COD Statement

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Introduction to Accounting for COD

When a package is shipped Cash On Delivery (COD), the carrier will ask the recipient for payment of the value of the package. The carrier will then forward checks from multiple recipients together to the sender with a statement detailing the amount received from each shipment and the fee the carrier charges for the service. If the recipient refuses to pay for the package the carrier returns it to the sender undelivered.

Ledger Entries for COD Payments

The ledger entries for COD shipments and receipts are described in the User Guide section, Ledger Transactions Reference.

Accounting Configuration for COD

To configuring accounting for COD statements the following setup is needed:

  • A Payment Method type of “Paid via COD” is configured to the "Uninvoiced COD Receipts" account, to configure this proceed as follows from the Main Navigation screen:
Click: [Financials] Icon > [Configure] Tab > [Payment Methods] button
The "Payment Methods for . . ." screen opens
In the "Add Payment Methods for . . ." box enter the following data
Enter for "Payment Method Type": [Paid Via COD] from the drop down menu
Enter for "GL Account": [Uninvoiced COD Receipts], this is account #126100 in the demo data 
    if you have that installed, otherwise find this account in the drop down list. If it 
    is not configured, add the account to your Chart of (GL) Accounts.
Enter a description such as "COD Statement Receipts"
Click: [Add] to save your added account.
  • Invoice item types “COD Receipt” is configured to the "Uninvoiced COD Receipts account
  • Invoice item type “COD Fee” is configured to the "COD Fees" account.
NOTE: For Technical System Admins, an example of this configuration can be seen in the XML 
configuration file which is in the opentaps server installation directory at this location:
hot-deploy/financials/data/DemoBillCOD.xml


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