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• Everything you should know about creating a Sales Invoice

  Sales Invoice A Sales Invoice is a bill that you send to your Customers against which the Customer makes the payment. Sales Invoice is an accounting transaction. On submission of Sales Invoice, the system updates the receivable and books income against a Customer Account. To access the Sales Invoice list, go to: ++Home > Accounting > Accounts Receivable > Sales Invoice++ Before crVery popular

• Who is a Shareholder and How to create a Shareholder?

  A Shareholder is someone who owns shares of a Company. A Shareholder is any person, company or other institution that owns at least one share of a company’s stock. Because shareholders are a company's owners, they reap the benefits of the company's successes in the form of increased stock valuation. If the company does poorly, shareholders can lose money if the price of company stock declines. Any profit or loss made by a Company belongs to the Shareholders and hence the Shareholders areVery popular

• Purchase Invoice

  Purchase Invoice A Purchase Invoice is a bill you receive from your Suppliers against which you need to make the payment. Purchase Invoice is the exact opposite of your Sales Invoice. Here you accrue expenses to your Supplier. Making a Purchase Invoice is very similar to making a Purchase Order. To access the Purchase Invoice list, go to: ++Home > Accounting > Accounts Payable > Purchase Invoice++Very popular

• Item Tax Template

  Item Tax Template Item Tax Template is useful for item wise taxation. If some of your Items have tax rates different from the standard tax rate assigned in the Taxes and Charges table, then you can create an Item Tax Template and assign it to an Item or Item Group. The rate assigned in the Item Tax Template will get preference ovVery popular

• Chart of Accounts

  The Chart of Accounts is the blueprint of the accounts in your organization. The overall structure of your Chart of Accounts is based on a system of double entry accounting that has become a standard all over the world to quantify how a company is doing financially. Chart of Accounts is a tree view of the names of the Accounts (Ledgers and Groups) that a Company requires to manage its books of accounts. OneHash sets up a simple chart of accounts for each Company you create, but you can modifyPopular

• How to create a Journal Entry?

  A Journal Entry is an entry made in the general ledger and it indicated the affected accounts. A Journal Entry is a multi purpose transaction where the debit and credit accounts can be selected. All types of accounting entries other than Sales and Purchase transactions are made using the Journal Entry. A Journal Entry is a standard accounting transaction that affects multiple Accounts and the sum of debits is equal to the sum of credits. A Journal Entry Impacts the main ledger. Journal EntriPopular

• What is that you need to know about Payment entries?

  A Payment Entry is a record indicating that payment has been made for an invoice. Payment Entry can be made against the following transactions. Sales Invoice Purchase Invoice Sales Order (Advance Payment) Purchase Order (Advance Payment) Expense Claim Internal Transfer In OneHash, there are two options through which User can capture the payment: Payment Entry (Default) Journal Entry Here are diagrams to understand the flow: In Sales: ![](https://storage.crisp.chat/usPopular

• How to set up multi currency accounting?

  Multi Currency Accounting Transacting in two different currencies is known as Multi Currency Accounting. In OneHash, you can make accounting entries in multiple currencies. For example, if you have a bank account in foreign currency, you can make transactions in that currency and the system will show bank balance in that specific currency only. Bank accounts in foreign currencies can be for other branches of your own company or Debtors/Creditors account for foreign Customers/Suppliers. ||Popular

• Creating a Pricing Rule

  Pricing Rule A Pricing Rule defines the discount/pricing rules that apply based on set conditions. A Pricing Rule has many options using which you can control the pricing of an Item. Filters like quantity, date, groups, and other conditions can be set. A Pricing Rule is somewhat similar to a Tax Rule. Following are the few cases which can be addressed using Pricing Rule: As per a promotional sale policy, if the Customer purchasesPopular

• How to create an advance payment entry?

