The accounting module allows you to manage your organization easily and efficiently. The aim is that a person with little accounting knowledge can use the main functions.
The accounting record also works on this principle: the interface guides you to generate your entries without the risk of accounting inconsistencies.
Record a revenue or an expense entry
How to access the page
1. Go to the Accounting tab
2. Select Book Entry
3. Choose Book a new expenditure or Book a new revenue
This will bring you to a page with some information to fill in so that the software generates the entry.
If you choose "Book a new expenditure."
- The Label is the name you will give to the transaction/entry.
- The amount is the total amount of the expense/revenue.
- The account; the account linked to the entry, depending on its character.
- The date of operation is the entry date, which will be linked to the relevant accounting period. You can record entries to a fiscal year as long as it is not closed.
- Payment method; determines the account linked to the entry: Bank Account for payment directly from the bank, Check remittance for a check, Petty cash for cash.
- The linked account: for bank payments (CB, transfer, etc.) or cash (each cash account is connected to a bank account, the software must recognize the linked bank account to generate these entries.
You will be allowed to use one account per record only. However, the advanced accounting entry will enable you to choose the accounts to be impacted freely.
Accounting entries generated
Once created, you can find the entry via the Search module by filtering the date, the amount, or the account used. You will find two lines:
- One line for the commitment: the amount paid by a third party, which is a payment effected after a sale.
- Another one is for the payment, which may or may not be entirely paid at the time of the sale.
You can access the accounting entry generated by clicking on the detail icon. This also allows you to edit the information filled.
The accounting entry (commitment) impacts:
- The revenue account was chosen, as there is a recording of a turnover.
- An Assets and Liabilities account, depending on the type of the third party, reflects their commitment to pay the amount.
The payment entry concerns the following accounts:
- The same class 4 account signifies that the commitment is fully/partially paid.
- A class 5 account corresponding to the means of payment (check, card, cash, etc.)