Basic Accounting

Customer Support DEALPOS
[Updated]

Where to access the Menu
The accounting menu is available on the Dashboard on the top right side.

Access Control List

The accounting menu is only accessible if you have one of the below roles, to setup the roles go to your Group settings.

1 Accounting has access to view basic journals and chart of accounts
2 AccountingInput has access to input journal
3 AccountingEditor has access to edit journal
4 AccountingReport has access to view report menu in the accounting


Introduction

This add ons of DEALPOS will enable you to create journals so you can view your balance sheet, income statement, and other accounting reports.

To use this you will need to be familiar with some basic accounting principles and terminology.

Chart of Accounts

Our system already provides chart of account for you. But you can replace or add new chart of account in our system.

1 Asset  All the possessions that you have
2 Liability  Debts and obligations of the business 
3 Equity  Business capital
4 Revenue  Amounts that a business earns from selling goods or providing services to its customers
5 Expense  Cost that occurs as part of a company's operating activities

Debit And Credit

Debits and credits are terms used in accounting and bookkeeping (and have been used for centuries). They are a key part of the double entry system, which means that every business transaction will affect a minimum of two accounts. One of the accounts will receive a debit entry and another account will receive a credit entry. The amounts entered as debits must be equal to the amounts entered as credits.

To illustrate, let's assume that a company pay Telephone & Internet fees $10,000 from its cash. The company will record a Credit of $10,000 in its Cash account, and a debit of $10,000 in its Telephone & Internet account

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 Below is the accounting flow in tabular form.

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if you want to know more about accounting add-ons, please download the "Getting Started for Accounting" manual book OR you can speak with one of our sales representative using the livechat.

 

 

 

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