Steps To dump database locally
1)Open pgadmin GUI, create new database say 'db_name'
2)Go to command prompt, issue following*(sql_File_Path may vary)*
C:\Program Files (x86)\PostgreSQL\9.0\bin>psql -U postgres -f sql_File_Path db_name
3)Edit the Openbravo.properties file *bbdd.sid=db_name*
4)ant smartbuild -Dlocal=no
5)Restart the tomcat.
Note: You should have a compiled source code of Openbravo , Otherwise you will get an error during Smartbuild.