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Accounting and reports

Your chart of accounts, journal entries, ledgers, financial periods, tax, and every report in the Reports menu.

Every invoice, bill, payment and expense you post ends up in one double-entry ledger. These articles explain how to see and adjust that ledger: the chart of accounts, journal entries, the general ledger and trial balance and financial years and periods. Then see how tax is calculated and use the Reporting Center to find each report, from Profit & Loss to the country tax reports.

• Use the Chart of Accounts

  See and add the accounts your books are made of, and set up accounting for a new company.

• View and post journal entries

  See every entry in your books, post a manual entry and void one made by hand.

• Read the General Ledger and Trial Balance

  See every line posted to one account with its running balance, and check that debits equal credits.

• Lock financial periods

  Stop new postings in a closed month by locking its accounting period.

• How tax is calculated (GST, VAT and US sales tax)

  Where tax comes from on a document, how it is worked out for India, Denmark and the US, and where it is recorded.

• Set up US tax jurisdictions and rates

  Add the states, counties and cities you collect sales tax for, and their rates.

• Find your reports in the Reporting Center

  A map of every report, what it answers, and who can see it.

• Run the Profit & Loss report

  See revenue, expenses and net profit for any date range.

• Run the Balance Sheet

  See what you own, what you owe and what is left over on any date.

• Receivables and Payables Ageing

  See which invoices and bills are still unpaid and how overdue each one is.

• Cash Flow and Day Book

  Follow real cash movement over a period, and list every transaction posted on one day.

• Sales, Purchases and Profitability reports

  See what you sold and bought, to and from whom, and the gross profit on each item.

• Tax Summary and VAT Period Summary

  See tax collected, tax paid and the net amount due for a period, with a Danish VAT view by quarter.

• GST HSN/SAC Summary and GSTR export (India)

  Group your outward supplies by HSN/SAC code and download an invoice-wise CSV to prepare your GST return from.

• US Sales Tax by Jurisdiction report

  See taxable sales and tax collected per state, county and city, and download an invoice-wise CSV.

• Lead Funnel, Win / Loss and Forecast vs Actual

  The three sales-pipeline reports in the Reports menu, and what each one counts.