To go to Accounting & Finance module, go to modules ----> Finance & Accounting Module as shown in the figure below.


Once the user is inside the module, The user can start by creating an account.


While creating the account, The user has to fill in the below information:

  1. Account Name
  2. Account Id
  3. Financial Start Year
  4. Financial End Year
  5. Company/Personal name
  6. Address
  7. Email

Once all the information is filled, click on submit to create the account as per the Account Name.


After the account has been created, Open the account to activate the account.
A Snapshot of the account dashboard is shown below.

Click on the Accounts section to add  groups and/or Ledgers.
The user can create a Ledger under the group name that is already established or the user can create a new group and add the ledger to that group.
While creating a new group, The user has to make sure that the new group is associated with a parent group.
An example of a new group creation associated with current assets as it's parent group is shown below. Click on Submit after creating the group.

Once the group has been created the user can see the created group under the particular parent group. In this example, Test_1 is created under the Assets group.

Once the group has been created the user can create a Ledger under the group.
The ledger can have an opening balance or zero opening balance as per the requirement.
The ledger account can be a bank/cash account or/and Reconcillation.

*Always remember:
Assets & Expenses will always have a Debit Entry and Balance & Liabilities will have a credit account.


click on the submit button to create the Ledger.

After the ledger has been created, Chart of Accounts will have the ledger and the Opening/Closing Balance. The user can edit the details by clicking on the edit option.


Since this is a double entry system, Everything has to be balanced otherwise the difference in opening balance message is shown.

Adding Entries to the Ledgers:

List of entries supported in Classe365.

  1. Receipt -  The Receipt entry is useful when the cash is received through bank or cash account.
  2. Payment - The payment entry whenever the user makes the payment to the bank or cash account.
  3. Contra - Contra payment is useful only when there is a transaction from bank to Cash account.
  4. Journal - Journal entries are useful when transferring from one ledger to another ledger.


The user can start adding the entries by balancing the debit/credit.

If the debit and credit do not match, then you will see a warning on top of the page which indicates a mismatch of debit & credit. An example is shown below.

Once the Debit/Credit matches, then the entry is created in the list of entries as shown below.

The entries can be viewed, edited, deleted, Emailed, Downloaded and Printed.


Reports:
Our Accounting & Finance module has a exhaustive report section.
The report Section consists of:

  1. Balance Sheet
  2. Profit & Loss
  3. Trial Balance
  4. Ledger Statement
  5. Reconcillation 
  1. Balance Sheet :

The snapshot below shows the balance sheet Test_2_ledger and Test_3_ledger

2. Profit & Loss Statement:

The Profit & Loss statement gives the summary of revenue, cost and expense occurred during the year.

3. Trial Balance:
    The trial balance report shows all the debit/credit statements with any disagreement indicating a mismatch.

4. Reconciliation Statement.
The Ledger account is selected for reconciliation then the report can be extracted otherwise the reconciliation statement cannot be extracted.

Once the Ledger account is selected, click on the submit button to view the reconciliation report.


Settings:
The different settings avaialble in Classe365 are:

  1. Account Settings

Here the user can make changes to the account which includes the financial year start and financial year end, Company name, address name and the email address.

     2. Printer Settings
Printer settings allows the user to make changes to the paper size and paper margin which then can be used to print entries, reports etc.

    3. Tags
Tags are useful to highlight entries. The user can change the color and the background as per their discretion.

 

These tags can be edited at any point of time.

Tags can be added to the entries and they are highlighted as per the color and background of choice.

     4. Entry Types
The user can make changes to the entry types.
The user can add label, Name, Description, Prefix, Suffix & Zero padding.
There are action items of Edit/Delete as well.

   5. Lock account

The user can lock the account to prevent any further changes to the system.



Once the account is locked, The user cannot make any changes to the account.


If you have any problems with Classe365, please contact us at support@classe365.com

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