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Accounting

Accounting

This course covers the full Accounting module in Quickenerp. You will learn how to set up your chart of accounts, create customer invoices and vendor bills, manage payments, reconcile bank transactions, configure taxes, create budgets, and generate financial reports. Every lesson provides step-by-step instructions, field-level explanations, and real business scenarios.

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Responsible System
Last Update 07/21/2026
Completion Time 1 week 1 day 15 hours
Members 1
Accounting & Finance
Credit Notes & Refunds
Credit Notes & Refunds

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.
  • Select reason: Product Defect, Customer Return, Goodwill, Pricing Error, Other.
  • Check Re-inventory Products if returned items should go back to stock.
  • Click Create Credit Note. A draft credit note is created.
  • Review → click Confirm to post.
  • The credit note number is auto-assigned (e.g. CINV/2026/0001).

    • 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.

    Accounting Overview
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    New Content
    Accounting Navigation & Dashboard
    Accounting Navigation & Dashboard
    Preview

    Accounting Menu Structure

    The Accounting app has a comprehensive menu structure:

    Menu Group Menu Item Purpose
    DashboardDashboardKPI cards: overdue invoices, draft invoices, cash/bank balances, expenses to process. Quick links to common actions.
    CustomersInvoicesAll customer invoices. Filter by status: Draft, Posted, Paid, Overdue.
    CustomersCredit NotesCustomer refund/credit documents.
    CustomersPaymentsIncoming payments from customers.
    VendorsBillsAll vendor bills. Filter by status.
    VendorsVendor Credit NotesRefund documents from vendors.
    VendorsPaymentsOutgoing payments to vendors.
    ConfigurationSettingsAccounting-specific settings: chart template, fiscal year, tax rounding, etc.
    ConfigurationChart of AccountsFull list of all accounts. Create/edit/archive accounts.
    ConfigurationJournalsManage all journals. Each transaction type has its own journal.
    ConfigurationTaxesDefine tax rates, computation rules, and tax groups.
    ConfigurationFiscal PositionsMap taxes based on customer location (intra-EU, export, reverse charge).
    ConfigurationPayment TermsDefine payment schedules: Net 30, Due on Receipt, 2/10 Net 30.
    ConfigurationPayment MethodsConfigure payment providers and methods.
    ConfigurationBudgetsCreate and manage budget periods compared to actuals.
    ReportingProfit & LossIncome statement for a period.
    ReportingBalance SheetFinancial position at a point in time.
    ReportingExecutive SummaryCombined P&L and Balance Sheet with key ratios.
    ReportingTrial BalanceAll accounts with debit/credit balances. Drill-down to journal items.
    ReportingGeneral LedgerAll journal entries sorted by account. Complete transaction history.
    ReportingAged ReceivablesOutstanding customer balances by age bracket.
    ReportingAged PayablesOutstanding vendor balances by age bracket.
    ReportingTax ReportSales and purchases summary per tax. Used for VAT/GST filing.
    ReportingAudit TrailSequential log of all posted entries with timestamps.

    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\".
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    New Content
    Credit Notes & Refunds
    Credit Notes & Refunds
    Preview

    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.
  • Select reason: Product Defect, Customer Return, Goodwill, Pricing Error, Other.
  • Check Re-inventory Products if returned items should go back to stock.
  • Click Create Credit Note. A draft credit note is created.
  • Review → click Confirm to post.
  • The credit note number is auto-assigned (e.g. CINV/2026/0001).

    • 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.

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    New Content
    Balance Sheet
    Balance Sheet
    Preview

    Balance Sheet

    Go to Accounting > Reporting > Balance Sheet. Shows the company's financial position at a specific date.

    Sections

    • Assets: Current (Cash, AR, Inventory) and Non-Current (Fixed Assets, Intangibles).
    • Liabilities: Current (AP, Accrued Expenses, Short-term Loans) and Non-Current (Long-term Debt, Deferred Revenue).
    • Equity: Capital, Retained Earnings, Current Year Profit/Loss.
    • Total Assets = Total Liabilities + Equity - Must balance.

    Customisation

    • All customisations from P&L apply (date range, compare, group by, export).
    • The Balance Sheet is typically run on the last day of the reporting period.
    • Use Comparison Mode to see period-over-period changes in assets/liabilities.
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    This documentation is updated continuously. Some features described here may be renamed, deprecated, or still being finalized.