Manage Accounts with A3Sola

Whether you're a small business owner or a large corporation, A3sola's financial accounting process is the perfect solution to streamline your accounting operations and manage your finances with ease. With features like Sales Invoice, Purchase Invoice, and Journal Entries, you can easily track all of your financial transactions and make informed business decisions. Don't let your finances get out of control - trust A3sola to handle all of your accounting needs.

Manage Your Accounts with A3Sola

Accounting module

The Accounting module in A3Solais a powerful tool for managing financial transactions and record keeping. With various account settings to restrict and configure actions, it offers a wide range of options for managing investments, assets, income, and expenses. For example, if Mama invested Rs. 25,000 in a company, this transaction would be recorded as a liability for Mama and a credit in their account, while the company's cash balance would be increased and recorded as an asset. The Accounting module also offers advanced features such as overbilling allowances, unlink payments on cancellation of invoices, enable common party accounting, and book asset depreciation entry automatically. Additionally, there are Tax settings that enable automatic adding of taxes and charges from item tax templates, Deferred accounting Settings and Print settings. All of these settings provide flexibility and functionality in managing financial transactions and record keeping, making it easy to keep track of investments, assets, income,and expenses. Overall, the Accounting module in A3sola is a must-have tool for any business looking to streamline their financial record keeping and manage their finances with ease.

Chart of Accounts

The Chart of Accounts is a vital component of financial accounting and serves as a blueprint for the accounts in an organization. It follows the standard double-entry accounting system and includes Ledgers and Groups that allow for proper management of financial records.In A3sola, a simple chart of accounts is set up for each company, but it can be modified to meet specific needs and legal requirements. The Chart of Accounts plays a key role in classifying accounting entries and ensuring compliance with government regulations and tax la

Setting up a Bank & Bank account

Setting up a Bank & Bank account is vital since it is a financial institution that allows individuals and businesses to deposit and withdraw money, as well as perform other financial transactions. In A3sola, bank transactions can be mapped to the ledger for reference and reporting purposes. A bank account is a specific account within a bank that is used to record and track financial transactions. In A3sola, bank accounts can be created for companies, customers, and suppliers to ensure accurate accounting records.

Fiscal Year

A Fiscal Year and Accounting Period are essential elements of financial management. A Fiscal Year is a designated period of time, which may differ from the calendar year, used for recording and reporting financial transactions and predicting income and adjusting expenses to maintain desired profit margins. On the other hand, the Accounting Period is a specific time frame within the Fiscal Year in which financial statements are recorded and transactions such as sales, purchases, stock entries, payroll entries, and journal entries are allowed to be created.By limiting the time period in which transactions can be submitted, the Accounting Period helps preserve the accuracy and integrity of financial reports and ensures compliance during audits or when closing the accounting books for the financial year.

Journal Entry

A Journal Entry is an entry made in the general ledger and it indicates the affected accounts. A Journal Entry is a multi purpose transaction where the debit and credit accounts can be selected. All types of accounting entries other than Sales and Purchase transactions are made using the Journal Entry. A Journal Entry is a standard accounting transaction that affects multiple Accounts and the sum of debits is equal to the sum of credits. A Journal Entry Impacts the main ledger.Journal Entries can be used for entering expenses, opening entries, contra entries, bank payments, excise entries,etc. For example, booking running expenses, direct expenses like petrol/transport, sundry expenses, adjustment entries, and adjusting invoice amount.

Sales Invoice and Purchase Invoice

Sales Invoices and Purchase Invoices are both important accounting transactions that are used to record financial transactions.A Sales Invoice is a bill that is sent to customers and is used to update the receivable and book income against a customer account. A Purchase Invoice, on the other hand, is a bill received from suppliers, against which payment needs to be made. It is used to accrue expenses to the supplier's account, and the process of creating a Purchase Invoice is similar to creating a Purchase Order. Both are essential for accurate financial reporting and budgeting.

Payment Terms Status Report

Payment Terms Status Report to calculate status of Payment Terms based on the invoices created against that Sales Order. Invoice amount is split into the respective payment terms at runtime using FIFO method.

Tax Rule

A Tax Rule automatically applies taxes to transactions based on preset rules. You can define which Tax Template must be applied on a Sales / Purchase transaction using the Tax Rule. This is decided by various factors like Customer, Customer Group, Supplier, Supplier Group, Item, Item Group or a combination of these.

Pricing Rule

A Pricing Rule defines the discount/pricing rules that apply based on set conditions. A Pricing Rule has many options using which you can control the pricing of an Item. Filters like quantity, date, groups, and other conditions can be set.A Pricing Rule is somewhat similar to a Tax Rule. In A3sola Pricing Rule created with Subsidy percentage/Subsidy Amount when items(Product bundle) are added against each scheme.

Currency Exchange

The Currency Exchange form in A3sola stores exchange rates manually stored by the User. By default, A3sola automatically fetched the current exchange rates for currencies as per the market. However, you can store fixed exchange rates and use them. You need to enable 'Allow Stale Exchange Rates' in Accounts Settings for using the exchange rates stored in the Currency Exchange form. In A3sola, the Currency list stores the currency value, it's a symbol and fraction unit. Most of the commonly used currencies are already present in A3sola. The exchange rates are fetched automatically according to the current market rate. You can also configure the system to use older fixed exchange rates by creating them in the Currency Exchange form.

POS profile

In A3sola, a POS profile allows using the Point of Sale feature. POS includes advanced features to cater to different functionality, such as inventory management, CRM, financials, warehousing, etc., all built into the POS software. Before modern POS, all of these functions were done independently and required the manual re-keying of information, which could lead to entry errors. If you are in retail operations, you want your Point of Sale to be as quick and efficient as possible. To do this, you can create a POS Profile for a user.

Payment Reconciliation

Payment Reconciliation is used to link payments with invoices. In complex scenarios, especially in the capital goods industry, sometimes there is no direct link between payments and invoices. For example, suppose a party is a customer, you send invoices to a customer and the customer sends you block payments or payments based on some schedule that is not linked to your invoices.

Budgeting

Budgeting is a financial plan that helps control Company expenses. In A3sola, you can set and manage budgets against a Cost Center or a Project. This is useful in controlling your expenses. For example, if you are doing online sales, you can set a budget for search advertisements and configure A3sola to stop or warn you from overspending beyond a set budget.Budgets are also great for planning purposes. When you are making plans for the next Financial Year, you would typically target a revenue based on which you would set your expenses. Setting a budget will ensure that your expenses do not get out of hand at any point.