Financial

Last updated: 2026-03-29

Financial Overview

The Financial module is the central accounting hub of your ERP. It tracks all money flowing in and out of your organization. You will use this module to manage your Chart of Accounts, record customer payments, pay vendors, create manual journal entries, and generate critical financial statements like Balance Sheets and Income Statements.

When Do I Use This?

  • Daily Operations: When receiving cash from a customer or writing a cheque to a supplier.
  • Month-End Close: When accountants need to post manual journal entries for depreciation or corrections.
  • Reporting: When management asks for a Profit & Loss report (Income Statement) or wants to see how much money a specific client owes you (Party Statement).
  • Setup: When defining new tax rates, bank accounts, or currencies for the business.

How To Use

Recording a Receipt (Money Coming In)

Use a Receipt when a customer, patient, or client pays you.

  1. Go to Financial → Receipt and click + New.
  2. Select the Party (the person or company paying you).
  3. Enter the Date and the Amount.
  4. Select the Journal (e.g., "Cash Receipts Journal"). The system will automatically fill in the default receiving bank account.
  5. Choose the Payment Method (e.g., Cash, Credit Card).
  6. Click Save.
  7. To finalize and update the accounting ledger, click Receipt Validate. Once validated, the receipt cannot be changed.

Recording a Payment (Money Going Out)

Use a Payment when you are paying a vendor, supplier, or issuing a refund.

  1. Go to Financial → Payment and click + New.
  2. Select the Party you are paying.
  3. Enter the Amount and choose the appropriate Journal.
  4. Click Save.
  5. Click Payment Validate to officially post the payment to your ledger.

Creating a Manual Journal Entry (Transaction)

Accountants use this to manually adjust account balances.

  1. Go to Financial → Transaction and click + New.
  2. Select the Journal, Date, and add an optional Reference or Note. Save the header.
  3. In the lines section below, add your Debit and Credit lines. You must select an Account and enter the Debit or Credit amount.
  4. Ensure the total Debits equal the total Credits (the system will check if it is "Balanced").
  5. Click Transaction Post.
Note: If you make a mistake on a posted transaction, you cannot delete it. You must open the transaction and click Transaction Reverse to create a reversing entry.

Financial Reports

The system generates standard accounting reports located under Financial → Financial Statements:

Report Name What It Shows
Account Statement A detailed ledger for a single account over a specific date range. Shows opening balance, all debits/credits, and the closing balance.
Balance Sheet A snapshot of your company's financial position up to a certain date, displaying Assets, Liabilities, and Equity.
Income Statement Also known as Profit & Loss. Shows Revenue and Expenses over a selected time period to calculate your Net Income.
Party Statement Shows how much a specific person or company owes you (Accounts Receivable) and how much you owe them (Accounts Payable). If you run this without selecting a party, it shows a list of all outstanding balances for everyone.
Trial Balance A list of all active accounts and their activity during a period. Used by accountants to ensure total debits equal total credits.
Chart of Accounts (CoA) A real-time, click-to-expand tree view of all your accounts and their current balances. Found in the main Financial menu.

Key Field Descriptions

Receipts & Payments

Field Name Description
Party The customer, vendor, or employee involved in the transaction.
Serial / Number An automatically generated number to track the document.
Journal The accounting book this transaction belongs to (e.g., Bank Journal, Cash Journal).
Receivable / Payable The specific bank or cash account the money is entering or leaving. This usually auto-fills when you select the Journal.
Validated / Posted A read-only checkbox that confirms the transaction is officially locked into the accounting records.

Account Setup

Field Name Description
Sequence The account number (e.g., 1010, 4000). Determines the order accounts appear on reports.
Parent If this account belongs under a summary account (e.g., "Cash on Hand" under "Current Assets"), select the parent here.
Type Defines the behavior of the account (Asset, Liability, Equity, Revenue, Expense). Controls normal balances.
Currency The specific currency this account holds (e.g., USD, EUR).
Tip: When filling out a Receipt or Payment, always select your Journal first. The system is programmed to automatically populate the correct bank or cash account based on the journal you select, saving you time and preventing errors.
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