Getting Started with Accounting

Accounting is the scorecard of business. If you don’t keep score, you don’t know if you’re winning.

The Accounting app in Sevenledger is designed to be rigorous enough for your auditor but simple enough for you to use every day. It handles everything from VAT compliance to profit tracking without burying you in spreadsheets.

Follow this guide to configure your financial engine.

Setting Up Your Books

1. Define Financial Rules (Configuration)

Before you send an invoice, you need to tell the system how you do business.

Navigate to Accounting > Configuration > General Setting.
Tax Rates: Ensure “VAT (13%)” is set up and Active. This allows the system to auto-calculate tax on every sale.
Payment Terms: Define your standard credit periods (e.g., NET30, NET15). This ensures your “Due Dates” are calculated automatically.
Payment Modes: List the ways you accept money (Cash, Wallet, Bank Transfer) so your cashiers have the right options at checkout.

2. Standardize Your Documents

Save time by setting defaults for your legal fine print.

Navigate to Invoice Setting or Sales Order Setting.
Terms & Conditions: Enter your standard legal text here (e.g., “Goods once sold cannot be returned”). This will auto-populate on every new document, saving you from typing it manually every time.

3. Customize Your Data (Optional)

Do you need to track data that isn’t standard?

Use the Custom Fields section in any module (e.g., Bill Setting) to add unique fields.
Example: Add a “Quality Check Passed?” checkbox to your Vendor Bills to ensure inventory is inspected before payment is approved.

4. Record Your First Transactions

Now you are ready to operate.

Sell: Create a Sales Order or Invoice to record revenue.
Buy: Create a Bill to record what you owe suppliers.
Pay: Record Payments Received or Payments Made to settle those debts.

5. Review Your Health

After recording a few transactions, check the Reports section to see the results.

Profit & Loss: Check your “Net Profit/Loss” to see if you are making money after expenses.
Balance Sheet: Check your “Assets” vs “Liabilities” to understand your financial position.

Sevenledger Tip: Don’t wait until tax season to look at your Profit & Loss. Review it weekly. If your “Operating Expenses” are eating up your “Gross Profit,” you need to know immediately, not next year!

Next Steps

Now that your accounting structure is live, dive deeper into specific workflows.

Learn how to convert Estimates to Invoices and track Accounts Receivable.Managing Sales Track vendor bills, manage purchase orders, and control costs.Managing Purchases Track vendor bills, manage purchase orders, and control costs.Managing Expenses Track vendor bills, manage purchase orders, and control costs.General Ledger Master the 'Big Three' reports: P&L, Balance Sheet, and Trial Balance.Financial Reports