Getting started with Finance & Accounting

#How the module is organized

Master data (Cost Centers, Banks, Beneficiaries, Asset Categories, Balance Sheet Templates) defines the structures other records post against. Transaction documents (Bank/Cash Payment and Receipt, Cheque Payment/Receipt, Contra Deposit/Withdrawal) record actual money movement and post to the ledger once approved.

#Where to start

1. Set up Cost Centers and Banks before recording any payment.
2. Use Bank Reconciliation and Bank Statement Import & Auto-Match to keep bank balances accurate.
3. Review AP Aging and AR Aging for outstanding payables/receivables.
4. Use Budget Allocations and Budget Approvals if spending controls are enabled.
5. Balance Sheet and the Balance Sheet Templates page control how financial statements are laid out.