Accounting

1. Enable Accounting

1. Go to Settings → Preferences → Modules.
2. Turn on Accounting under Operations.
3. Open Accounting from the main sidebar. Tracksales creates a default chart of accounts for your organization the first time you use it.

Access is controlled under Settings → Team roles (view accounting, manage chart of accounts, post journals, view banking, view reports, manage settings).

2. What’s included

• Dashboard — recent journals, drafts, and quick links.
• Chart of accounts — list, create/edit accounts, open an account ledger, export/print.
• Journal entries — review auto-posted entries and create manual journals.
• Settings — accounting method (accrual or cash), fiscal year, VAT notes.
• Transaction locking — close periods by module and allow limited unlock windows.
• Banking — bank accounts, transactions, statement import, and reconciliation.
• Reports → Accounting Reports — Profit & Loss, Balance Sheet, Trial Balance, General Ledger, Journal Report, Day Book, and account analysis reports.

3. Recommended setup

1. Enable the module and open Accounting so the chart of accounts initializes.
2. Under Accounting → Settings → General, choose Accrual or Cash and set the fiscal year start.
3. Review system accounts (receivables, payables, cash, inventory, sales, COGS, VAT, payroll) and add any custom accounts you need.
4. Grant Accounting and report permissions to finance users under Team roles.

Accrual recognizes revenue and purchases when invoices/bills are finalized. Cash recognizes them when payments are received or made. Changing the method later does not rewrite journals that are already posted.

4. How documents become journals

You usually do not enter the ledger by hand. Tracksales posts (or reverses) journals from operational documents:

• Invoices — on finalize (accrual); payments update cash/AR (and cash-basis revenue).
• Credit notes — on create/finalize where applicable.
• Bills and vendor credits — on finalize (accrual); vendor payments update cash/AP.
• Expenses — when recorded, using expense/category accounts where configured.
• POS sales — paid sales, returns, and exchanges, including cost of goods sold.
• HR & Payroll — payroll approval accruals, payslip payments, remittances, and paid salary advances.

Each document posts at most once. Editing or voiding a document may reverse or repost the related journal so the ledger stays consistent.

5. Chart of accounts

Open Accounting → Chart of accounts to browse accounts by type (Asset, Liability, Equity, Income, Expense) and subtype. You can:

• Create and edit custom accounts.
• Activate or deactivate accounts.
• Open an account to view its ledger and print or export it.
• Leave system accounts in place so auto-posting continues to work correctly.

6. Journal entries

Under Accounting → Journal entries you can filter and inspect entries, including those linked back to invoices, bills, payments, POS sales, and payroll.

• Create a manual journal for adjustments (debit and credit sides must balance).
• Print journals when you need a paper or PDF record.
• Prefer correcting the source document when possible, then let Tracksales reverse/repost.

7. Accounting reports

Go to Reports and open the Accounting / Accountant section to run:

• Profit & Loss, Balance Sheet, Trial Balance
• General Ledger and Journal Report
• Day Book and account type summary / transaction reports

Choose the period and filters that match your fiscal close or management review.

8. Transaction locking

Use Accounting → Settings → Transaction locking to lock modules (Sales, Purchases, Expenses, Payroll, Accountant) through a date after books are reviewed.

• Locked periods block create/edit/delete of documents in that module through the lock date.
• Open a partial unlock window when a correction is needed inside a locked period.
• Close the unlock window again when the correction is done.

9. Banking and reconciliation

Open Banking (with Accounting enabled) to manage bank and credit card accounts, record transfers and manual transactions, import statements, and match or exclude statement lines.

Use banking to track cash movement and reconcile statements alongside your ledger workflows and payment records.

10. Connection to HR & Payroll

When Accounting is on, HR payroll events post to the ledger automatically:

• Approving a payroll run can post payroll accruals (accrual method).
• Issuing payslips posts payroll payments / cash-basis expense.
• Marking remittances and salary advances as paid posts the related cash or liability movements.

Keep employee pay components and HR settings accurate so payroll and the ledger stay aligned. See the HR & Payroll guide for the HR workflow.