Accounting overview

The accounting module takes you from source data to reviewed financial statements. This guide explains how the pieces fit together.

The flow

1. Chart of accounts — set up the accounts your work uses.
2. Invoicing — record money owed to you.
3. Estimates — quote work before it happens, then convert to an invoice.
4. Bills — record supplier invoices you need to pay.
5. Expenses — record day-to-day spending.
6. Bank feeds — import statements and reconcile them against everything above.
7. Reports — Profit & Loss, Balance Sheet, Cash flow and aged receivables/payables.
8. Year-end — review, adjust and finalise the financial statements.

What each report tells you

• Profit & Loss — income minus expenses for the period.
• Balance Sheet — what you own (assets) versus what you owe (liabilities) plus equity.
• Cash flow — how cash actually moved in and out of the bank.
• Aged receivables — who owes you money and how overdue it is.
• Aged payables — what you owe suppliers and how overdue it is.

Keeping it accurate

• Reconcile your bank every month so the numbers match your statements.
• Mark invoices paid when money arrives; mark bills paid when you pay them.
• Imported trial balances feed the reports — see the year-end guide for the full flow.

Related guides

• [Chart of accounts](/guides/chart-of-accounts)
• [Creating an invoice](/guides/creating-an-invoice)
• [Bills and expenses](/guides/bills-and-expenses)
• [Reconciling your bank](/guides/reconciling-your-bank)
• [Reports](/guides/reports)
• [Year-end](/guides/year-end)