This step is a go-back, just to make sure that the finance is working as planned, and if any issues occurred, this page would direct you to what the problem is. To access simply Click on Finance Setup.

In an admin-controlled system, there are more tabs to the setup, which are used as building blocks to the finance system.

To access the Chart of accounts, simply click on Chart of Accounts. Once accessed to create the chart of account, which is the fundamental requirement for the finance module to start producing reports, merely import the chart of account by clicking on Import Chart of Account > Download Chart of account template (Shown in the figure below). Fill in the data required in the excel sheet, then upload the template and import the chart of account.

Chart of Accounts is the necessary template to be present within the system for any financial action to occur because it holds the variables entered and adds them up every step of the way.

Once the chart of accounts is created, it’s time to link these accounts into each tab shown below:

For Sales Invoice, Purchasing Invoice, Receipt Voucher, Payment Voucher, Inventory, and Salaries, it will all be the same; simply put the account to be debited and the account to be credited.

For the tax, we need to identify the Sales account and the Purchase account concerning the chart created.

Finally, the petty cash accounts need to be pre-defined to enter the amount for the account defined simply.

We also define the financial period in which a report should be made because the reports are always given at the year-end. So, the system must know an end date to differentiate between one period and the other.

The system is also equipped to handle multiple currencies at different exchange rates. In case you are not familiar with the exchange rate, you could click on Show Converter on the top right.

The converter will add the conversion concerning the first currency selected by clicking on the (+) sign.

Simply click on Tax right next to currency; this tax will be added to the report or specific accounts defined here.

Fill in the details for the cheque store and click save to add it. The cheque store stores any cheques. It acts like a bank to store the cheques in.

Fill in the details of treasuries and save; the treasuries act like a bank for the company.

Fill in bank details and then click save. These banks are the banks that the company deals with and are authorized to be used in the payroll while paying an employee.

To get started in finance, right after setting up, access the opening balance to place the amounts for which the system should start with. To access Opening Balance, Hover over modules > Hover over Finance > Click on Opening Balances. The balance could either be inserted manually or downloaded in a template and then import for easy use.

To access any kind of transaction, Hover over Modules > Transaction Log > and choose the type of transaction. These transactions occur through one of the pre-defined Cheques / Treasuries / Banks in sections 1.6 – 1.8, so all the transactions are summarized.

Invoices are created in the case that a product is being sold or purchased and the money is outstanding or has been collected.

To access sales invoices Hover over Financial Transactions > Click on Sales Invoices.

Sales invoices are created when a product is sold, and the amount is collected or outstanding.

Plenty of actions could happen on the sales invoice page firstly filtering options are available, and a quick overview of the amounts invoiced, collected, and outstanding. On the bottom right, the highlighted area provides a full report of the invoices that have been issued for a specific filter or a full report.

As for a single invoice, it could be flagged for immediate attention on the bottom right. It could also be viewed, sent, returned, cloned, or just canceled the invoice by hovering over the settings icon on the far right of the corresponding invoice. There is also the option of posting to finance once the invoice is locked in.

Further actions could be taken for the sales invoice, such as creating a whole new invoice which in turn automatically creates a sales order. A unique point of sale could be made by viewing all sales orders and receipts. In the case of excess invoices, the import function of the system allows you to download a template, fill it and import it into the system easing data inputs.

Also, right next to the Actions button is “Tax Invoices.” The tax invoices just export all taxes due which are connected to the government portal.

At the point of sale, it requires the data of the customer and invoice to add an item and then print the invoice.

In creating a sales invoice any element that has (*) next to it means the elements must be filled.

The “Main” contains all information relating to the invoice, and “Line items” includes the items that will be invoiced. “Payment terms” is how the invoice will be paid, whether it’s in cash or installments, and if it’s installments, how will they be divided? “Terms and Conditions,” “Contract,” and “Documents” are additional data that could be added to the invoice.

All invoices could be returned and linked to the invoices created originally.

To access Sales Return Invoice Hover over Financial Transactions > Click on Return Sales Invoices.

The sales return could be created by clicking on Add return invoice.

Select the Sales invoice then all the line items will be shown as shown below:

This feature also allows you to select the number of quantities that will be returned.

Another option for doing the process quicker is to go to the sales invoice list then hover over the settings icon and click on return as shown below.

To access Purchase Return Invoice Hover over Financial Transactions > Click on Return Purchase Invoices.

The purchase return could be created by clicking on Add return invoice.

Select the purchase invoice then all the line items will be shown as shown below:

You could also select how many quantities are to be returned.

Another option for doing the process quicker is to go to the purchase invoice list then hover over the settings icon and click on return as shown below.

A purchase invoice can be accessed by Hovering over Financial Transactions > Clicking on Purchase Invoices.

Purchases invoices are created when a product is to be purchased and the amount is collected or outstanding.

