Annoucement: Python Accounting

Python accounting is a fully featured doouble entry bookkeeping library capable of delivering financial reports compatible with the majer reporting standards such as IFRS and GAAP.

The motivation behind this library is the fact that the fundamental rules of bookkeeping are identical, even though various jurisdictions might have more specific accounting rules.

Have fun with it and looking forward to your feedback.

Where is the code and documentation published?

Is this it Edward?

It sounds like you know what you’re doing - have you got an accountancy background?

I think you’ve mis-spelled __init__.py as __ini__.py.

In which currency or financial system is it required to store values to 4 decimal places too, may I ask?

@barry-scott you can find the documentation on read the docs. @JamesParrott yes that’s it, thanks for noticing the typo in the init file, I’ll fix it . And yes I’ve been trained in accounting and even finance (CFA I and II) before I switch careers and became a software engineer. The four decimal spaces is so as to accomodate Japanse Yen, which literally has no cents ;).

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Seems to be a fairly common option in bookkeeping/accounting software. Some of our customers send quotes with 4 decimals… when we recently switched software packages it was a pair of global options for internal- and external-facing documents. If you’re buying or selling vast numbers of tiny things, it can make a difference whether the price is $0.17 or $0.1748 per.

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Oh yeah, I’ve seen that too. Usually for information only accompanied by a break point, and “approx contents”.

Not going to lie, “approx content” sounds like nails on a chalkboard to a former accountant like me, reminiscent of the definition of “material amount”. Thank heavens I’m an engineer now :smiley:

Hi Bw.Mungai, this good work. Haven’t got it to customize it yet but can the library handle a consolidated chart of account where the account types are indexes maintained in one table or is it strictly developed to follow the schema in the demo

Hi Mr Ndungi, being a python package, there’s really no restriction to what you might do to customize it to your needs. You may get your feet wet with the demo, then fork the repo and change the schema as you need. Cheers

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