Overview
Complete double-entry accounting system with automated journal entries, financial reports, and daily cash reconciliation.
Chart of Accounts
Journal Entries
Financial Reports
Daily Closing
Double-Entry Bookkeeping
Fundamental Principle
Every transaction has equal debits and credits
Debit = Credit
Debit Side (Dr)
Assets ↑
Cash, Bank, Inventory increase
Expenses ↑
Salaries, Rent, Utilities increase
Liabilities ↓
Loans, Payables decrease
Credit Side (Cr)
Revenue ↑
Sales, Service income increase
Liabilities ↑
Loans, Payables increase
Assets ↓
Cash, Bank, Inventory decrease
Chart of Accounts
1000 - Assets
2000 - Liabilities
3000 - Equity
4000 - Revenue
5000 - Expenses
Journal Entries
Automatic Journal Entries
System automatically creates journal entries for:
- Sales transactions (when payment completed)
- Purchase orders (when goods received)
- Payroll processing (when salary paid)
- Expense recording
Example Journal Entry
JE-000001
Date: 2025-01-15
Description: Sales for the day
| Account | Debit | Credit |
|---|---|---|
| 1010 - Cash | $1,000.00 | - |
| 4010 - Sales Revenue | - | $1,000.00 |
| Total | $1,000.00 | $1,000.00 |
Financial Reports
Trial Balance
Lists all accounts with their debit and credit balances
| Account | Debit | Credit |
|---|---|---|
| Cash | $50,000 | - |
| Inventory | $30,000 | - |
| Accounts Payable | - | $15,000 |
| Sales Revenue | - | $100,000 |
| Expenses | $35,000 | - |
| Total | $115,000 | $115,000 |
Profit & Loss Statement
Shows revenue, expenses, and net profit
Balance Sheet
Shows assets, liabilities, and equity
Assets
Liabilities & Equity
Transaction Examples
Example 1: Cash Sale
Customer pays $500 cash for food
Example 2: Purchase Inventory
Buy $2,000 inventory on credit
Example 3: Pay Salary
Pay employee salary $3,000