  Advance Payment Entry Payment done by the Customer/Supplier before the invoice is sent is an Advance Payment. Generally, advance payment is done in the case of high value deals. Consider a Customer- Jane D'souza placing an order for a luxury furniture item costing ₹24,000 She is asked to give some advance before the furniture house begins work on her order. She gives them ₹10,000 in cash. In OneHash, advance payment entry is created using Payment Entry. If there exist a Sales Order, youPopular

• How to create a Payment Term?

  Payment Terms A Payment Term helps to set a schedule according to which payments will be made. A Payment Term defines a specific payment slab. For example, 50% payment on shipping and 50% on delivery of the item. You can save your business's payment terms on OneHash and include it in all documents in the sales/purchase cycle. OneHash will make all the General Ledger entries accordingly. In OneHash , the Payment Terms form only defines portion percentages. The actual payment schedule can eaPopular

• Dimensional Accounting

  Accounting Dimensions Dimensional accounting means tagging each transaction with appropriate dimensions like Branch, Business Unit, etc. This allows you to maintain each segment separately, thereby limiting the overall maintenance on GL accounts and your Chart of Accounts remains pure. Cost Center and Project are treated as dimensions by default in OneHash. On setting a field in Accounting Dimension, that field will be added in transactions reports where applicable. In OneHash you can crPopular

• How to use Deferred Expense?

  Deferred Expense Deferred expense is a cost that has already been incurred, but which has not yet been consumed. The cost is recorded as an asset until such time as the underlying goods or services are consumed; at that point, the cost is charged to expense. A Deferred Expense is initially recorded as an asset, so that it appears on the balance sheet (usually as a Current Asset, since it is not used as of now and will probably be consumed within one year).Some readers

• Creating a Payment Request

  Payment Request A Payment Request is used to request payment from a Customer for a Sales Order or Invoice. Payment Request is sent via email and will contain a link to a Payment Gateway if set up. You can create a payment request via a Sales Order or a Sales Invoice. A Payment Request can also be set up against a Purchase Order or a Purchase Invoice for internal records. Then, payments can be processed in bulk using a [Payment Order](https://help.onehash.ai/en/article/payment-order-m2lwt6Some readers

• Payment Reconciliation: Matching Payments with Invoices

  Payment Reconciliation Payment Reconciliation is used to link payments with invoices. In complex scenarios, especially in the capital goods industry, sometimes there is no direct link between payments and invoices. You send invoices to your Customers and your Customer sends you block payments or payments based on some schedule that is not linked to your invoices. In such cases, you can match Payments with Invoices using Payment Reconciliation. To access Payment Reconciliation, go to:Some readers

• Accounts Settings

  Accounts Settings There are various account settings in OneHash to restrict and configure actions in the Accounting module. Freeze accounting transactions up to specified date, nobody can make/modify entry except the specified Role. Users with this Role are allowed to set frozen accounts and create/modifySome readers

• What is Plaid Integration?

  Plaid Integration OneHash offers the possibility to synchronize your bank accounts through a service called Plaid. Please check the Plaid FAQ to see if your country is supported. If your instance is connected to Plaid, you are able to synchronize your bank account transactions without having to manually import a CSV or XLSX file. Settings In order to give OneHash access to PlaidSome readers

• How to Post an Invoice Discounting Transaction?

  Invoice Discounting Invoice discounting is the practice of using a company's unpaid sales invoices as collateral for a short term loan, which is issued by a bank or a finance company. To access the Invoice discounting list, go to: ++Home > Accounting > Banking and Payments > Invoice Discounting++ You need to create following ledgers in order to post invoice discounting transactions. Short Term Loan: A ledger under the 'Current Liabilities' > 'Loans (Liabilities)'Some readers

• How to use Deferred Revenue?

  Deferred Revenue Deferred revenue refers to advance payments a Company receives for products or services that are to be delivered or performed in the future. It is also known as unearned revenue. The company that receives the prepayment records the amount as Deferred Revenue on their balance sheet as a liability. Deferred revenue is a liability because it refers to revenue that has not been earned and represents products or services that are owed to a Customer. As the product or serviceSome readers

• What are accounting entries?

