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V7docs

Accounts

Accounts are records in the General Ledger that agreggate the transactions relating to a financial aspect of the entity. The types of accounts in the package follow the classifications requied to produce reports compatible with the IFRS.

Attributes

  • name: The account name.
  • account_type: The type of the account. Must follow IFRS guildines respect to reporting. (See Constants).
  • currency: The Currency the account is denominated in. Defaults to the reporting currency.
  • category: The Category the account is a member of. (See Categories).
  • balances: The Balance objects associated with the Account. (See Balances).
  • code: The nominal code of the account. Defaults to a serially incremented value starting at the lower edge of the range specified by the configuration for the account type. (See Configuration).
  • entity: The Entity associated with the account. Defaults to the entity of the logged in user.
  • description: Details of the transactions to be posted into the account.

Methods

  • Account::getType($type): The human readable type name of the given account type.
  • Account::getTypes($types): The human readable type names of the account types in the given array.
  • Account::sectionBalances($types, $startDate, $endDate, $fullBalance): Returns an array containing accounts of the given $types their opening, current and closing balances for the period between the $startDate and the $endDate, both of whose days are included, opening with the balances of the year $startDate falls in, grouped by category name. A second category with the same name is keyed Name (id), as well as the movement in the balance within the period. The array also includes the conbined total of the closing balances of all the accounts.
  • Account::openingBalances($year): Returns an array containing accounts with opening balances for the given year, as well as the total debit and credit balances for the year.
  • $account->openingBalance($year, $currencyId): Retrieve the opening balance for the account for the given year for the (optionally) given currency. The year is the calendar year that the financial year starts in. (See Reporting Periods).
  • $account->isClosed($year): Check if an account has been closed (Its foreign currency balances have been translated at the reporing period’s closing rates). Closing transactions belong to the reporting period they were prepared for, whatever their date, and deleting one reopens the account.
  • $account->closingTransactions($year): The accounts transactions translating its foreign currency balances to the period’s closing rate.
  • $account->currentBalance($startDate, $endDate, $currencyId): Retrieve the sum of transactions for the account for the period between the given dates for the (optionally) given currency. All of $endDate is included.
  • $account->closingBalance($endDate, $currencyId): Retrieve the closing balance for the account as at the end of the given date for the (optionally) given currency.
  • $account->transactionsQuery($startDate, $endDate, $currencyId): Produce a query builder to retrieve all transactions posted to the account for the given period for the (optionally) given currency.
  • $account->getTransactions($startDate, $endDate): Retrieve an array of all transactions posted to the account for the given period.
  • $account->attributes(): Presents the account’s attributes as an object. Useful for debugging.
  • $account->toString():The string representation of the Account object instance.

Constants

Asset Accounts
  • Account::NON_CURRENT_ASSET: Also called fixed asset accounts, there track transactions that affect the long term assets of the entity such as machinery and motor vehicles.
  • Account::CONTRA_ASSET: Contra assets are accounts whose balances reduce a specific asset account balannce. Examples are Provision for Bad Debts and Accumulated Depreciation
  • Account::INVENTORY: The value of stocks held for sale is kept in accounts of this type.
  • Account::BANK: Accounts of this type contain liquid cash assets of the entity.
  • Account::CURRENT_ASSET: Current assets accounts contain assets that are expected to be realized and received within a year.
  • Account::RECEIVABLE: Accounts of this type keep track of amounts owed to the entity arising from sales made on credit.
Liability Accounts
  • Account::NON_CURRENT_LIABILITY: Accounts in this category usually have to do with long term financing such as loans.
  • Account::CONTROL: Control accounts serve as checks for reconciling recurring short term liabilities. Examples include Salaries Account and Vat account.
  • Account::CURRENT_LIABILITY: Current liabilities are amounts owed to external parties that are expected to be settled within one year.
  • Account::PAYABLE: Payable accounts track amounts owed bs the entity to suppliers for purchases made on credit.
  • Account::EQUITY: Balances in equity accounts represent the in interests of the owners of the entity.
Operations Accounts
  • Account::OPERATING_REVENUE: Accounts of this type are used to track amounts arising from sales from the core business of the entity.
  • Account::OPERATING_EXPENSE: Operating expense accounts track purchases for for use in the core business of the entity.
Non-Operations Accounts
  • Account::NON_OPERATING_REVENUE: These accounts also record transactions for income, but from sources not the core business of the entity. An example of such income is profit on disposal of fixed assets.
  • Account::DIRECT_EXPENSE: Other expense accounts are usually used for expenses that have a direct relationship with the selling of the entities products such advertising.
  • Account::OVERHEAD_EXPENSE: Overhead expenses refer to utilities and other running costs of the entity.
  • Account::OTHER_EXPENSE: Other expenses are those that do not fit either of the above classes such as depreciation.
Miscellaneous Accounts
  • Account::RECONCILIATION: These are accounts used to reconcile the balances of all other accounts. An example is a suspense account.
Purchasable Accounts
  • Account::PURCHASABLES: These are accounts for which purchase transactions can be created.

Constraints (Exceptions)

  • MissingAccountType: Accounts must have an account type.
  • InvalidCategoryType: Accounts category must have the same account type as the account.
  • HangingTransactions: Accounts with transactions in the current year cannot be recycled.