configure your account in the **Chart of Accounts**, go to :menuselection:`Accounting -->
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Configuration --> Chart of Accounts`, click on *Create*, and fill out the form.
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.. image:: media/deferred_expenses01.png
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:align: center
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:alt: Configuration of a Deferred Expense Account in Odoo Accounting
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.. note::
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This account's type must be either *Current Assets* or *Prepayments*
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Post an expense to the right account
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------------------------------------
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Select the account on a draft bill
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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On a draft bill, select the right account for all the products of which the expenses must be
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deferred.
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.. image:: media/deferred_expenses02.png
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:align: center
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:alt: Selection of a Deferred Expense Account on a draft bill in Odoo Accounting
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Choose a different Expense Account for specific products
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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Start editing the product, go to the *Accounting* tab, select the right **Expense Account**, and
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save.
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.. image:: media/deferred_expenses03.png
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:align: center
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:alt: Change of the Expense Account for a product in Odoo
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.. tip::
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It is possible to automate the creation of expense entries for these products (see:
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`Automate the Deferred Expenses`_).
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Change the account of a posted journal item
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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To do so, open your Purchases Journal by going to :menuselection:`Accounting --> Accounting -->
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Purchases`, select the journal item you want to modify, click on the account, and select the right
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one.
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.. image:: media/deferred_expenses04.png
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:align: center
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:alt: Modification of a posted journal item's account in Odoo Accounting
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Deferred Expenses entries
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=========================
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Create a new entry
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------------------
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A **Deferred Expense entry** automatically generates all journal entries in *draft mode*. They are
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then posted one by one at the right time until the full amount of the expense is recognized.
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To create a new entry, go to :menuselection:`Accounting --> Accounting --> Deferred Expense`, click
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on *Create*, and fill out the form.
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Click on **select related purchases** to link an existing journal item to this new entry. Some
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fields are then automatically filled out, and the journal item is now listed under the **Related
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Expenses** tab.
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.. image:: media/deferred_expenses05.png
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:align: center
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:alt: Deferred Expense entry in Odoo Accounting
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Once done, you can click on *Compute Deferral* (next to the *Confirm* button) to generate all the
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values of the **Expense Board**. This board shows you all the entries that Odoo will post to
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recognize your expense, and at which date.
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.. image:: media/deferred_expenses06.png
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:align: center
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:alt: Expense Board in Odoo Accounting
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What does "Prorata Temporis" mean?
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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The **Prorata Temporis** feature is useful to recognize your expense the most accurately possible.
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With this feature, the first entry on the Expense Board is computed based on the time left between
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the *Prorata Date* and the *First Recognition Date* rather than the default amount of time between
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recognitions.
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For example, the Expense Board above has its first expense with an amount of $ 70.97 rather than
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$ 100.00. Consequently, the last entry is also lower and has an amount of $ 29.03.
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Deferred Entry from the Purchases Journal
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-----------------------------------------
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You can create a deferred entry from a specific journal item in your **Purchases Journal**.
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To do so, open your Purchases Journal by going to :menuselection:`Accounting --> Accounting -->
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Purchases`, and select the journal item you want to defer. Make sure that it is posted in the right
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account (see: `Change the account of a posted journal item`_).
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Then, click on *Action*, select **Create Deferred Entry**, and fill out the form the same way you
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would do to `create a new entry`_.
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.. image:: media/deferred_expenses07.png
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:align: center
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:alt: Create Deferred Entry from a journal item in Odoo Accounting
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Deferred Expense Models
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=======================
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You can create **Deferred Expense Models** to create your Deferred Expense entries faster.
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To create a model, go to :menuselection:`Accounting → Configuration --> Deferred Expense Models`,
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click on *Create*, and fill out the form the same way you would do to create a new entry.
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.. tip::
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You can also convert a *confirmed Deferred Expense entry* into a model by opening it from
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:menuselection:`Accounting --> Accounting --> Deferred Expenses` and then, by clicking on the
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button *Save Model*.
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Apply a Deferred Expense Model to a new entry
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---------------------------------------------
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When you create a new Deferred Expense entry, fill out the **Deferred Expense Account** with the
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right recognition account.
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New buttons with all the models linked to that account appear at the top of the form. Clicking on a
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model button fills out the form according to that model.
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.. image:: media/deferred_expenses08.png
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:align: center
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:alt: Deferred Expense model button in Odoo Accounting
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Automate the Deferred Expenses
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==============================
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When you create or edit an account of which the type is either *Current Assets* or *Prepayments*,
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you can configure it to defer the expenses that are credited on it automatically.
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You have three choices for the **Automate Deferred Expense** field:
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#. **No:** this is the default value. Nothing happens.
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#. **Create in draft:** whenever a transaction is posted on the account, a draft *Deferred Expenses
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entry* is created, but not validated. You must first fill out the form in
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:menuselection:`Accounting --> Accounting --> Deferred Expenses`.
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#. **Create and validate:** you must also select a Deferred Expense Model (see: `Deferred Expense
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Models`_). Whenever a transaction is posted on the account, a *Deferred Expenses entry* is
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created and immediately validated.
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.. image:: media/deferred_expenses09.png
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:align: center
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:alt: Automate Deferred Expense on an account in Odoo Accounting
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.. tip::
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You can, for example, select this account as the default **Expense Account** of a product to
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fully automate its sale completely. (see: `Choose a different Expense Account for specific
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products`_).
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.. seealso::
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* :doc:`../../others/configuration/account_type`
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