I would like to keep track of amounts through memo accounts which are very similar to Subaccounts that we have only under Capital Accounts.
For some accounts I may use special accounts, ie the ones that don’t have a specific module.
Example. I have a bank financing for a real estate development. The financing is 5.000.000 on paper but they give me money only after I reach certain development stage.
I open the Special Account with three subledgers:
- Financing 5.000.000
- Financing to be received -5.000.000
- Financing repaid 0
But here is a first problem. Balance sheet is correct. I have financing at 0. But if I print the GLT I will have a first transaction, a Journal Entry of 5m Vs 5m in the same account which doesn’t make any sense (my chartered accountant would even say it’s illegal but he is a terrorist!).
All the successive accountings are standard:
I receive money? Bank Vs Financing (with subledger Financing to be received). I repay financing? Financing (with subledger Financing repaid) Vs Bank
But I need the same thing for a development contract (which goes under Inventory), for equity subscribed but not recalled and so on. And here is the second problem. In specific modules I don’t have subaccounts (except for capital accounts).
The reason of this thing? I need to keep track of everything contractualized since from October I’ll have to start ESMA Liquidity Stress Test.
Starting from the BS, I have to create an adjusted BS with contractiualized amounts (even if not matured) and make stress test simulations. So it would be great to have it directly in Manager.
A possibile solution in two steps:
- extend Subaccounts to every account of the BS;
- give the possibility to subdivide the Starting Balance into the Subaccounts (given the fact that the total should be always 0 or equal to an eventual Starting Balance if it exist) without going through GLT, ie in the setup form.
Don’t know if it’s feasible and if @lubos may agree for such an use of Subaccounts.
I hope to have it explained in an understandable way.