🔧Settings
The Accounting settings are accessed via Settings → Accounting (from the Accounting dropdown in the Settings menu). These settings control default behaviors, account mappings, numbering formats, automation rules, and reference data used throughout the module.
General Settings
The General section contains high-level configuration options for the accounting module, including the fiscal year start date and default currency. These settings affect how reports are generated and how date ranges are calculated for period-based features like budgets.
Default Accounts
Default Accounts define which Chart of Accounts entries are used automatically when transactions are created. This eliminates the need to manually select accounts for routine operations.
Core Default Accounts
Accounts Receivable — Credited when invoices are created; debited when payments are received.
Accounts Payable — Debited when vendor bills are created; credited when bills are paid.
Sales Revenue — Credited when revenue is recognized from invoices.
Cash/Bank Account — The default bank account debited for incoming payments and credited for outgoing payments.
Tax Payable — Credited when tax is collected on invoices.
Tax Receivable — Debited when tax is paid on vendor bills or expenses.
Asset Default Accounts
These accounts are used by the fixed asset management features:
Asset Account — Debited when an asset is purchased.
Accumulated Depreciation — Credited as depreciation is recorded over time.
Depreciation Expense — Debited when depreciation is recorded each period.
Gain on Asset Disposal — Credited when an asset is sold for more than its book value.
Loss on Asset Disposal — Debited when an asset is sold for less than its book value.
Number Prefixes
Number Prefixes define the format for auto-generated reference numbers across different transaction types:
Expense Prefix — Applied to expense numbers (e.g., "EXP-").
Vendor Bill Prefix — Applied to vendor bill numbers (e.g., "BILL-").
Payment Prefix — Applied to payment numbers (e.g., "PAY-").
Journal Entry Prefix — Applied to journal entry numbers (e.g., "JE-").
Each prefix is combined with an auto-incrementing number to produce unique identifiers like "EXP-00001."
Automation Settings
Automation toggles control whether the system automatically creates journal entries for various transaction types. Each toggle can be enabled or disabled independently:
Auto-create journal entries for expenses — When enabled, recording an expense automatically generates the corresponding debit/credit journal entry.
Auto-create journal entries for vendor bills — Automatically journals vendor bill creation and payment events.
Auto-create journal entries for payments — Automatically journals incoming payment transactions.
Auto-create journal entries for invoices — Automatically journals invoice creation.
Auto-create journal entries for assets — Automatically journals asset purchases, depreciation, and disposals.
Auto-create journal entries for recurring transactions — Automatically journals entries generated by recurring transaction schedules.
When a toggle is disabled, the corresponding transactions are still recorded but no journal entries are generated — you would need to track those entries through another method.
Account Types
Account Types categorize the accounts in your Chart of Accounts. The system includes five built-in types: Assets, Liabilities, Equity, Income, and Expenses. Each account in the Chart of Accounts must be assigned to one of these types, which determines how it appears in financial reports (e.g., Assets and Liabilities on the Balance Sheet; Income and Expenses on the Profit & Loss statement).
Account types can be managed here if you need to add custom types or modify the existing ones.
Expense Categories
Expense Categories are labels used to classify expenses for reporting and filtering. Default categories include: Office Supplies, Travel & Transportation, Marketing, Utilities, Software & Subscriptions, Insurance, Rent, Professional Services, Meals & Entertainment, and Maintenance.
Each category is mapped to a Chart of Accounts entry, so when an expense is created under a particular category, the system knows which account to debit. You can add, edit, or delete categories as needed to match your organization's cost structure.
Tax Rates
Tax Rates define the tax percentages applied to invoices, vendor bills, and expenses. The system comes with three defaults: VAT 15%, Sales Tax 8%, and No Tax (0%). Each tax rate entry includes a name, percentage, and description.
You can add new tax rates for different jurisdictions or tax types, edit existing rates, or deactivate rates that are no longer applicable.
Recommended Setup Order
When configuring the Accounting module for the first time, it's best to follow this sequence:
General Settings — Set your fiscal year and currency.
Account Types — Review and confirm the default types.
Chart of Accounts — Add any accounts specific to your business.
Default Accounts — Map each default to the appropriate account.
Tax Rates — Configure rates for your tax jurisdiction.
Expense Categories — Customize categories and link them to accounts.
Number Prefixes — Set your preferred numbering format.
Automation — Enable the journal entry automations you need.
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