Much like a Sales invoice, all features are the same. To extract a report, hover over export and click on “Full Report” filtering functions are available, and the creation of a new Purchase Invoice is done by clicking on the green icon on the top right of the screen.

There are two purchase invoices on this screen, the posted and the not posted. For the posted invoices, when you hover over the settings on the far right of the corresponding invoice, you could either do a return or print. However, for not posted invoices, you could print, edit, or delete the invoice.

To create a purchase invoice, you need to fill in the data and add the item being purchased. All elements containing (*) need to be filled.

To access Receipts, Hover over Financial Transactions > Click on Receipts.

Receipts are produced when the money is collected.

Firstly, a new receipt could easily be created by clicking on the green button on the top right. Like the sales invoice, a report can be viewed by clicking on “Report view” and has filtering features. To create a new voucher, click on the green icon on the top right.

By hovering on a specific receipt, a post button appears, which allows it to post into finance, which is the accounting ledgers.

Hovering over the setting on the far right of the corresponding receipt will allow print, edit, or delete the receipts.

Creating a new voucher will require filling in these details. Any element containing (*) means the data must be filled.

To access Payments, Hover over Financial Transactions > Click on Payments.

Payments are created when the money is given.

To create a new voucher, click on the green icon on the top right.

Similar to the Receipt posting concept, not posted payments could be printed, edited, or deleted.

For posted payments, it could only be printed.

Creating a new voucher will require filling in these details. Any element containing (*) means the data must be filled.

To access petty cash Hover over Financial Transactions > Click on Petty Cash.

Petty cash is created upon a petty transaction occurs; they are usually in small amounts.

It has the same filtering features as the rest of the system. To create a new transaction, click on the green icon on the top right.

To add to the petty cash, a specific transaction should be linked by a line item and filled in the details. Any element containing (*) means the data must be filled.

To access Journal vouchers, Hover over Financial Transactions > Click on Journal Vouchers.

The Journal vouchers collect every transactional detail that was not picked automatically or by petty cash.

Similar to the vouchers, unposted transactions could print, edit, and delete.

Posted transactions can only be printed.

To add to the journal voucher a specific transaction should be linked by a line item and filled in the details. Any element containing (*) means the data must be filled.

To access finance reports, Click on Finance Reports.

There is a wide range of reports that can all be accessed through the tabs right below the header. All reports are provided on this page; select the report required and view it freely. All reports are automatically filled with each transaction occurring and posted, this happens following the chart of accounts created earlier.

For all the reports, you can click on the highlighted part to extract the data.

In the statement of account, all the details relating to the specific bank account are displayed in it.

Ledger entries contain the details for a specific document, and the amount of credit due for this account is displayed for quick report analysis.

This is the final report taken at the end of every period and the end of the Accounting Year. It sets forth clearly the Assets and Liabilities of the Company as of a given date. CorporateStack Finance module allows you to keep the financial accounts open for any period; the balances of the Accounts comprising the Balance Sheet are carried forward to the next financial period only when you perform the Finalization of Accounts, i.e., by Closing your Accounts for the current period.

The Profit & Loss Account Statement is the report that shows the Company’s performance concerning the Net Profit/Loss made by the Company. This Statement includes the total Sales Revenue, Cost of Goods sold (Purchases less Closing Stock), and Income and Expenses balances. The balancing figure for the Income and Expenses is the Profit or Loss for the period for which you are taking the report.

A Trial Balance is a summarized General Ledger, displaying all the General Ledger Accounts with their Balances. It displays the total debits and credits you have entered the company and the Year-to-Date Balance, which could be either debit or credit, depending upon whichever is higher – the total debits or total credits. This is the first report you take before proceeding to other Final reports.

Chart of account summary shows an overview of the accounts in general.

The Cash Book records all the transactions passed through the cash account. This report helps observe the physical cash balances on a daily or monthly basis and for observing any cash movements (Receipts and/or Payments) during a selected period.

The Bank book contains all details regarding the selected bank account.

First, Hover over the gear (Settings) > Click on System setup > Choose the Finance tab.

Voucher numbering is possible by branch or division. A complete ERP integration is possible, and a dimensional chart of accounts could be created.

Hover over (?) for more information as highlighted in the figure above. Any element containing this icon could just hover over for more details.

Invoice numbering could either be automatic or manual.

Sales invoice numbering could be initiated in a pattern, as displayed in the figure above.

Options regarding the invoice options are available, Credit notes could be enabled, or in the case, no credit notes are accepted, just disable it.

If there is more than one discount field, enable “Other discount Field.”

If there is an e-invoice purchased, this integration is automatically activated; it depends on the modules available. The e-invoice could be more apparent in the e-invoice module.

In the case of the availability of a Point of sale where the sale occurs else here, this feature should be active; the invoice date could be set to be a static variable and automatically inputted following when the invoice was created.

Serial numbering could be set by the user.

Taxes could be withheld on the invoice, and exchange variations could be updated.

The serial for vouchers is initiated in this tab.