The web back office · 10 articles

SeroPOS back office help: Accounting

The Accounting module adds a chart of accounts, journal entries, transfers and budgets, and maps POS payments to the right accounts. Financial reports and working papers give your accountant what they need.

Accounting10

Read the accounting dashboard in SeroPOSOpen Accounting from the back office sidebar to land on the accounting dashboard at /accounting/dashboard. It gives you a quick view of your chart of accounts, with the balance of each account type (assets, liabilities, equity, income and expenses) in one place. From the top bar of the module you can move straight to Chart of Accounts, Journal Entry, Transfer, Transactions, Budget, Reports and Settings.Set up your chart of accounts in SeroPOSYour chart of accounts lives at Accounting › Chart of Accounts (/accounting/chart-of-accounts). On a new business, click Create Default Accounts to load a standard set in one go, then edit or add accounts as you need. Each account has an account type, a sub type, a detail type and an optional parent account, so you can group accounts in a tree. Open any account to see its ledger: every debit and credit that makes up its balance.Post a journal entry in SeroPOSPost a manual journal entry at Accounting › Journal Entry (/accounting/journal-entry). Add as many lines as you need, each with an account and a debit or a credit, and SeroPOS refuses to save the entry until total debits equal total credits. Leave the reference number empty to get the next number with your journal prefix. Use journal entries for adjustments such as accruals, depreciation or correcting a misposting.Reverse a journal entry in SeroPOSTo undo a journal entry without rewriting history, post a reversing entry: a new journal on a later date with every debit turned into a credit and every credit into a debit. Both entries stay in the books, so your audit trail shows the original and the correction. Work from Accounting › Journal Entry, and use a reversing entry instead of deleting whenever the original falls in a period you have already reported or filed.Transfer money between accounts in SeroPOSRecord money moved between two of your accounts, such as the day's cash going into the bank, at Accounting › Transfer (/accounting/transfer). Each transfer has a from account, a to account, an amount, a date and an optional note. It moves the balance in your books without touching income or expenses, and it gets its own reference number with the transfer prefix you set in Accounting › Settings.Set a budget in SeroPOSSet budgets at Accounting › Budget (/accounting/budget). Pick the financial year, then enter a budget for each account by month, by quarter or for the whole year. When it's done you can export the budget to Excel or PDF in the same layout to share with a partner, lender or accountant.Map POS payments to accounts in SeroPOSMap transactions so POS sales and supplier payments post to your ledger without manual journals. In Accounting › Settings, under Map Transactions, choose a default payment account and deposit-to account for each payment method, separately for sales payments and purchase payments. New transactions then post automatically. Payments from before you set the defaults can be mapped one by one from Accounting › Transactions.Run accounting reports in SeroPOSAccounting › Reports (/accounting/reports) is the hub for your financial statements. From one page you can run the Trial Balance, a Ledger Report for any account, the Balance Sheet as of any date, the Statement of Cash Flows, and receivable and payable ageing, each as a summary or in detail. The same page has the working paper pack for your accountant.Send working papers to your accountant from SeroPOSGive your accountant everything they ask for at the start of a review in one Excel workbook. On Accounting › Reports, the Working paper pack card has a Download for this year button. The pack holds the trial balance, the general ledger with opening and closing balances, profit and loss, the balance sheet and the journal, with integrity checks on the cover sheet. The file name carries your business name and the period, so an accountant with many clients knows whose it is.Set currency rates in SeroPOS accountingTurn on the currencies you trade in and keep their exchange rates current at Accounting › Settings › Currencies. For each currency you switch on, enter today's rate as 1 unit = the amount in your business currency, and save. The list shows each rate and where it came from, so you can tell a rate you typed from one that was set another way.