  Accounting Entries The concept of accounting is explained with an example given below: We will take a "Tea Stall" as a company and see how to book accounting entries for the business. Mama (The Tea-stall owner) invests Rs. 25000 to start the business. Mama invested Rs. 25000 in Company, hoping to get some profit. In other words, company is liable to pay Rs. 25000 to Mama in theSome readers

• Tax Category

  Tax Category A Tax Category allows applying one or more Tax Rules to transactions based on various criteria. If you want to apply different kinds of taxes based on Tax Categories, create Tax Categories from: 1. Prerequisites Before creating and using a Tax Category, it is advised to create the following first: Tax Rule 2. How does a Tax Category work Creating a Tax CategSome readers

• What is a Credit Note and how is it created in the CRM?

  Credit Note A Credit Note is a document sent by a seller to the Customer, notifying that a credit has been made to their account against the goods returned by the buyer. A Credit Note is issued for the value of goods returned by the Customer, it may be less than or equal to the total amount of the order. The user can make a Credit Note against the Sales Invoice or they can directly make Credit Note from the Sales Invoice without reference. Note that to creatSome readers

• Creating a POS (Point of Sale) Invoice

  Point of Sale A Point of Sale refers to the time and place where a retail transaction takes place. For retail operations, the delivery of goods, accrual of sale and payment all happens in one event, that is usually called the 'Point of Sale' (POS). In OneHash all Sales and Purchase transactions, like Sales Invoice, Quotation, Sales Order, Purchase Order etc. can be edited via the POS. There are two steps to set up POS: To access POS, go to: ++Home > Retail > Retail Operations > POS++Some readers

• What is a Debit Note and how is it created?

  Debit Note A Debit Note is a document sent by a buyer to the Supplier notifying that a debit has been recorded against the goods returned to the Supplier. A Debit Note is issued for the value of the goods returned. In some cases, sellers are seen sending Debit Notes which should be treated as like another invoice. A Debit is for your record of the debit against the Items your return. The user can make a Debit Note against the Purchase Invoice or they can dirSome readers

• What is a BRS or Bank Reconciliation Statement?

  Bank Reconciliation A Bank Reconciliation entry is used to match OneHash account statements with your bank account statements. If you are receiving payments or making payments via cheques, the bank statements will not accurately match the dates of your entry, this is because the bank usually takes time to “clear” these payments. Also, you may have mailed a cheque to your Supplier and it may be a few days before it is received and deposited by the Supplier. In OneHash you can synchronizeSome readers

• Tax Rule

  Tax Rule A Tax Rule automatically applies taxes to transactions based on preset rules. You can define which Tax Template must be applied on a Sales / Purchase transaction using Tax Rule. This is decided by various factors like Customer, Customer Group, Supplier, Supplier Group, Item, Item Group or a combination of these. To access the Tax Rule list, go to:Some readers

• Setting a Subscription

  Subscription If you offer a service that requires renewal in a certain time period (yearly, monthly, quarterly, etc.), you can use the Subscription feature in OneHash to track them. The Subscription master captures all the details required for the auto-creation of Sales Invoice on subscription expiry. Let's consider a use-case of OneHash subscription itself. Our hosting plans are available on a yearly basis. Each Customer's account has a subscription expiry date, after which customers mustSome readers

• Creating a Share Transfer

  Share Transfer A Share Transfer is the Issue, Transfer, or Purchase of Company shares from one party to another. There may be times when you want to change the share structure of your Company; either by adding new Shareholders or by changing the existing proportion of shares between Shareholders. A Share Transfer is the process of transferring existing shares from one person to another; either by sale or gift. When creating a new Shareholder, they need to be issued shares first. Only thenSome readers

