Audit Trail is a crucial feature in accounting software that allows businesses to maintain a record of all the changes made to their financial

A transaction that involves multiple branches is called an “inter-branch transaction.” In RealBooks the inter-branch transactions…

Multi-Branch transaction (MBT) facilitates the organization to post banking transactions to multiple branches together…

Opening balances are the balances in each of your company’s accounts at the beginning of a specific period of time.

A journal voucher is used to record various types of entries. Some of them are booking expenses, tax adjustments, provision entries, etc…

A payment voucher is used to record all types of payments made. Some of them are making payments for expenses, to vendors, etc.

A receipt voucher is used to record all types of receipts made. Some of them are making receipts for income, for vendors, etc.

An invoice voucher type is used to create a document that is issued by a seller to the buyer against the services rendered.

A contra voucher is used to record all types of cash and bank entries. like withdrawals and deposits from the bank and cash accounts.

A debit note is sent from a buyer to a seller in order to request a return for defective or damaged goods or other specified reasons.

A credit note is given by a seller to their buyer to be used in any situation where a revised and reissued invoice would be needed.

This feature can be used to adjust receipts and payments that have not been tagged against any outstanding bills and are therefore lying…

Purchase means getting the ownership of any goods or services, by paying the predetermined price of them. it may be in cash or credit.

A purchase order is a written confirmation of a specific order for products or services that is sent from a buyer to a vendor.

In case, any buyer returns a purchased product for any reason to the seller, the same is recorded in the purchase return voucher.

A purchase requisition is a formal way of issuing a purchasing notice. It is just merely beginning the process of a purchase.

A sales entry records the revenue generated by the sale of goods or services, the cost of goods sold and sales tax payable etc.

A sales order is a document that confirms the sale of the goods or services involved in a particular transaction…

In case any customer or client returns defective, damaged, or undesirable products to the seller, it records that in the sale return voucher.

Point of sale is a setup that fast tracks the invoicing process, allowing faster check out from the billing sections. This set up is very popular in the retail sector.

A sales cycle or an Order to Receive cycle encompasses all the activities needed to close a B2B sale. It encapsulates…

A purchase cycle or an order-to-pay cycle encompasses all the activities needed to complete a procurement cycle…

Stock transfer refers to the process of moving goods within a single company from one godown to another.

The stock journal is used for necessary stock adjustments and manufacturing process entries made by the user.