6 docs tagged with "accounting"

You can generate the following accounting reports in Lenda.

It is important for all organizations to be able to close their cash accounts periodically. This is done primarily to ensure that no new transactions are logged into closed periods, which could affect the previous balances.

The chart of accounts, or COA, is a list of all your company’s accounts, together in one place, that is a part of your business's general ledger. It provides you with a birds eye view of every area of your business that spends or makes money. The main account types include Income, Expenses, Assets, Liabilities, and Equity.

In the Lenda system, general ledger account creation is done both automatically and manually. On this page, we will list the general ledger accounts that are created automatically. For more on manual general ledger creation, see Creating Charts of Accounts.

An inter-branch account is a general ledger account that helps to ensure that the balance sheet at the branch level remains balanced. For example, if a client who has a loan at another branch decides to pay at another branch, this transaction involves accounts that are maintained in another branch. To maintain the integrity of the balance sheet, an inter-branch general ledger will be involved.

Journal entries are the records of transactions in your organization books. In double-entry bookkeeping, you make at least two journal entries for every transaction.