• Currency Exchange

  Currency Exchange The Currency Exchange form in OneHash stores exchange rates manually stored by the User. By default, OneHash automatically fetched the current exchange rates for currencies as per the market. However, you can store fixed exchange rates and use them. You need to enable 'Allow Stale Exchange Rates' in Accounts Settings for using the exchange rates stored in the Currency Exchange form. To access the Currency Exchange list, go to: ++Home > Accounting > Multi Currency > CurreSome readers

• Inter Company Invoices

  Inter Company Invoices An Inter Company Journal Invoice is done between organizations that belong to the same group. Along with creating Purchase Invoices or Sales Invoices for a single company, you can create inter-linked invoices for multiple companies. For example, you can create a Purchase Invoice for a company say 'Company ABC', and create a Sales Invoice against this Purchase Invoice for another company say 'Company XYZ' and link them together.Some readers

• How to create a Subscription Plan?

  Subscription Plan A Subscription Plan stores information about the Item being subscribed, its price, and billing interval. To access the Subscription Plan list, go to: ++Home > Accounting > Subscription Management > Subscription Plan++ Before you can set a Subscription, you need a Subscription Plan. Go to the Subscription Plan list and click on New. Select the item that will be subscribed. Select a Price Determination whether Fixed or basedSome readers

• Journal Entry Template

  Journal Entry Template A Journal Entry Template lets you set and select a predetermined list of accounts and options while making a Journal Entry. To access the Journal Entry Template, go to: Home > Accounting > General Ledger > Journal Entry Template Go to the Journal Entry Template List and click on New. Add the following details:Some readers

• Major Accounting Reports

  Accounting Reports Some of the major accounting reports are: General Ledger Go to: ++Accounts > Company and Accounts > General Ledger++ The General Ledger is a detailed report for all transactions posted to each account and for every transaction there is a Credit and Debit account so it lists them all up. The report is based on the table GL Entry and can be filtered by many pre-defined filters like Account, Cost Centers, Party, Project and Period etc.Some readers

• Bank Account

  Bank Account In OneHash, Bank Accounts can be created for a Company as well as other parties like Customers, Suppliers etc. Doing this lets you record all the bank transactions correctly for accounting accuracy. You can add Bank Accounts in OneHash for Company. Supplier, Customer, or any other party with whom transactions are carried out. Then the Bank Account can be chosen in Payment EntriesSome readers

• How to create a POS (Point of Sale) Profile?

  POS Profile POS includes advanced features to cater to different functionality, such as inventory management, CRM, financials, warehousing, etc., all built into the POS software. Before modern POS, all of these functions were done independently and required the manual re-keying of information, which could lead to entry errors. If you are in retail operations, you want your Point of Sale to be as quick and efficient as possible. To do this, you can create a POS Profile for a user. To acceSome readers

• Budgeting

  Budgeting Budgeting is a financial plan that helps controlling Company expenses. In OneHash, you can set and manage budgets against a Cost Center or a Project. This is useful in controlling your expenses. You can also create separate Accounting Dimensions to tag transactions with different fields. For example, if you are doing online sales, you can set a budget for search advertisements and configure OneHash to stop or wSome readers

• Loan Management

  Loan Loan record is the loan account which contains all the information regarding a loan. Loan record acts as a loan account which contains all the applicant details, repayment schedule, and repayment info. All the loan related documents like Loan Disbursement, Loan Repayment, etc are linked to a Loan. To access the Loan List list, go to: ++Home > Loan Management >Some readers

• Mode of Payment

  Mode of Payment The Mode of Payment stores the medium through which payments are made or received. To access the Mode of Payment list, go to: ++Home > Accounting > Settings > Mode of Payment++ Go to the Mode of Payment list and click on New. Enter a name for the Mode of Payment. Set a type whether Cash, Bank, or General. This is useful for knowing the mode of payment used in [Point of Sales](https://help.onehash.ai/en/article/creating-a-poFew readers

• Bank

  Bank In OneHash, saving different banks lets you upload an excel sheet and map the transactions to the ledger. The transactions are created as Bank Transactions. These can then be used for reference and reports. This is done using Bank Reconciliation. To access Bank, go to: ++Home > Accounting > Bank Statement > Bank++ ![](https://storage.crisp.chat/users/helpdesk/website/6f1c2c7b8034d000/originFew readers

