How to use Accounting on Posibolt

Accounting

What is Accounting?

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.

How do I manage a Trial Balance on Posibolt?

A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Trial Balance and click it.

  3. Select all the filters to generate the Trial balance, and click Search 


PLEASE NOTE: Some of these sections are not available on your Posibolt software due to set up or requests made before implementation.


Image of the Trial Balance Screen



How do I check Payment History on Posibolt?

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Payment History and click it.

  3. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).



How do I generate a General ledger report report on Posibolt?

General Ledger refers to the main accounting record of a company or organization.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate General Ledger report  and click it.

  3. Select all the filters to generate the General Ledger report, and click Search 

  4. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).




How do I generate a detailed General Ledger report on Posibolt?


  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate detailed General Ledger  and click it.

  3. Select all the filters to generate the detailed General Ledger, and click Search 

  4. When you click search a new pop up will appear




How do i generate an Item Ledger on Posibolt?

This is like the general ledger but is set to be an item/product specific ledger and not all items/products are shown here, the rest are not inclusive of this ledger

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Item Ledger and click it.

  3. Select all the filters to generate the Item Ledger, and click Search (You can include sales price as an optional selection).

  4. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).




How do i generate an Open Balance report on Posibolt?

Open Balance report is a report that shows opening balances of vendors/customers and also a closing balance

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Open Balance report and click it.

  3. Select all the filters to generate the Open Balance report, and click Search.

  4. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).




How do i generate an Detailed Tax Report (Audit)  on Posibolt?

Tax Reporting calculates your company's global tax provision, effective tax rate, and deferred tax for tax provisioning purposes

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Detailed Tax Report (Audit) and click it.

  3. Select all the filters to generate the Detailed Tax Report (Audit), and click Search.

  4. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).




How do i generate an Financial Report on Posibolt?

Financial report refers to records of the financial activities and position of a business, person, or other entity. Historical financial statements. Relevant financial information is presented in a structured manner and in a form which is easy to understand.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Financial Report and click it.

  3. Select all the filters to generate the Financial Report,  here you can check and select a balance sheet or a profit/loss report and click Financial Report.

  4. You can export the report by clicking one of the 3 file formats at the bottom of the table on the lower right side (pdf).




How do i generate a Login in Posibolt?


Login report shows which users have logged in/signed in and which ones have signed out/logged off 

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Day Book and click it.

  3. Select all the filters you need to generate the Day Book, and click Search.

  4. You can export the report by clicking one of the 2 file formats at the bottom of the search button (CSV and PDF).




How do i generate an expense and/or charges report in Posibolt?

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Reports, under the reports sub-menu  locate Expense or Charges Report and click it.

  3. Select all the filters to generate the Expense or Charges Report, here you can check and select a balance sheet or a profit/loss report and click Expense or Charges Report.

  4. You can export the report by clicking one of the file formats at the bottom of the table on the lower right side (pdf, email, csv etc.).




How do i generate a Cash/Bank transfer in Posibolt?

Cash/Bank Transfer is a report that shows All transfer from within an organisation(s), consisting of closed tills etc.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Entries, under the reports sub-menu  locate Cash/Bank Transfers and click it.

  3. Select all the entries you want to process the Cash/Bank Transfers, here you can choose which bank you want to transfer from and which bank to, enter an amount and a description.

  4. The End Balance, Account and start amounts are listed on the right side. Advice these icons there is an add line "+" for adding an extra column for another transfer if you want to process multiple transfers.

  5. You can export the report by clicking one of the file formats at the bottom of the table on the lower right side (pdf, email, csv etc.).

  6. When you are complete you can proceed to click submit to complete the transaction.


DID YOU KNOW?

You can load or import a Bank Statement on Posibolt, by clicking Accounting, then under entries locate bank statement and click it, a new page will appear and you enter the dates and other fields/filters and then lastly click load receipts or load bank statement. More on Bank statement


Hints for entries under accounting on Posibolt:


  • Customer : Select the Customer to whom you are going to create a credit note

  • Amount : Field to enter the credit amount

  • Desc : Additional information

  • Allocate to Invoice : You can choose the customer open invoice from the drop down that you wish to allocate with credit note if any.

  • Document No : Enter the document number if applicable

  • Charge : To track the entry. Also, its account posting will be to the selected charge account.

  • Date Accounting : Can be entered with back date too.

  • Currency : Can choose the currency from the dropdown menu if the customer is configured with foriegn currency.



How do i generate a Customer Journal and/or Vendor Journal in Posibolt?

Prerequisite: Existing Customer or Vendor on Posibolt created from the Administration menu.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Entries, under the reports sub-menu  locate Customer Journal and/or Vendor and click it.

  3. Select all the entries you want (their debit or credit selection ca be selected for the journal) but most importantly on there right side of the screen there is a Customer or Vendor name entry and you select the specific one to include the Customer Journal and/or Vendor Journal.

  4. Click Complete to finish the Journal entry for either the credit or the debit of the Vendor or the Customer.




How do i generate a Debit Note and/or Credit note in Posibolt?

For a Credit note you enter a Customer's name and for a Debit Note you enter a Vendor's Name

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Entries, under the reports sub-menu  locate Credit Note Or Debit Note and click it.

  3. Enter all the details you need for their respective fields and then click complete to issue the note and assign/give it to the Vendor or Customer.

  4. Click Complete to finish the note entry for either the credit note or the debit note of the Vendor or the Customer.




The GL journal window allows you to enter and modify manual journal entries.

  1. Log in to Posibolt, navigate to the top right of the screen and click the large Arrow icon, and the mail menu will load. Navigate to the right side of the screen and locate Accounting and click it.

  2. Navigate the sub-menu and locate Entries, under the reports sub-menu  locate GL Journal and click it.

  3. Select all the filters you want to process the GL Journal, then click Search or import. You can print out a GL Journal by clicking Print in the results on the right side of the records generated


Image of the GL Journal screen





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