Double-entry books built into your POS
The Accounting add-on keeps a proper set of double-entry books inside SeroPOS. Sales and purchase payments post to the ledger accounts you map, and the trial balance, balance sheet, cash flow statement and ageing reports are a click away, without exporting anything.
Double entry accounting in SeroPOS
Chart of accounts
Create the default accounts in one click or build your own, with types, sub-types and parent accounts.
Payments post automatically
Map each payment method to a payment account and a deposit-to account, and new sales and purchase payments post on their own.
Balanced journal entries
Multi-line journals that will not save unless debits equal credits, with one-step reversal.
Financial statements
Trial balance, balance sheet with current-year earnings, and a statement of cash flows by the indirect method.
Receivables and payables ageing
Summary and detail ageing reports for what customers owe you and what you owe suppliers.
Budgets and working papers
Budgets by month, quarter or year, and one Excel pack of reports for your accountant.
Books next to your sales
Most small businesses run their till in one system and their books in another, and someone spends hours each month moving numbers between them. The Accounting add-on puts double-entry books inside SeroPOS, so the sales and payments you already record become ledger entries without a second round of typing. Your books stay current as you trade.
Accounting is its own menu in the back office, with Chart of Accounts, Journal Entry, Transfer, Transactions, Budget, Reports and Settings. The dashboard gives an overview of the chart of accounts with balances by account type. Permissions decide who can open each part, so a bookkeeper can post journals while staff never see the books at all.
How sales and purchases reach the ledger
In accounting settings, Map transactions sets a default payment account and deposit-to account for each payment method, separately for sales payments and purchase payments. Card sales might deposit to a card clearing account, cash to cash on hand, and cheques to your bank. Once mapped, new POS transactions post automatically.
The Transactions screen has tabs for sales payments and purchase payments. Use it to see what has posted and to map any individual payment by hand, for example older payments made before you set up the mapping. Check the Transactions screen now and then to make sure every payment has landed in the right account before you close a month.
- Map each payment method once
- Separate maps for sales and purchase payments
- New transactions post automatically
- Map older payments from the Transactions screen
Journals, transfers and budgets
Journal entries handle everything that is not a sale or a purchase: depreciation, accruals, owner drawings, loan payments and corrections. A journal must balance before it saves, and any journal can be reversed in one step. Transfers move money between accounts, such as from the till float to the bank.
Budgets let you set a figure for each account by month, quarter or year for the financial year, then export the budget to Excel or PDF in that layout. Each has its own prefix setting, so references are easy to follow. References make it easy to trace an entry back when your accountant asks about it.
Reports your accountant will recognise
The reports hub includes a trial balance, a ledger report for any account, a balance sheet as of any date with current-year earnings worked out, and a statement of cash flows by the indirect method. Accounts receivable and accounts payable each have a summary and a detailed ageing report. Every report uses the same ledger, so the figures agree.
Working papers pull the trial balance, balance sheet, profit and loss, general ledger and related reports into one Excel file named by client and period. Share it with a link that can be revoked and expires, so your accountant has what they need without logging in. It saves a lot of back-and-forth at year end.
What it does not do
The Accounting add-on in SeroPOS does not include bank feeds or bank reconciliation. Reconcile your bank by comparing statements with the account ledgers, or ask about SeroBooks, Sero's separate accounting product, if you need bank feeds and a fuller accounting suite. Ask us which suits you best. We can talk you through the differences.
Accounting settings include a reset that wipes all accounting data. It cannot be undone, so only use it when you are certain, and talk to your accountant first. If your accountant works in QuickBooks, the QuickBooks integration may suit you better than keeping books in SeroPOS. Either way, your sales data stays in one place.
Frequently asked questions
Is accounting included in my SeroPOS plan?
Accounting is an add-on module, added to your SeroPOS plan. It adds a chart of accounts, journals, transfers, budgets, transaction mapping and financial reports to the back office. Talk to us about adding it to your account. Your existing sales and settings are not affected when the add-on is turned on.
Do my POS sales post to the books automatically?
Yes, once you map them. In accounting settings, map each payment method to a payment account and a deposit-to account for sales and purchase payments. New transactions then post to those accounts automatically. Older payments can be mapped by hand from the Transactions screen.
Can I reconcile my bank account in SeroPOS?
Not in the SeroPOS Accounting add-on. It has account ledgers you can compare with your bank statement, but no bank feeds or reconciliation screen. SeroBooks, a separate Sero product, includes bank feeds and reconciliation. Many small businesses reconcile monthly against the account ledger.
What financial statements can I run?
Trial balance, balance sheet, statement of cash flows, a ledger for any account, and accounts receivable and payable ageing in summary and detail. The profit and loss report in Reports covers income and expenses. Each report filters by date, so you can check any month or year.
Should I use the Accounting add-on or QuickBooks?
If you or your accountant already use QuickBooks, the QuickBooks integration sends your sales data there. If you want books inside SeroPOS without another system, the Accounting add-on keeps them next to your sales. Ask your accountant which they prefer.