• Loan Repayment

  Loan Repayment Loan Repayment entry is used to track repayments against loans. To access the Loan Disbursement list, go to: ++Home > Loan Management > Disbursement and Repayment > Loan Repayment++ Before creating a Loan Disbursement, you must create the following first: [Loan](https:Few readers

• Tax Withholding Category

  Tax Withholding Category Tax Withholding Category is Tax Deducted at Source. According to this, a person responsible for making payments is required to deduct tax at source at prescribed rates. Instead of receiving tax on your income from you at a later date, the govt wants the payers to deduct tax beforehand and deposit it with the government. To access the Tax Withholding Category list, go to: ++Home > Accounting > Taxes > Tax Withholding Category++ Before creatinFew readers

• Managing Transactions in Multiple Currency

  Managing Transactions In Multiple Currency In OneHash, transactions can be created in the base currency as well as in parties' (customer or supplier) currency. If the transaction is created in the parties' currency, their currency symbol is updated in the print format as well. If you are quoting to a Customer in a different currency, you will have to update the conversion rates to enable OneHash to save the information in your standard currency. This will help you to analyze the value of yoFew readers

• Loan Security

  Loan Security A Loan Security is the actual security that is going to be pledged against a loan. During a loan process, if the loan for which the customer is applying is a secured loan then some kind of security needs to be pledged against that loan. Loan Security specifies the actual security that is going to be pledged against a Loan. To access the Loan Security list, go to: ++Home > Loan ManagemeFew readers

• Finance Book

  Finance Book A Finance Book is a book against which all the accounting entries are booked. You can have multiple finance books. For example, one book for tax authorities and another for stockholders. This is useful if you have to report depreciation and other values in different ways based on regulatory requirements. You can also use this to post alternate balance sheets for your internal reporting. Finance Book is not a mandatory setup. But if you choose to create multiple Finance Books,Few readers

• What Is The Differences between Total And Valuation In Tax And Charges?

  Purchase Tax or Charges Categories Consider Tax or Charge field in Purchase Taxes and Charges master has three values. Total Valuation Total and Valuation Let's consider an example to understand an effect of each charge type. We purchase ten units of item, at the rate of 800. total purchase amount is 800. Purchased item has 4% VAT applied on it, and INR 100 was incurred in transportation.Few readers

• Loyalty Program

  Loyalty Program A Loyalty Program allows Customers to earn points by spending a certain amount and lets them redeem the points in future purchases. A Customer Loyalty Program is a structured and long-term marketing effort that provides incentives to repeat Customers. Successful programs are designed to motivate Customers in a business's target market to return often, make frequent purchases, and shun competitors. To access the Loyalty Program list, go to: ++Home > Retail > Retail OperatioFew readers

• Loan Disbursement

  Loan Disbursement Once a Loan is sanctioned, the loan amount is ready to be disbursed. For that, a Loan Disbursement entry is created. To access the Loan Disbursement list, go to: ++Home > Loan Management > Disbursement and Repayment > Loan Disbursement++ Before creating a Loan DisburseFew readers

• Update Current Assets

  Update Current Assets Before importing current assets, make sure that you have created the required ledgers under Chart of Accounts > Assets > Current Assets group. Go to: Accounting > Company and Accounts > Journal Entry > New. Enter Posting Date. Select the appropriate current asset ledger in the Account column and enter the value in Debit. SelecFew readers

• Update Fixed Assets

  Update Fixed Assets To import all the existing fixed assets first create the asset record and then create a Journal Entry to update the General Ledger. Create Asset record for each asset that your company owns which is not fully depreciated. To create a new Asset: Create an Item with 'Is fixed Asset' enabled. Go to Assets > Assets > New. Enter Asset Name. Enter IFew readers

