A financial year is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations.

User can define the start & end of the financial year in details section.

cost center, is a department within a business to which costs can be allocated.

A chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts as needed.

An accounting journal is a detailed account of all the financial transactions of a business. It’s also known as the book of original entry as it’s the first place where transactions are recorded. The entries in an accounting journal are used to create the general ledger which is then used to create the financial statements of a business.

User is free to add journal types according to his business.

User can add different taxes that will affect financial operations according to authority rules.

User can add different taxes types that will affect financial operations according to authority rules.

A checkbook is a folder or small book containing reprinted paper instruments issued to checking account holders and used to pay for goods or services.

User can add checkbook using identifying bank & account name.

Then, he can add the sequence no of checks.

Users can assign/change journals for system functions.

User Privileges:

1. The Journal that can be used: Admin can limit some user's activity to some journals he can identify.

2. Cashier Account: Admin can define a cashier account that the user can deal with.

3. Default Cost Center: Admin can define default cost center, it will be loaded automatically on various system screens like CC, and Transportation.

4. Cannot change default cost center: If there is a default cost center, Admin can force the user to add records to the default one.

5. Can edit cashier box account: It's based on the previous option, If Admin has defined a cashier box account, he can force the user to use it or let him modify it based on this condition.

6. must select check number from checkbook: It forces users to choose from checks records that exist in the system, not write manually.

7. Distribute advance payment from receipt voucher.

8. Can't Change Customers Account: user can't handle the field of account of the customer, the system will create it automatically.

9. Can't Change Suppliers Account: user can't handle the field of account of the supplier, the system will create it automatically.

10. Show Private Account: user couldn't review the transaction in the report for the private account, that was activated as private from the chart of accounts.

From this tab you can select:

the general accounts: cashier account, Profit & Loss Account, Purchase Discount Account Sales Discount Account.

the Checks Setting: the Receivable Notes Account ,Outstanding Checks Account ,Payable Notes Account.

the bank accounts: Bank Fees Account, Bank Vat Fees Percent Account, Bank Vat Fees Percent, Visa Account.

Contracting Accounts: Advance Payment Account, Retention Account.

Prepaid expenses are future expenses that have been paid in advance. In other words, prepaid expenses are costs that have been paid but are not yet used up or have not yet expired.

• Commercial Lease Rent.

• Indemnity and Other Insurance.

• Bulk Orders of Supplies.

• Quarterly Estimated Taxes.

• Retainer for Legal Expenses.

• Anything Paid in Advance.

PE Agreements is showing up all details regards prepaid expenses operation. It contains the parties, date, Number/value of payments.

Prepaid expense amortization is the method of accounting for the consumption of a prepaid expense over time. This allocation is represented as a prepayment in a current account on the balance sheet of the company.

A journal entry is the act of keeping or making records of any transactions either Economic or non economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit.

A voucher is an accounting document representing an internal intent to make a payment to an external entity, such as a vendor or service provider. A voucher is produced usually after receiving a vendor invoice, after the invoice is successfully matched to a purchase order.

A receipt voucher is a type of voucher which is typically issued by a certain business or an organization upon receiving payment in cash or check during a business transaction. ... Typically, a receipt voucher includes the names of goods and/or services, total amount, date, and signature of the issuer and recipient.

A debit note can be issued from a buyer to their seller to indicate or request a return of funds due to incorrect or damaged goods received, purchase cancellation, or other specified circumstances.

A credit note is issued to indicate a return of funds in the event of an invoice error, incorrect or damaged products, purchase cancellation, or otherwise specified circumstance.

Check-request is used for payments on many types of services. 

User can record all received checks and their related operations.

User can record all issued checks and their related operations.

The financial estimate is for information purposes only and is not mandatory for the applicant and aims at increasing the transparency on costs before the project starts.

A transfer is a transaction that allows you to move all related operations from one account to another account.

Lock Journal Entries is used to prevent modifications or close old records like close previous financial years records.

User can lock payments or receipts vouchers due to different circumstances.

At first, user can search for voucher based on type and date (from-to). Then, based on search results, he can click lock button for locking records.

The Close Invoice feature allows you to "freeze" selected invoices at any point after they have been created. When an invoice has been closed, you cannot make new postings to the invoice, edit transaction reference or supplemental information.

An account statement is a periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly.

A trial balance is a list of all the general ledger accounts (both revenue and capital) contained in the ledger of a business.