If you using DealPOS accounting, you can learn more about the features we provide in our accounting application by reading this article. DealPOS automatically creates a journal of POS transactions for accounting purposes. So you don't need to input the journal manually, and the accounting reports are also automatically generated based on the journals that have been successfully created. Check out the article below for a more complete explanation:
Table of Content :
II. Cash and Bank
Here's summary of financial position show with graphics on going in a period.
II. Cash and Bank
Find out total balance of your Chart of Account of Cash & Bank.
III. Chart of Account (COA)
Accounts : A chart of accounts (COA) is an index of all the financial accounts in the general ledger of company. In short, it is an organizational tool that provides a digestable breakdown of all the financial. Able to create or add new COA.
Category : able to add new category of Chart of Account.
IV-I. Manual Journal
The general journal or manual journal is the book that entity firstly records all of the daily financial transaction from POS automatically. It is also called a book of original entries because all of the transctions are records in this book before moving to other books.
IV-II. Pay Money
An expense in accounting is the pay money, or costs incurred, by a bussiness in their effort to generate revenues.
IV-III. Receive Money
An revenue in accounting is the receipt money, or other revenue by a bussiness in their effort to generate revenues.
IV-IV. Transfer Funds
Transferring funds debits the receiving such as petty cash and credits the sending cash with the same amount (debits and credits the Journal Entry account) or usually transferring cross Bank Account.
V-I. General Ledger
A general ledger represents the record-keeping system for company's financial data with debit and credit account records validated by a trial balance.
V-II. Income Statement
An income statement is one of the three important financial statements used for reporting company's financial performance over a specific accounting period.
V-III. Balance Sheet
Is a financial statement that reports a company's assets, liabilities, and shareholders's equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
You might also like to read this article :
For an explanation of basic accounting, you can check this article : Basic Accounting
One of the accounting reports that is commonly needed is the General Ledger, you can check a more detailed explanation regarding that : General Ledger
In DealPOS accounting, you don't need to manually enter journals, if there are transactions that are not generated into Accounting DealPOS, you can generate them manually following this article : Generate Journal