• Credit Limit

  Credit Limit Credit Limit is the maximum amount of credit you are willing to offer to a Customer. A Credit Limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit. From a Customer's perspective, it is the maximum amount of goods or services they can get without paying money upfront. You can set the Credit Limit in Customer, Customer Group, and in the Company. When a Sales Order or a Sales Invoice is submitteFew readers

• Exchange Rate Revaluation

  Exchange Rate Revaluation In OneHash, you can make accounting entries in multiple currencies. For example, if you have a bank account in a foreign currency, you can make transactions in that currency and the system will show bank balance in that specific currency. The purpose of Exchange Rate Revaluation master is to adjust the balance in General Ledger accounts according to any changes in the currency exchange rates. This is useful when you are closing your accounts books and want to updateFew readers

• Loan Security Type

  Loan Security Type Loan Security Type defines the type of security that can be pledged against a loan like Stocks, land, etc. During a loan process, if the loan for which the applicant is applying is a secured loan then some kind of security needs to be pledged against that loan. In Loan Security Type master you can define that type of security. To access the Loan Security Type list, go to: ++Home >Few readers

• Loan Application

  Loan Application A Loan Application contains details about the applicant and loan security details for review. During a loan process, the first step a customer or employee has to do is submit a Loan Application for review. In case of a secured loan, a Loan Application can also contain proposed loan securities. To access the Loan Application list, go to: ++Home > Loan Management > Loan > Loan ApplicatFew readers

• Loan Type

  Loan Type A Loan Type is where you can define various loan types and their properties like rate of interest, loan account details, etc. To access the Loan Type list, go to: ++Home > Loan Management > Loan > Loan Type++ Enter Loan Name. Enter Company. Enter yearly rate of interest to be charged on the principal amount. Enter Mode Of Payment and account dFew readers

• Update Accounts Receivables

  Update Accounts Receivables Accounts Receivables is the balance amount your Customer owes you towards the Sales Invoices you have already sent to them. You can import the accounts receivables details using the Opening Invoice Creation Tool. To access it, go to: ++Home > Accounting > Opening and Closing > Opening Invoice Creation Tool++ Go to the Opening Invoice Creation Tool. Select the Company. Select Sales in Invoice Type. Click onFew readers

• Dunning

  Dunning A document to be sent as a persistent demand for debt payment. Dunning is a document to store and send as a persistent demand for debt payment against an unpaid Sales Invoice. To access the Dunning list, go to: ++Home > Accounting > Dunning++ Before creating a Dunning, there must be a Sales Invoice since it is created against it. Sales InvoiceFew readers

• Payment Order

  Payment Order A Payment Order is an internal document to record bulk payments against Suppliers. In big corporations, the decision of making payment to Suppliers is done by someone like the Purchase Manager. The action of making the payments is done by an Accountant (Accounts User). The Payment Order is the communication between the Purchase Manager and the Account notifying the Accountant to proceed with the Payment. In OneHash, using the Payment Order, you can fetch multiple Payment ReqFew readers

• Update Current Liabilities

  Update Current Liabilities Before importing current liabilities, make sure that you have created the required ledgers under Chart of Accounts > Liabilities > Current Liabilities group. To import details of current liabilities: Go to: Accounting > Masters and Accounts > Journal Entry > New. Enter Posting Date. Select the appropriate current liability ledgers in the Account column and enter the valuFew readers

• Loan Security Pledge

  Loan Security Pledge Loan Security Pledge contains the loan security and the quantity pledged against a Loan. To access the Loan Security Pledge list, go to: ++Home > Loan Management > Loan > Loan Security Pledge++ Before creating and using a Loan Security, it is advised that you create the follFew readers

• Loan Security Shortfall

  Loan Security Shortfall If loan to security value ratio falls below a specific value, a Loan Security Shortfall is automatically created for that specific loan. To access the Loan Security Shortfall list, go to: ++Home > Loan Management > Loan Security > Loan Security Shortfall++ A Loan Security Shortfall cFew readers

