Accounting and Bookkeeping

Accounting is the process of recording and tracking financial statements to assess the financial health of an entity. This involves inputting, sorting, measuring, and communicating transactions in various formats. The Accounting & Bookkeeping plugin consists of bookkeeping and analysis, helping businesses manage their finances effectively.

Benefits: This plugin helps alleviate the burden of manual data entry, reduces common human errors, assists during tax time, and provides in-depth financial reports. It consolidates financial reports into one system, saving time and ensuring accuracy and efficiency.

Module Features:

• Dashboard: Profit & Loss Chart, Income Chart, Expense Chart, Cashflow Chart, and Bank Accounts Overview.
• Banking:
  • Banking Register
  • Posted Bank Transaction
  • Reconcile Bank Account
  • Import Bank Transactions
• Transactions:
  • Mapping Bank Statements to Accounting
  • Mapping Invoices to Accounting
  • Mapping Payments to Accounting
  • Mapping Expenses to Accounting
  • Mapping Purchases to Accounting (requires Purchase Management plugin)
  • Mapping Inventory to Accounting (requires Inventory Management plugin)
  • Mapping Payroll to Accounting (requires HR Payroll plugin)
  • Item Mapping Setup
  • Expense Category Mapping Setup
  • Tax Mapping Setup
  • Purchasing Mapping Setup
  • Inventory Mapping Setup
• Banking Rules: Automatically categorize transactions.
• Journal Entry: Record transactions in the general ledger.
• Transfer: Transfer amounts between accounts.
• Chart of Accounts: List of account numbers and names relevant to your company.
• Reconcile: Match transactions entered into the plugin against your bank or credit card statements.
• Budgets Management: Prepare budgets to monitor, track, and compare expected income and expenses with actual figures.

Reports:

• Business Overview Reports:
  • Balance Sheet Comparison
  • Balance Sheet Detail
  • Balance Sheet Summary
  • Custom Summary Report
  • Profit and Loss as % of total income
  • Profit and Loss Comparison
  • Profit and Loss Detail
  • Profit and Loss year-to-date comparison
  • Profit and Loss
  • Statement of Cash Flows
  • Statement of Changes in Equity
• Bookkeeping Reports:
  • Account List
  • Balance Sheet Comparison
  • Balance Sheet
  • General Ledger
  • Journal
  • Profit and Loss Comparison
  • Profit and Loss
  • Account History
  • Recent Transactions
  • Statement of Cash Flows
  • Transaction Detail by Account
  • Transaction List by Date
  • Trial Balance
• Sales Tax Reports:
  • Tax Detail Report
  • Tax Liability Report
  • Tax Summary Report
• Sales and Customers Reports:
  • Deposit Detail
  • Income by Customer Summary
• Expenses and Suppliers Reports:
  • Cheque Detail
• Budgets Reports:
  • Budget Overview
  • Profit and Loss Budget vs Actual
  • Profit and Loss Budget Performance
• Accounts Aging Reports:
  • Accounts Receivable Aging Summary
  • Accounts Receivable Aging Detail
  • Accounts Payable Aging Summary
  • Accounts Payable Aging Detail
• Banking Reports:
  • Bank Reconciliation Summary
  • Bank Reconciliation Detail

Settings:

• General
• Account Detail Types Management
• Plaid API Setup