Introduction and Setting Up
Accounting Entries
Accounting entries are key sources of information used to prepare, verify and/or audit your financial statements.
Chart of Accounts
Chart of Accounts is a tree view of Accounts and Ledgers that is required to manage your books of accounts.
Account Dimensions
Dimensional accounting allows you to separately maintain multiple segments like Branch, Business Unit, etc.
Journal Entry
Journal Entry
A standard accounting transaction that affects multiple Accounts and the sum of debits is equal to the sum of credits.
Journal Entry Template
Journal Entry Templates let you set and select a predetermined list of accounts and options while making a Journal Entry.
Payment Entry
Accounting entries that can be made against invoices, sales and purchase orders, expense claims, etc.
Dunning
A document to send for persistent demand debt payment.
Payment Request
A Payment Request is used to request payment for an order or an invoice.
Advance Payment Entry
Payment done by the customer before accepting delivery of the product is an Advance Payment.
Billing and Pricing
Sales Invoice
A Sales Invoice is a bill that you send to your customers, On submission receivables are updated and income is booked.
Purchase Invoice
It is the bill that your Supplier sends you for products or services delivered. Here you accrue expenses to your Supplier
Point Of Sales
For retail operations, the delivery of goods, accrual of sale and payment all happens in one event, Point of Sale (POS).
Credit Note
A credit note is a document sent to the customer, notifying that a credit has been made to their account against the goods returned.
Debit Note
A debit note is a document sent by a buyer to a seller which notifies that a debit has been made to their accounts.
Pricing Rule
Pricing Rule is a master where you can define rules based on which discount is applied to specific Customer or Supplier.
Tools
Bank Reconciliation
This explains the difference on a specified date between the bank balance shown in an organization’s bank statement,
Payment Reconciliation
Helps confirms whether the money leaving an account matches the amount that’s been spent, and ensures the two are balanced at the end of the recording period
Accounting Reports
Sowaan ERP Accounting module has multiple built in reports like Profit and Loss, Balance Sheet, etc.
Process Statement Of Accounts
This tool lets you send automated periodic Statement Of Accounts to customers in bulk.
Advanced Accounting
Multi Currency Accounting
You can make accounting entries in multiple currencies, you can have a bank account in foreign currency and make transactions in that currency.
Deferred Revenue
It is the advance payments a company receives for products or services that are to be delivered or performed in the future.
Subscription
For services sold which requires renewal in the certain time period, Subscription feature auto-creates Sales Invoices for your customers.
Invoice Discounting
Invoice discounting is the practice of using a company’s unpaid sales invoices as collateral for a short term loan, which is issued by a bank or a finance company.
Shareholder
Sowaan ERP allows you to keep a track of all your Shareholders and maintain Share Transfers, Share Ledger and Share Balances.