Accounting
Last update:
07/21/2026
Completed
In this topic
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
Payment Terms & Collections
Payment Terms
Payment terms define when and how invoices should be paid. Go to Accounting > Configuration > Payment Terms.
Common Payment Term Types
| Type | Example | Due Date Calculation |
|---|---|---|
| Immediate | Due on Receipt | Due date = invoice date |
| Net Days | Net 30, Net 60 | Due date = invoice date + N days |
| End of Month | EOM 30 | Due date = last day of next month |
| After Invoice Month | EOM + 15 days | Due date = EOM + 15 days |
| Early Payment Discount | 2/10 Net 30 | 2% discount if paid within 10 days, otherwise due in 30 |
| Fixed Date | Due on 15th of next month | Due date = 15th of the month after invoice date |
| Multiple Installments | 50% now, 25% in 30 days, 25% in 60 days | Multiple due dates with percentages |
Customer Payment Process
- Invoice posted → customer is sent invoice.
- Customer pays (bank transfer, check, card, portal payment).
- Go to Accounting > Customers > Payments → Create.
- Select customer, payment amount, payment method, bank journal.
- Click Validate - payment is posted.
- Reconcile the payment with the invoice(s) it covers.
Follow-up & Collections
Quickenerp can send automated follow-up emails for overdue invoices:
- Configure Follow-up Levels in Accounting → Configuration → Follow-up Levels.
- Each level defines: days overdue, email template, and action (e.g. add interest, send final notice).
- Quickenerp auto-sends emails based on the schedule.
- View overdue invoices in Reporting → Aged Receivables.
Rating
0
0
Commenting is not enabled on this course.
This documentation is updated continuously. Some features described here may be renamed, deprecated, or still being finalized.