Accounting & Bookeeping System

Accounting involves the systematic process of documenting and monitoring financial transactions to evaluate the financial well-being of an entity. It encompasses tasks such as recording, categorizing, quantifying, and conveying transactions through various formats. Accounting comprises both bookkeeping, which entails recording transactions, and analysis, which involves interpreting these transactions to generate informative reports reflecting the financial status. These reports, such as profit and loss statements and cash flow analyses, offer insights into financial performance and aid in managing obligations like sales tax. By diligently managing accounting tasks, small business owners gain a clear understanding of their financial standing, enabling them to make informed decisions based on available resources.

Features List:

1. Dashboard:
   • Profit & Loss Chart
   • Income Chart
   • Expense Chart
   • Cashflow Chart
   • Bank Accounts Overview
2. Banking:
   • Banking Register
   • Posted Bank Transaction
   • Reconcile Bank Account
   • Import Bank Transactions
3. Transactions:
   • Mapping Bank Statements to Accounting
   • Mapping Invoices to Accounting
   • Mapping Payments to Accounting
   • Mapping Expenses to Accounting
   • Optional: Mapping Purchase to Accounting (requires additional module)
   • Optional: Mapping Inventory to Accounting (requires additional module)
   • Optional: Mapping Payroll to Accounting (requires additional module)
4. Mapping Setup:
   • Item Mapping
   • Expense Category Mapping
   • Tax Mapping
   • Purchasing Mapping
   • Inventory Mapping
5. Banking Rules: Automatically categorize transactions for efficient record-keeping.
6. Journal Entry: Record transactions in the general ledger.
7. Transfer: Transfer amounts between accounts.
8. Chart of Accounts: List of account numbers and names categorized into Asset, Liability, Income, and Expense accounts.
9. Reconciliation: Match transactions against bank or credit card statements.
10. Budgets Management: Prepare budgets to monitor, track, and compare expected income and expenses with actual amounts.
11. Business Overview Reports:
    • Balance Sheet Comparison, Detail, and Summary
    • Profit and Loss Comparison, Detail, and Year-to-Date Comparison
    • Custom Summary Report
    • Profit and Loss as % of total income
    • Statement of Cash Flows
    • Statement of Changes in Equity
12. Bookkeeping Reports:
    • Account List
    • General Ledger
    • Journal
    • Recent Transactions
    • Transaction Detail by Account
    • Transaction List by Date
    • Trial Balance
13. Sales Tax Reports:
    • Tax Detail Report
    • Tax Liability Report
    • Tax Summary Report
14. Sales and Customers Reports:
    • Deposit Detail
    • Income by Customer Summary
15. Expenses and Suppliers Reports:
    • Cheque Detail
16. Budgets Reports:
    • Budget Overview
    • Profit and Loss Budget vs Actual
    • Profit and Loss Budget Performance
17. Accounts Aging Reports:
    • Accounts Receivable Aging Summary
    • Accounts Receivable Aging Detail
    • Accounts Payable Aging Summary
    • Accounts Payable Aging Detail
18. Banking Reports:
    • Bank Reconciliation Summary
    • Bank Reconciliation Detail
19. Settings:
    • General Settings
    • Account Detail Types Management