Accounts & finance: complete guide

How the chart of accounts is structured

Accounts are organised in five levels. Each level rolls up into the one above it, which is what gives you both summary statements and full drill-down detail.

• Main Head — assets, liabilities, equity, revenue, expenses.
• Head — current assets, fixed assets, current liabilities, sales revenue, operating expenses.
• Sub Head — receivables, payables, cash & bank, utilities, salaries.
• Control Head — trade debtors, trade creditors, bank accounts.
• Account — the individual account: one customer, one supplier, one bank account, one expense head.

Building your chart of accounts

1. 1Open Account & Finance → Definition → Main Head and create your five main heads.
2. 2Create heads under each main head, then sub heads, then control heads.
3. 3Open Account Opening and create the individual accounts under the correct control head.
4. 4Give each account a clear code and description — these appear on every report.

Opening balances

When you start using Eywa ERP mid-year, enter what each account was worth on your start date: bank balances, cash in hand, what customers owe you, what you owe suppliers, and your capital.

Enter these as an opening journal voucher so total debits equal total credits. Your trial balance should balance before you record any live transaction.

Voucher types and when to use each

Sales and purchase entries post their own accounting automatically, so you rarely need a manual voucher for them.

• Cash Payment — money paid out in cash (expenses, petty purchases).
• Cash Receipt — money received in cash (customer payments, other income).
• Bank Payment — payments by cheque or transfer.
• Bank Receipt — amounts received into your bank account.
• Journal — adjustments, opening balances, depreciation, corrections — anything not involving cash or bank movement.

Recording a voucher

1. 1Go to Account & Finance → Transactions → Voucher and choose Add.
2. 2Select the voucher type and date.
3. 3Choose the account the money moved from or to.
4. 4Add lines with the account, narration and debit or credit amount.
5. 5Check that total debit equals total credit, then save.
6. 6Submit for approval where your process requires it.

Checking a single account

Account Ledger shows every transaction for one account with a running balance — use it to answer "what has this customer bought and paid?" or "what did we spend on utilities?". Party Debit & Credit compares the two sides for a party at a glance.

Your financial statements

• Trial Balance — all accounts with their debit and credit totals. If it does not balance, something needs fixing before you go further.
• Profit & Loss — income minus expenses for a period.
• Balance Sheet — what you own and owe on a date.
• Cash Flow Statement — where cash came from and went.

Receivables, payables and bank

• AR Aging — who owes you and for how long, in overdue buckets.
• AP Aging and Outstanding Payables — what you owe and when it falls due.
• Bank Reconciliation — match your bank statement against your books and clear the differences.

Management reports

• Budget vs Actual — planned against real spending per account head.
• Profit Margin Analysis — margins by period.
• Expense Trend and Revenue Growth — direction of travel month by month.
• Break-Even Analysis — the sales level at which you cover costs.
• Cost of Production — what your output actually costs.

FBR digital invoicing

Under Account & Finance → FBR Digital Invoices you prepare tax invoices, validate them and submit them to FBR. Enter your credentials once under FBR Settings. Each invoice shows its FBR status, and failures show the reason so you can correct and resubmit.

Month-end routine

1. 1Post all outstanding purchase and sales invoices.
2. 2Enter cash and bank vouchers for the month.
3. 3Reconcile every bank account.
4. 4Review AR and AP aging and follow up on overdue amounts.
5. 5Check the trial balance, then review Profit & Loss and the Balance Sheet.