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
Understanding & Configuring Journals
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
| Type | Purpose | Default Accounts |
|---|---|---|
| Sales | Customer invoices and credit notes. | Receivable Account, Revenue Account, Tax Accounts |
| Purchases | Vendor bills and credit notes. | Payable Account, Expense Account, Tax Accounts |
| Bank & Cash | Bank transactions, checks, and cash movements. | Bank Account |
| Cash | Cash transactions (POS, petty cash). | Cash Account |
| Miscellaneous | General journal entries (opening, adjustments, closing). | Depends on entry |
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
- Go to Journals → Create.
- Enter Name (e.g. "EUR Current Account").
- Select Type (Bank).
- Set Short Code (e.g. "BNK-EUR").
- Select the Default Account (the bank account in the chart).
- Choose sequence or let Quickenerp auto-create one.
- Set the currency to EUR.
- 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.
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This documentation is updated continuously. Some features described here may be renamed, deprecated, or still being finalized.