about this ERP - Accounts system
a short presentation about 3 sub modules and what
are the main features
It would be better if you create a demo database for you to test the system for Free on the same site erpnext.org and try the modules in action
, it is expected that you will be trained in other modules so you
can train users
international corporations
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Account
1. Chart Of Accounts.
Point of Sale Invoice.
Payments.
Introduction.
Subjects:
By: Suha Ali Baswaid.
2. Accounts:
At the end of sales and purchase cycle comes billing and payments. In all
the cases financial accounting forms the core of any business management
system like an ERP.
3. In ERPNext, your accounting operations consists of
3 main transactions:
Sales Invoice: The bills that you raise to your Customers for the products
or services you provide.
Purchase Invoice: Bills that your Suppliers give you for their products.
Journal Entries: For accounting entries, like payments,
credit.
4. The Chart of Accounts forms the blueprint of your organization.
The Chart of Accounts helps you to answer:
What is your organization worth?
How much debt have you taken?
How much profit are you making (and hence paying tax)?
How much are you selling?
What is your expense break-up?
5. An Example of various financial statement are given below:
Balance Sheet Accounts:
The Balance Sheet has Application of Funds (/assets) and
Sources of Funds (Liabilities) that signify the net-worth of your
company at any given time.
6. Profit and Loss Accounts:
Profit and Loss is the group of Income and Expense
accounts that represent your accounting transactions over a
period.
Unlike Balance sheet accounts, Profit and Loss accounts (or PL
accounts) do not represent net worth (/assets), but rather
represent the amount of money spent and collected in servicing
customers during the period.
7. For retail operations, the delivery of goods, accrual of sale and payment
all happens in one event, that is usually called the “Point of Sale” (POS).
Offline POS :In the retails business, invoicing needs to done very
quickly, hence should less dependency. In the ERPNext, you can create
POS Invoices, even when not connected to the internet.
POS Profile: In ERPNext all Sales and Purchase transactions, like
Sales Invoice, Purchase Order etc. can be edited via the POS.
Different sections of the POS:
Update Stock.
Update inventory information.
Update Payment Details.
Update writing off certain amount.
8. Removing an Item from the Cart: Select row in the cart and clik on
delete button in the numeric keypad.
Customer: In POS, user can select the existing customer during
making an order or create the new customer.
Adding an Item: In the POS interface you can select an Item by two
methods. One, is by clicking on the Item image and the other, is through
the Barcode / Serial No.
Make Payment: Payment process is divided into 3 steps:
1.Click on “Make Payment” to get the Payment window.
2.Select your “Mode of Payment”.
3.Click on “Pay” button to Save the document.
9. Offline Records: All the records from the POS stores into the
browser's local storage and sync submitted records after every
minute of the interval if system is connected to internet.
Write off Amount: User has to enter the amount under
write off field on the payment screen.
Change Amount: User can return from the cash account.
Accounting entries (GL Entry) for a Point of Sale: Debits and Credits.
Email: User can send email from the POS, after
submission of an order.
POS Closing Voucher: At the end of its shift, the cashier
can close his/her POS by creating a POS Closing Voucher.
10. Payment can be made against following transactions:
1.Sales Invoice.
2.Purchase Invoice.
3.Sales Order (Advance Payment)
4.Purchase Order (Advance Payment)
In ERPNext, there is two options through which user can capture
the payment:
1.Payment Entry(Default).
2.Journal Entry.
11. Journal Entry
Step 1: Activate Payment via Journal Entry:
Step 2: Make Payment:
Step 3: Journal Entry: