Accounting
Last update:
07/21/2026
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Accounting Overview
- Introduction to Quickenerp Accounting
- Setting Up the Chart of Accounts
- Understanding & Configuring Journals
- Creating Customer Invoices
- Creating & Managing Vendor Bills
- Bank Account Setup & Transactions
- Tax Configuration & Management
- Multi-Currency Setup & Management
- Creating & Monitoring Budgets
- Profit & Loss Report
- Period-End Closing Process
- Accounting Navigation & Dashboard
- Chart of Accounts Templates & Fiscal Localisation
- Credit Notes & Refunds
- Bank Reconciliation
- Fiscal Positions
- Balance Sheet
- Payment Terms & Collections
- Trial Balance, General Ledger & Other Reports
Chart of Accounts
Journals
Customer Invoices
Vendor Bills
Bank & Reconciliation
Taxes
Multi-Currency
Budgets
Financial Reports
Period-End & Fiscal Year Closing
Introduction to Quickenerp Accounting
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
| Concept | Model (Technical Name) | Description |
|---|---|---|
| Journal Entry | account.move | Every financial transaction. Contains lines (debits/credits) that must balance. |
| Journal | account.journal | A grouping of entries by type: Sales, Purchases, Bank, Cash, Miscellaneous. |
| Account | account.account | An individual record in the chart of accounts. Categories: Asset, Liability, Equity, Income, Expense. |
| Invoice | account.move (type=out_invoice/out_refund) | A customer invoice or credit note. Creates receivable and revenue entries. |
| Bill | account.move (type=in_invoice/in_refund) | A vendor bill or credit note. Creates payable and expense entries. |
| Payment | account.payment | Records money received from customers or paid to vendors. Linked to invoices. |
| Reconciliation | account.reconcile | Matching payments to invoices or bank transactions to accounting entries. |
| Tax | account.tax | Sales tax, VAT, or GST configuration. Defines rate, computation, and accounts. |
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
| Module | Integration |
|---|---|
| Sales | Customer invoices created from sales orders. Down payments handled. |
| Purchases | Vendor bills created from purchase orders. Three-way matching. |
| Inventory | Stock moves generate journal entries for inventory valuation and COGS. |
| Expenses | Employee expenses posted to accounting on approval. |
| Payroll | Salary journals post salaries, deductions, and employer contributions. |
| eCommerce | Online orders create invoices automatically on checkout. |
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