Accounting System

An accounting systemClosedThe system used to manage the income, expenses, and other financial activities of a business. represents the system used for collecting and organizing the financial data. For each legal entity there is a corresponding system. An entity can have more accounting systems.

Creating Accounting Systems

1. Log into the FintechOS Portal.

2. In the main menu, expand General Ledger Configurations and select Accounting System. The Accounting Systems List page opens.

3. At the top-right corner of the page, click the Insert button to create an accounting system.

4. Fill in the following fields:

Field Required Type Description
Code No Text It is the code of the accounting system.
Name No Text It is the official name of the accounting system.
Accounting Reference Currency No Option set It contains every currency possible with its code and symbol. Choose the currency for this specific system.
 

5. Click Save and reload. The Accounting Chart section is displayed.

Accounting Chart

This section stores data regarding the accounts.

1. To add a new transaction item accounting configuration, click the Insert button under the Accounting Chart section. The Accounting Chart page opens.

2. Fill in the following fields:

Field RequiredTypeDescription
Accounting System NoLookupThe accounting system of the chartClosedAn index of all the financial accounts in the general ledger of a company. .
Account codeNoTextThe code of the account.
reportingCodeNoTextThe code of the reporting.
TypeNoOption set

The type of the account. The following options are available:

  • [none]

  • Assets

  • Expenses

  • Revenues

  • Liabilities

  • Others.

Balance TypeNoOption set The balance type of the account. The following options are available:
  • BalanceSheet
  • P&L
  • OffBalanceSheet
Reporting Group NameNoTextThe name of the reporting group.
Name NoTextThe name of the account.
 

2. Click Save and close.

HINT  
Users can add, delete, or export accounting charts.