Accounting

The accounting page

boornoo.com/dashboard/accounting

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Point by point

Tap a number to see what it is.Point at a number, or scroll the list.

1. 1Chart of Accounts and Financial PeriodsYour accounts (assets, liabilities, income, expenses) and financial years or months.
2. 2JournalsThe debit and credit of every transaction.
3. 3ReportsTrial balance, income statement, balance sheet, general ledger.
4. 4SettingsWhich account each kind of transaction uses.

1. 1Create your accounts with New account — cash in hand, bank, fees receivable (assets); student advances (liability); tuition fee income (income).
2. 2Open a financial year under Financial Periods (1 January–31 December, say). Nothing is posted without an open period.
3. 3Under Settings, map each kind of transaction to an account — cash, bank, fees receivable, fee income, advances and so on.

• From then on you don't type anything twice — invoices, payments, refunds and wallet movements are all posted to the journal automatically.
• Every journal's total debit equals its total credit.
• Mistakes aren't deleted — a reversing journal cancels them, so the history stays.
• Close a period at month end; nothing more can be posted into it.