Start - Create the first fiscal year and opening balance

Accounting is a fundamental part of the good management of any organization, however it lacks some basic knowledge for its correct use.

This guide is intended to be of assistance for first-time users of this module.

1. Open exercise #

If you do not use the accounting module yet, it is likely that when you access the fiscal years you will have the year 2017, you should edit and change the year to 2018 (or the year you want):

It is on the exercise screen that you can find the Accounts Presentation report, which you must submit annually to the Diocese.

2. Configure the required accounts #

Initially we only have the base accounts, which are needed for the Account Presentation report, you should create and customize the chart of accounts according to your needs. As an example, let's create the Banco BCP account and the cash account a.

Create the Cashier Account

Create the cash sub-account a (we can have multiple cash accounts)

Create Bank Account

Create the Banco BCP sub-account (we can have accounts in several banks)

Create water bill

Create telecommunications account

Create account for mass stipends

Create the Net Profits account for the period

And now, create the Net Income sub-account, which serves to post the amount carried over from the previous period, and we will use it to make the opening posting.

3. Configure the necessary journals #

The diaries are used to classify expenses according to their type. For example, we can have a purchase journal for all purchasing documents, sales journal for all sales documents, opening journal for year opening, ….

Let's create the diaries: Purchases, Sales and Opening:

4. Configure the Required Document Types #

The types of documents are all documents that we introduce into the system, such as Debt Notes, Donations, Cash Purchase, Credit Purchase, Advance, Opening, …

Let's create the document typologies: Debt Notes, Donations, Cash Purchase, Credit Purchase and Opening

5. Configure cost centers #

We can define our cost centers, for example, if the Parish has 2 churches, it's 2 cost centers. Let's create the cost centers with the locations of the Parish, in this case Igreja do Centro and Igreja da Ponte:

6. Post the opening balance #

When we start a new year (financial year) there are balances that go from the previous year to this year, we must launch the opening balance to get a sense of how the Parish accounts are at the moment. We will enter the opening balance of the cash and bank account against the net income account (the amount left over from the previous period). We are assuming that on the cash account we have an opening balance of €500 and on the bank €1500:

7. Post a water bill and a communications account #

8. Launch a Mass Intent #

9. Consult the Analytical Balance Sheet #

10. Consult the Bank Account Statement #

Accounting auxiliary notes: #

Basic Rules for Accounting Entries   #

Net SituationDecreasesIncreases

Active – It consists of the company's assets and debts owed by third parties to the company. (customers)

Passive – It consists of the company's debts to third parties. (suppliers, banks and state)

Net Situation – Share Capital, Reserves and Results

Costs – Costs with personnel, external supplies and services, raw materials, goods, etc. (Class 6).

income – Sales of products and services (class 7).

The 3rd – Customers, suppliers, banks and state.

 Some Basic Release Examples #

electricity cost #
62211 - Electricity
24323 - Deductible VAT OBS
12/11/221 - Cashier, DO or Suppliers
Payment to a Supplier #
221 - Supplier
12/11 - Cash or DO
Receiving a Customer #
12/11 - Cash or DO
211 – Customer
Purchase of goods #
312 - Purchase of Goods
24321 - VAT Deductible Stocks
12/11/221 - Cashier, DO or Suppliers
Entry of Goods into Warehouse (SIP)
32 – Stocks
312 - Purchase of Goods
sale of goods #
711 - Sale of Goods
2433 - VAT Settled
12/11/211 - Cashier, DO or Customers
Cost/Output of Goods from the Warehouse
611 - Sale of Goods
32 – Stocks
Buying a Computer #
426 - Administrative Equipment
24322 - Tax Deductible Fixed Assets
12/11/221 - Cashier, DO or Suppliers