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Accounting Guides

Manage your financial accounting processes — from initial chart of accounts setup to daily transaction recording, bank reconciliation, and financial reporting.

🚀 Get Started / Setup

New to accounting in BigLedger? Begin here to set up your financial foundation.

📋 Chart of Accounts Setup
Design your account structure — the foundation for all financial reporting
🧾 Credit Limits and Payment Terms
Build the payment terms and credit limits you trade on, and learn what BigLedger does with them

What you’ll set up:

  • Account groups and categories (Assets, Liabilities, Equity, Revenue, Expenses)
  • Account numbering conventions
  • Default accounts for automated posting
  • Opening balances for migration — see Opening Balance Migration for the full sequence
  • The payment terms and credit limits your customers and suppliers trade on
First time? Complete the Chart of Accounts setup before recording any transactions. All journal entries, invoices, and payments post to accounts defined here.

📝 Daily Tasks

Guides for everyday accounting activities your team performs regularly.

📝 Journal Entries
Record financial transactions — adjustments, accruals, reclassifications, and corrections
🏦 Bank Reconciliation
Match bank statements to system records — detect discrepancies and ensure accuracy

Typical daily workflow:

  1. Record journal entries for non-automated transactions
  2. Review the entries posted since yesterday — there is no approval queue for journals, so the review is yours to run
  3. Reconcile bank transactions against statements
  4. Investigate and resolve discrepancies

⚠️ Common Scenarios / Pitfalls

Watch out for these frequent accounting issues:

ScenarioWhat HappensHow to Handle
Unbalanced journalsDebit ≠ Credit — the Create button stays disabled and the server refuses it tooHover the Create button for the unmet condition; fix the line
Wrong period postingTransaction appears in wrong monthVerify posting date matches correct period
Duplicate entriesInflated balancesSearch for existing entries before creating new ones
Bank charges booked as a manual journalThe journal writes no cashbook line, so the reconciliation never sees itEnter bank charges and interest as a Payment or Receipt Voucher on that cashbook
Opening balance errorsReports incorrect from day oneVerify trial balance after migration
Month-End Reminder: Always complete bank reconciliation before running monthly financial reports. Unreconciled items will cause report discrepancies.

📊 Reporting Usage

Generate and analyze your financial statements.

📊 Financial Reporting
Close the month, then generate the Trial Balance, Profit and Loss and Balance Sheet snapshots

Available Reports:

  • Trial Balance — every account with movement in the snapshot’s month range; debits must equal credits
  • Profit And Loss — revenue, cost of sales and expenses for the range, from what has been journalled
  • Balance Sheet — the position at the end month
  • MITRS — the same figures restricted to the GL categories flagged for Malaysian income-tax reporting
  • Profit Loss Report — the ad-hoc view by branch, segment, profit centre, project or dimension, with cost of sales computed live

There is no cash flow statement and no consolidated group statement; one snapshot per Set of Books.

Reporting tips:

  • Run Month End Processing for every month in the range first — a snapshot reads what month-end wrote, and month-end is also what writes the cost-of-sales journal (only when the company’s COGS and STOCK_BALANCE default GL codes exist)
  • Check the Trial Balance footer first; an imbalance is a journal problem, not a report problem
  • Compare snapshots side by side with the Reports button on the listing
  • Export each tab’s grid for the accountant

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