Accounting

Customer Credit Notes

Credit notes reverse a previously posted invoice - partially or fully. Go to Accounting > Customers > Credit Notes.

Creating a Credit Note

1. Open the posted invoice.
2. Click Add Credit Note.
3. Choose refund type:

• Full Refund - Reverses entire invoice.
• Partial Refund - Select specific lines or enter an amount.

How Credit Notes Affect Accounting

• Reverses the original revenue and tax entries.
• Increases Accounts Receivable (reduces amount due).
• If the original invoice was paid, the credit note creates a credit balance that can be refunded or applied to future invoices.
• The refund is processed according to the original payment method (reverse payment, credit on account, etc.).

Credit Note Report

The credit note PDF shows the original invoice reference, reason for credit, and reversed amounts. Customise the report template in Technical → Reports.

Customer Invoices in Quickenerp

Customer invoices are created from Sales (via sales orders) or directly in Accounting. Go to Accounting > Customers > Invoices.

Invoice Form - All Fields Explained

Creating an Invoice - Step by Step

1. Go to Accounting > Customers > Invoices → Create.
2. Select Customer. Addresses and terms auto-fill.
3. Set Invoice Date and verify Due Date.
4. Add Invoice Lines: product, description, quantity, unit price, taxes.
5. Add a Journal Entry Label (appears in the General Ledger).
6. Click Confirm to post the invoice. Status changes to "Posted" (green).
7. Invoice number is auto-assigned (e.g. INV/2026/0001).
8. Click Send & Print to email the invoice PDF to the customer.

Invoice Statuses

• Draft - Being edited. Not yet posted to the general ledger.
• Posted - Confirmed. Creates journal entries and updates AR balance.
• Paid - Full payment received and reconciled.
• In Payment - Partial payment received.
• Overdue - Past due date without full payment.
• Cancelled - Voided. No accounting impact.

Invoice Reports & PDF Layout

Quickenerp generates a professional PDF for each invoice. Customise via:

• Company Logo - Upload in Settings → Companies.
• Invoice Report Template - Technical → Reports → Invoice. Modify QWeb template.
• Footer Text - Company settings → Terms & Conditions.
• Paper Format - Settings → General Settings → Paper Format (A4, Letter).

Recent Invoicing Improvements

• Batch Invoice Creation - Create multiple invoices at once from a list of sales orders.
• Invoice Auto-Send - Automatically email invoice when posted (toggle in settings).
• PDF Preview in Form - See invoice PDF preview without clicking Print.
• Invoice Line Sorting - Drag-and-drop reorder invoice lines.

Journals in Quickenerp

A journal groups similar types of transactions. Each journal has a default account and a numbering sequence. Go to Accounting > Configuration > Journals.

Journal Types

Journal Configuration Fields

• Journal Name - "Customer Invoices", "Vendor Bills", "Main Bank Account".
• Type - Determines available features (invoice creation, payment registration, etc.).
• Short Code - Abbreviation used in entry names (e.g. INV for Sales Journal).
• Default Account - The main account this journal posts to (e.g. AR account for Sales journal, Bank account for Bank journal).
• Sequence - Numbering: prefix + automatic number (e.g. "INV/2026/0001"). Each journal can have its own sequence.
• Entry Posting Mode - "Draft & Post" (entries draft first) or "Post Directly" (no draft state).
• Lock Date - Prevent posting entries before this date. Useful after closing a period.
• Currency - For multi-currency journals (e.g. USD Bank Account, EUR Bank Account).
• Payment Methods - Which payment methods are available in this journal (Manual, Check, SEPA, etc.).

Creating a New Journal

1. Go to Journals → Create.
2. Enter Name (e.g. "EUR Current Account").
3. Select Type (Bank).
4. Set Short Code (e.g. "BNK-EUR").
5. Select the Default Account (the bank account in the chart).
6. Choose sequence or let Quickenerp auto-create one.
7. Set the currency to EUR.
8. Save.

Journal Entries (General Ledger)

Each posted journal entry is visible in Reporting → General Ledger. Key fields:

• Journal Entry Number - Auto-assigned from sequence.
• Date - Entry date. Must be within open fiscal periods.
• Reference - Invoice/bill number or payment reference.
• Lines (Debit/Credit) - Must balance: sum of debits = sum of credits.
• Partner - Customer or vendor. Enables AR/AP reporting.
• Reconciled? - Green checkmark if fully reconciled.

