Double Entry Integrationuble Entry Integration
In the realm of accounting, precision is paramount, and Double Entry Accounting serves as the bedrock of financial accuracy. This fundamental accounting method operates on the principle of recording financial transactions in two separate accounts: a debit and a credit. With each transaction affecting both sides of the accounting equation, where assets equal liabilities plus equity, Double Entry Accounting guarantees the equilibrium of financial records. This system plays a pivotal role in preserving the integrity of financial data, enabling businesses to comprehensively track their financial well-being while adhering to stringent accounting standards.
The significance of Double Entry Accounting becomes even more apparent as it unveils a complete and balanced view of a company’s financial activities. By meticulously maintaining balance and accuracy in accounting, this approach ensures that every financial transaction is meticulously recorded in a journal account. Within the framework of the double entry system, each transaction is carefully documented with both a debit and a credit entry, meticulously upholding the fundamental accounting equation of assets equaling liabilities plus equity. In essence, Double Entry Accounting not only safeguards the precision of financial data but also empowers businesses to wield comprehensive insights into their financial health. This method simplifies financial reporting, ultimately ensuring that businesses are well-equipped to make informed and strategic decisions for sustained success.
Step 1: Super Admin Access
- To get started with Double Entry integration, ensure that your super admin has system access.
- Navigate to the “Add-On Manager” section within the super admin dashboard.
- Initiate the setup process by clicking the “+” button for “Module Setup.”
- You will be prompted to upload the required ZIP file for the “Double Entry Add-On.”
- Upon completing the setup, don’t forget to enable the module to make it available for others to utilize.
Step 2: Company Login Access
- After enabling the Double Entry Add-On by the super admin, company admins can proceed with the configuration.
- Begin by visiting the “Subscription Plan” page and selecting the appropriate “Usage Plan.”
Step 3: How to use the Double Entry Add-on
- After purchasing the Double Entry add-on, find it out in the menu.
- There you will get to see 5 pages Journal Account, Ledger Summary, Balance Sheet, Profit and loss, Trial Balance, and Report.
- On the Journal Account Page, you can create the journals by adding all the details asked on that page, you can also edit them whenever you want.
- On the ledger summary page, you can see the history of all the ledgers and you can also download them.
- On the balance sheet page, you can see the balance sheet of your account and you can also print it whenever you want.
- Similarly, you can see the trial balance on the trial balance page and also print it.
- At last, you can also view the sales report, and print them whenever you want.
So, this is how you can have access to the double entry module.
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