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Discover Accounting modules

• Get Started (See below)

1. Customer Invoices
2. Customer Credit Notes
3. Customer Age Analysis
4. Supplier Invoices
5. Supplier Credit Notes
6. Supplier Age Analysis
7. Bank
8. Ledger
9. Cost of Sales
10. VAT Control
11. Trial Balance
12. Income Statement
13. Balance Sheet
14. Financial Close Off Date

And other important aspects of Accounting such as:

• POS: Point of Sale and Cash-up
• FAQs - Accounting

Get Started

The following is important to look at before starting with the Accounting Modules:

• Accounting Setup
• Opening Balances

Accounting Setup

Set-up your Accounting module in Settings & Defaults by creating Categories and Accounts, and setting up VAT Types, Entry Types and Credit Terms.

For a detailed explanation on Accounting Setups, click here.

Opening Balances

An Opening Balance is the amount of money in a company's account that is brought forward at the start of an accounting period.

Opening Balances can be loaded in General Ledger accounts. Accounts Receivable and Payable should be loaded as Customer and Supplier Invoices directly in the Ledger - ideally 1 Invoice for each Ageing period: 30 days, 60 days, etc.

Setting Up

Create an Entry Type for Opening Balances as per the screenshot below. The Type = OB is the flag that will exclude these transactions from showing up when the Trial Errors filter is used. This means the opening balance transactions can be ‘single-entry’ - only the Debit or Credit account needs to be set.

See Ledger for more on Opening Balances.

The Benefits of BOS Accounting

Automated transactions

While your staff are doing their day-to-day processing, they are also creating the transactions that automatically update your accounting.

For instance, creating a Customer Invoice will automatically update your Sales, Age Analysis, VAT and Income Statement.

Payments and Receipts can be imported directly from your bank account using the QuickEasy BOS banking module.

Ledger

View all of your accounting transactions can be viewed from one interface which is provided by the ledger.

Receivables and age analysis

QuickEasy Accounting software’s customer age analysis and accounts receivable functions include periodic reports that can categorise a customer’s accounts that are received, according to how long an invoice has been outstanding.

• Accounts will be flagged when they have exceeded their credit limit.
• There is functionality to suspend overdrawn accounts directly from the Age Analysis.
• It includes a filter to view all active accounts or outstanding accounts only.
• The grid view helps filter, group and sort all listed accounts with any outstanding amounts over 90 days and can be sorted from the highest to the lowest amount owing.
• It has a date filter that allows you to check the status of any account at any date. This is useful for sending backdated statements.
• This function allows you to add remarks and reminders linked to an account.
• The drill-down functionality allows you to open the Customer Summary.
• You are able to batch e-mail statements in no more than four mouse-clicks.
• All your monthly statements are delivered quickly and efficiently.

Payables and supplier age analysis

The supplier age analysis or the accounts payable functions are both periodic reports that categorise a company’s accounts payable according to the length of time an invoice has been outstanding. See more on Automated Debtors on the QuickEasy website.

Income statement analysis

The income statement, also known as the profit and loss statement, indicates whether your business is making a profit or a loss and can be viewed in any date period.

• Values are displayed for the selected period as well as for the same period as it was a year ago.
• View your growth as a percentage in the growth column.
• The companion graph provides a visual display of the year-on-year changes in nett profit, cost of sales and expenses.
• Users can drill-down to the account summary which displays all the transactions for the selected account and period.

Trial balance

The trial balance function provides an overview of all transactions that make up the accounts. This includes income statements as well as balance sheet transactions. If the debit and credit columns balance, then the accounting transactions have been captured correctly.

• The QuickEasy BOS trial balance function gives an opening balance for each account as well as the movement of income for the selected period.
• This is then totaled in the debit or credit column.
• This balance can be viewed for the full financial year or for any group of periods in the financial year.
• By default, the trial balance is viewed as a summary of the accounts.
• In the detailed view it gives users the option to show all the transactions that make up the trial balance.
• The QuickEasy trial balance is interactive and offers far more functionality than a printed report.
• Users are also able to group and filter columns on the income statement or on the balance sheet accounts.
• Drill-down functionality is provided to view all the transactions that make up an account’s movement in the account summary. Users are also able to open any transaction in the ledger from the account summary.

Balance sheet

The balance sheet provides a snapshot of the company’s financial position as at a specific date.

• Liabilities and equity are grouped so that the total can be compared to assets, which should be equal.
• The balance sheet displays the values for the selected date as well as comparative values for the same date one year ago. The difference is indicated as a percentage in the variance column.
• The companion graph provides a visual display of the year-on-year changes in assets, liabilities and equity.
• Users can drill-down to the account summary which displays a list of all the transactions for the year preceding the date selected.