• Period Closing Voucher

  Period Closing Voucher A Period Closing Voucher indicates that the profit/loss for an accounting period has been balanced and the books can start fresh. At the end of every year or (quarterly or maybe even monthly), after completing auditing, you can close your books of accounts. This means that you make all your special entries like: Depreciation Change in value of Assets Defer taxes and liabilities Update bad debts Then book your Profit or Loss. By doing this, your balance in yFew readers

• Update Capital Accounts

  Update Capital Accounts Before importing capital accounts, make sure that you have created the required ledgers under Chart of Accounts > Liabilities > Capital Accounts group. To import details of capital accounts: Go to: Accounting > Masters and Accounts > Journal Entry > New. Enter Posting Date. Select the appropriate capital account ledgers in Account column and enter the value in Credit column. Select 'Temporary Opening' ledger in Account and enter the balancing amFew readers

• Opening Balance in Accounts

  Opening Balance in Accounts The opening balance is the balance that is brought forward at the beginning of an accounting period from the end of a previous accounting period or when starting out. This also applies when starting a new Company and would like your offline balances to be updated in OneHash. If you are a new company, you will have minimal opening balances to be imported. However, if you are migrating from a legacy accounting system like Tally or a Fox Pro baFew readers

• Loan Interest Accrual

  Loan Interest Accrual Loan Interest will be accrued monthly on first day of every month for demand loans and one day before payment day for term loans. To access the Loan Interest Accrual list, go to: ++Home > Loan Management > Disbursement and Repayment > Loan Interest Accrual++ A Loan interest accrual contaFew readers

• POS Cashier Closing

  Cashier Closing A retail counter may have multiple people operating it throughout the day in different shifts. Cashier closing in POS allows a cashier to record the sales and details at the end of his/her shift. To access the Cashier Closing list, go to: ++Home > Retail > Retail Operations > POS++ Go to the Cashier Closing list and click on New. Enter the shift start and end time. Enter any expenses incurred during the shift like refreshmentFew readers

• Round Off Account Validation

  Round of Account Validation Message Question When submitting an invoice, why does it ask for a Round Off Account? How to update it? Answer In the Purchase Invoice, Grand Total is calculated based on various calculations like: Qty multiplied by Rate = Amount Tax and other charges applied to each item Discount applied to some or all the items Multiplication with exchange rate, in cFew readers

• Common Receivable Account

  Common Receivable Account As per the party model, a common receivable account called Debtor is auto-created. This is a default Receivable Account for all the Customers. If needed, you can also create a new receivable account and update in the Customer master. Question: Should I create separate Receivable Account Account for each Customer? Answer: You can, but it's not a recommended approaFew readers

• Update Accounts Payables

  Update Accounts Payables Accounts Payables is the balance amount you owe your Suppliers towards the invoices they have already sent you. You can import the accounts payables details using Opening Invoice Creation Tool. To access it, go to: ++Home > Accounting > Opening and Closing > Opening Invoice Creation Tool++ Go to the Opening Invoice Creation Tool. Select the Company. Select Purchase in Invoice Type. Click on Add Row and selecFew readers

• Process Loan Interest Accrual

  Process Loan Interest Accrual Process Loan Interest record is created on every loan Interest accrual cycle and is also used for manually processing loan interest accrual. To access the Process Loan Interest Accrual list, go to: ++Home > Loan Management > Loan Processes > Process Loan Interest Accrual++ Loan Interest will be accrued monthly on the first day of every month for demand loans and one daFew readers

• Process Statement Of Accounts

  Process Statement Of Accounts Process Statement Of Accounts is a tool which helps you send Statement Of Accounts (General Ledger Report) and Ageing (Accounts Receivable Summary) Report as a PDF to your customers in bulk via email either manually or automated periodically. This feature is useful when you want to send email updates to customers periodically about their transactions (like Sales Invoices). In the PDF attachment sent via emails sent to the customers, for each customer, there willFew readers