Accounting
Track transactions, manage your chart of accounts, and generate financial reports.
The Accounting module gives you control over your financial data. Record transactions, maintain your chart of accounts, and generate reports to understand your business performance.
Warning
The Accounting module is available to organization owners and admins only.
Core Concepts
- Transactions — Individual financial entries (income, expenses, transfers) recorded against accounts.
- Chart of Accounts — The structured list of all accounts used to categorize your financial activity.
- Reports — Summaries of your financial position including profit & loss and balance sheet views.
How It Works
- Set Up Your Chart of Accounts — Review the default accounts or add custom ones for your business structure.
- Record Transactions — Log income and expenses. Transactions from invoices and bills can be recorded automatically.
- Reconcile — Match transactions against your bank statements to ensure accuracy.
- Run Reports — Generate P&L and balance sheet reports to understand profitability and financial health.
Features
Account Types
| Type | Description |
|---|---|
| Asset | Resources owned by the business (cash, receivables, inventory) |
| Liability | Obligations owed to others (payables, loans) |
| Equity | Owner's interest in the business |
| Revenue | Income from business operations |
| Expense | Costs incurred in running the business |
Tips
- Invoices marked as Paid in the Sales module can auto-generate accounting entries when journal integration is enabled.
- Use Reports at month-end to verify your books before closing the period.
- The default chart of accounts follows standard double-entry bookkeeping conventions.