Recent Journal Improvements

• Journal Dashboard - Each journal shows a mini-dashboard with total debits/credits, last entry date, and reconciliation status.
• Per-Journal Lock Dates - Set different lock dates for different journals (e.g. lock Sales journal earlier than Bank).
• Journal Grouping - Group related journals for consolidated reporting.

Fiscal Localisation Packages

Quickenerp includes pre-configured chart of accounts templates for many countries. These install the correct accounts, taxes, fiscal positions, and statutory reports.

Installing a Localisation Package

1. Go to Accounting > Configuration > Settings → "Fiscal Localisation" section.
2. Select your country from the dropdown.
3. Click Install. Quickenerp loads the chart template, default taxes, and fiscal positions.
4. Review the installed accounts under Chart of Accounts. Modify names if needed.
5. Set your default tax rates in Settings → "Default Taxes".

Available Localisations

Customising the Chart of Accounts

After installing a template, you can:

• Add new accounts as your business grows.
• Rename accounts to match your terminology.
• Archive unused accounts (click "Deprecated").
• Re-number accounts by editing codes (be careful with existing entries).
• Create account groups for better report readability.

Multi-Company Chart

Each company in a multi-company setup can have its own chart of accounts or share one. Configure in Settings → "Multi-Company" → "Share Chart of Accounts". If shared, all companies use the same accounts. If separate, each has independent accounts.

Chart of Accounts

The chart of accounts is the backbone of your accounting system. Go to Accounting > Configuration > Chart of Accounts.

Account Types

Creating an Account - All Fields Explained

Creating an Account - Step by Step

1. Go to Accounting > Configuration > Chart of Accounts → click Create.
2. Enter Code using a logical numbering scheme (e.g. 1100 for Checking Account, 1200 for AR).
3. Enter Name descriptive enough for report readers.
4. Select Type - this cannot be changed later without careful migration.
5. Check Allow Reconciliation only when needed (AR, AP, Bank). Overuse slows performance.
6. Click Save.

Account Tags

Tags classify accounts for specific reports. Go to Accounting > Configuration > Account Tags. Common tags:

• Tax Report Tags - Mark accounts included in VAT/GST returns (e.g. \"Sales 20% VAT\", \"Purchases 20% VAT\").
• Deferred Tags - Mark accounts for deferred revenue/expense automation.
• Internal Tags - Custom classification for your own reporting needs.

Account Groups

Groups create hierarchical reporting. For example:

• Current Assets (1100-1500)
• Cash & Bank (1100-1200)
• Accounts Receivable (1300)
• Inventory (1400)
• Non-Current Assets (1600-1900)
• Fixed Assets (1600-1700)
• Intangible Assets (1800)

Balance Sheet and P&L reports automatically respect the group hierarchy.

Recent Chart of Accounts Improvements

• Account Group Import/Export - Bulk create account groups via CSV import.
• Enhanced Search - Search accounts by code, name, or type in a single field.
• Account Status Indicators - Color-coded badges for reconciled/bank/cash accounts.

Accounting Menu Structure

The Accounting app has a comprehensive menu structure:

Dashboard Overview

• KPI Cards - Invoices to pay, overdue invoices, invoices to send, cash/bank balance.
• Bank Accounts - Summary of all bank balances with last reconciliation date.
• Invoices to Send - Draft invoices awaiting confirmation.
• Invoices to Pay - Overdue vendor bills.
• Cash Flow Forecast - Projected cash position based on receivables and payables.

Recent Accounting Improvements

• New Dashboard Layout - KPI cards redesigned with trend indicators (up/down arrows).
• Inline Cash Flow Forecast - Directly on dashboard without navigating to a separate report.
• Quick Actions - \"Create Invoice\", \"Register Payment\", \"Reconcile\".

The Accounting Module

Quickenerp Accounting is a full double-entry accounting system. It handles the complete financial cycle - from invoicing and payments to financial reporting and period-end closing. All entries are recorded in the general ledger using debits and credits, ensuring full audit trail and GAAP/IFRS compliance.

Core Accounting Concepts

Key Capabilities

• Double-entry bookkeeping with flexible chart of accounts.
• Customer invoices, credit notes, and refunds.
• Vendor bills, credit notes, and payments.
• Bank reconciliation with automatic bank statement import.
• Multi-currency with automatic rate updates.
• Tax management: sales tax, VAT, GST, withholding tax.
• Budget creation and real-time monitoring.
• Financial reports: P&L, Balance Sheet, Trial Balance, General Ledger, Cash Flow, Aged Receivables.
• Period-end closing with lock dates and audit trail.

Integration with Other Modules