Accounting Setup

Overview 

There are no fixed Transactions in BOSEnterprise. All transactions that affect accounting will need to be set up from scratch. How they affect your financials would have to be specified manually. To set up Accounting, open the Accounting setup by navigating to Setup > Accounting > Transactions Types.

Note: Only transactions that are flagged as accounting will affect your financials. 

NB! Bank Accounts are required to be linked to Entities (In a multi-entity environment). 

Transactions

Menu (button)

Setups

VAT Control - Specify how the Transaction will affect your VAT Control. Options include:

Dr Category -  Specify which accounting category the transaction is Debiting.  For customers and suppliers, make use of Receivables or Payables. 

Dr Account -  Select a Debit account. This will act as a default account on transactions and should only be selected if the Debit account should be fixed. For example, Customer Receipts that debit a bank account. In some cases, you could have multiple accounts that can be debited on one transaction. For example, Expense and Cost of Sales accounts. In this case, leave the selection blank. Note, this will always be left blank when debiting Payables or Receivables. 

Cr Category -  Specify which accounting category the transaction is Crediting.  For customers and suppliers, we use Receivables or Payables. 

Cr Account -  Select a Credit account. This will act as a default account on a transaction and should only be set if the Debit account should be fixed. For example, a Supplier Payment that credits a bank account. In some cases, you could have multiple accounts that can be credited on one transaction. In this case, leave the selection blank. Note, this will always be left blank when crediting Payables or Receivables. 

Display

When multiple Account Categories are linked to a Section (Revenue, Cost of Sales or Expenses), the Categories are displayed as the second-level group in the Statement for Profit or Loss.