Accounting
Chart of accounts, journal entries, accounting periods, financial reports, and UAE/Pakistan tax compliance.
How accounting works#
The accounting module is a double-entry ledger. Invoices and payments post to it automatically, and you can add manual journal entries for everything else. Reports and tax returns are generated from the same ledger, so there is one source of truth.
Chart of accounts#
The chart of accounts lists every account the ledger can post to — assets, liabilities, equity, revenue, and expenses. New workspaces start with a sensible default chart that you can extend or rename to match your reporting needs.
- Each account has a code and type; codes keep reports ordered.
- Deactivate accounts you no longer use instead of deleting them — history stays intact.
Journal entries#
A journal entry records a balanced set of debits and credits on a date within an open period. Entries created by invoicing are posted automatically; manual entries cover payroll, adjustments, accruals, and anything else.
- Debits must equal credits — the form validates the balance before posting.
- Every entry gets a sequential entry number for the audit trail.
- Recurring journal templates can generate scheduled entries (for example monthly rent).
Accounting periods#
Periods (usually months) control when the ledger accepts new entries. An entry can only post to an open period. Locking a period finalizes it — nothing can be added or changed, which protects completed reporting.
Tip: Lock periods after your monthly close. If something must change later, post a correcting entry in the current open period instead of reopening history.
Financial reports#
| Report | What it answers |
|---|---|
| Profit & Loss | How much did we earn and spend over a date range? |
| Balance sheet | What do we own and owe at a point in time? |
| Trial balance | Do all account balances reconcile — debits equal credits? |
Budgets (plan vs actual) and bank reconciliation are available on plans that include them. Reconciliation imports bank CSV lines and matches them against unmatched ledger entries.
Tax compliance (UAE & Pakistan)#
The compliance area adapts to your jurisdiction, set in company settings.
| Jurisdiction | What you get |
|---|---|
| UAE (FTA) | VAT dashboard, VAT return preparation (Form 201), and tax audit file export on eligible plans. |
| Pakistan (FBR) | Sales tax dashboard and sales tax return exports, plus withholding tax handling. |
Note: VAT figures come from the same ledger as your reports — issue invoices and record expenses correctly and the returns build themselves.