Accounting Manual
FinvHub is built on proper double-entry accounting — but you rarely touch a journal directly. Everyday actions post the correct entries for you, so your books stay balanced and your statements stay live. This manual explains what's happening and how to work with it.
1. How the ledger works
Every transaction creates a balanced journal — total debits equal total credits. A customer payment, a supplier bill, a pay run: each posts automatically. You see the results in your General Ledger, Trial Balance and financial statements without any manual bookkeeping.
2. Chart of accounts
Under Accounting → Chart of Accounts, you'll find accounts grouped by type — assets, liabilities, equity, income and expenses. A standard chart is pre-loaded; add, rename or deactivate accounts to fit your business. Cost centres let you tag transactions by department or project.
3. Sales & purchases
- Invoicing (AR): raise quotes and invoices, send them, and record payments. Each posts to receivables and income, and reminders chase overdue amounts.
- Bills & expenses (AP): record supplier bills, expenses and purchase orders. Payments require approval, and withholding tax is handled with certificates.
4. Manual journals
For adjustments, post a Manual Journal: add line rows with accounts, debits and credits. FinvHub shows a live balance indicator — you can't post an unbalanced entry. Posted journals are immutable; to correct one you post a reversal and a new entry, preserving a clean audit trail.
5. Reconciliation
Under Reconciliation, import a bank statement and match lines against your ledger. A built-in watchdog flags anything out of balance or any subledger/control mismatch, so problems surface early.
6. Reading your statements
- Profit & Loss — income minus expenses over a period, with comparatives.
- Balance Sheet — assets, liabilities and equity as at a date (always assets = liabilities + equity).
- Trial Balance — every account's debit/credit totals; the foundation the statements are built on.
- Consolidated — for groups, roll multiple companies together with intercompany eliminations.
7. Period close & controls
Lock a period with Transaction Locking to prevent back-dated edits once you've closed the books, and use the Audit Trail to see who changed what. Approvals (maker ≠ checker) keep control over postings and payments.