Financial Accounts

Let’s not over complicate this

  • You Need Account Balances

  • You want No More Late Payments

  • You want to track your income and expenses.

  • You want Quick and Easy Account Reconciliation

  • You want Budget Planning on time

  • You need Tax Time Easier

  • You want to Track and Analyse Investments

  • You want to Determine Your Net Worth

On Cloud

  • Anywhere and anytime access – You can access your applications anytime and anywhere via a web browser from any device.
  • Affordable – Cloud requires no upfront costs, instead, you make regular payments which makes it an operating expense (OpEx). While the monthly cost adds up over time, maintenance and support services are included removing the need for annual contracts.
  • Predictable costs – Benefit from predictable monthly payments that cover software licenses, upgrades, support, and daily back-ups.

On Prime

  • Total Cost of Ownership – Since you are only paying for your user licenses once, an on-premise solution can have a lower Total Cost of Ownership (TCO) than a cloud system.
  • Complete control – Your data, hardware, and software platforms are all yours. You decide on the configuration, the upgrades, and system changes.
  • Uptime – With on-premise systems, you do not rely on internet connectivity or external factors to access your software.

Chart of Accounts

  • Accounts Receivable and Payable
  • Assets (Fixed Asset and Current Asset)
  • Revenue
  • Liabilities (Long Term Liabilities and short term liabilities)
  • Equity
  • Cost of Goods Sold and Expenditure

Voucher Defination

  • Cash Account
  • Bank Book
  • General Journal
  • Bank Receipt Voucher
  • Bank Payment Voucher
  • Cash Receipt Voucher
  • Cash Payment Voucher
  • General Journal Voucher

Voucher Posting

When you post a Voucher, the General Ledger is automatically updated.

After a Voucher is posted you can no longer make changes to it. To edit any data in a posted Voucher you must un-post it first. For more details see un-posting a Voucher.

Voucher Un-Posting

In certain situations you may need to reverse the process of posting a Voucher.

Un-posting a Voucher enables you to reverse the posted entries in your General Ledger and make corrections to the Voucher. The General Ledger keeps a record of the posted and un-posted transactions so that you have a complete audit trail of the changes