Accounting & Bookkeeping Module
This is one of the most important parts of every business. Accounting involves analyzing, interpreting, and summarizing financial data to make informed business decisions. While bookkeeping focuses on the day-to-day recording of financial transactions, accounting involves a more strategic view of a company’s financial health.
One of the best accounting software in Nepal with all-in-one features.
Explore All Phases
Check out all the features listed below to know more about our accounting bookkeeping module so you can use more efficiently depending on your business need.
Phase 01
Charts of accounts
Account types: Assets, Liabilities, Equity, Expenses, Revenue.
Pre-configured generally used account details type. Option to add new account details type
Pre-configured accounts, sub-accounts
Accounts add/edit/delete/activate-deactivate, initial balance as of a particular date
Transactions (mapping different transactions to account type)
Journal entry
Budgeting
Transfer from one account to another
Reports – Trial Balance, Balance Sheet, & Ledger
Phase 02
Account reconcile
Reports – Purchase payment aging,
Sales payment aging & more advance reports.
Phase 03
Automatic mapping of transactions based on rules
Reports – Advance Reporting.
Using Accounting Module
Let’s see how you can use this module to manage all of the bookkeeping & accounting parts of your businesses in our system.
Charts Of Accounts
Starting with the chart of accounts, which is a fundamental tool in financial management within an ERP system. It helps ensure accurate financial recording, reporting, analysis, and compliance while providing a foundation for effective decision-making and control.
The chart of accounts serves several important purposes in a KB CloudERP system
- Financial Reporting
- Financial Analysis
- Regulatory Compliance
- Internal Control
- Integration with Other Systems
- Scalability and Flexibility
Journal Entry
Journal entries in an KB CloudERP system are used for recording financial transactions, updating the general ledger, making accruals and adjustments, allocating costs, facilitating consolidation, ensuring compliance, and enabling financial reporting and analysis. They are critical for maintaining accurate financial records and supporting effective financial management within the organization.
Transferring One Account To Others
The Account Transfer feature allows you to transfer balances from one Account to another, or to transfer the balances of a range of Accounts to a single Account.
You can also view the all previous transfer balance on the transfer dashboard, with all the necessary details.
You can also filter out today, yesterday, last 7 days, 30 days and more.
Check All Transactions
Check out your business transaction with ease in one place.
You can also map & edit transaction, which is super important to handle all types of transactions.
We have covered 4 types of transaction here which are:
- sell
- sales payments
- purchase
- purchase payments
Set Budget For Financial Year
An annual budget feature lays out a businesses projected income and expenses for a 12-month period. The process of creating an annual budget involves balancing out a business’ sources of income against its expenses. In many instances, particularly for non-individuals, an annual budget is expanded to include a balance sheet and cash flow statement.
What is financial year budget for business?
- An annual budget is a plan for a company’s projected expenditures over the course of a year.
- Annual budgets act as benchmarks against which an individual or company can measure progress and as tools to help better manage money.
- Budgets can be in balance (expenditures = revenues), in deficit (expenditures exceed revenues), or in surplus (revenues exceed expenditures).
See All Reports
Reports are one of the most important thing in the accounting which decides how the business is performing and what are the actions that we need to take in the future.
On the reports tab we have also covered every aspect of accounting reports that any business needs.
Here are the 7 reports that available on the KB ClouldERP accounting module:
- Trial Balance: A trial balance displays summary of all ledger balances, and helps in checking whether the transactions are correct and balanced.
- Balance Sheet: This report gives you an immediate status of your accounts at a specified date. You can call it a “Snapshot” view of the current position (day) of the financial year.
- Account Receivable Ageing Details (Details): This report shows details of all the sales pending invoices in mentioned days range as per the due date.
- Ledger Report: The ledger report contains the classified and detailed information of all the individual accounts including the debit and credit aspects.
- Account Receivable Ageing Report (Summary): This report shows summary of all the sales pending invoices in mentioned days range as per the due date.
- Account Payable Ageing Report (Summary): This report shows summary of all the purchase pending invoices in mentioned days range as per the due date.
- Account Payable Ageing Details (Details): This report shows details of all the purchase pending invoices in mentioned days range as per the due date.
KB CloudERP reserves the right to change pricing at any time.
Free Plan offers 999 years model so if you are using more than that you might need to upgrade your plan unless we extend more. For the customers on Professional, Business & Other Existing paid plan subscriptions charges may apply if they want to add custom features.
Invoice limits for Every plan apply to both approving and sending invoices.
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