Accounting double entry Module

Introduction

Double entry accounting is a fundamental concept of modern book-keeping and accounting. Double entry accounting states the fact that every financial transaction has equal and opposite impact in more than one accounts. Tactic helps in managing double entry accounting as well. Accounting double entry module provides the users with an advanced accounting features. It helps in editing a ledger efficiently as well. The primary features of double entry accounting module are, Grouping transaction in journals, Export from a different software format, Double entry accounting.

Installation

There is no need of installing this module, as it is already included within Tactic services.

Setup

For using this module the users need to enable it by using an administrator account. The menu options for activating this module are: Home –> Setup –> Module. The users then need to click on Activate. The modules will be activated after completing this step. The settings icon File:Cog.png will be visible at the end of the module box, the users can click in that to access setup.

Accounting accounts

Setting up charts of accounts is important to make tactic use them in different accounting procedures. The users can create different accounting accounts based on their preferences.

Journals

There are a number of journals already added to Tactic. However, the users can add their custom journals for bank accounts, equity insert, equity take out, and taxes.

Vat account

The users can easily set-up applicable vat rates based on their nation

Tax account

Tax accounts can be created to pay organisation tax as well.