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A journal voucher is used to record various types of entries. Some of them are booking expenses, tax adjustments, provision entries, etc. Usually…
An invoice voucher type is used to create a document that is issued by a seller to the buyer. The accounting invoice helps in the creation of a service invoice.
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. Some of them are payments received from customers against sales made, or on sale of some furniture, etc.
A contra voucher is used to record those transactions which involve both cash and bank or multiple banks. Some examples are – Cash deposited to a bank…
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.
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 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. MBT works on the assumption…
Bill adjustment can be used to adjust receipts and payments that have not been tagged against any outstanding bills and are therefore lying unadjusted.
Opening balances are the balances in the company’s accounts at the beginning of a specific period of time.
A Ledger is a set of numbered accounts of a business used to keep a track of its financial transactions and to prepare financial reports. Each account is a unique record…
A group of standard ledgers is called a ledger group, and it is used to apply general ledger accounting operations and procedures to the group as a whole.
Cost category refers to the grouping of comparable or related expenses for reporting, accumulation of costs, or profits for parallel sets of cost centers. Additionally…
A Cost Centre is a department within an organization that does not directly add to the profit but still costs the organization money to operate. Cost Centres only contribute…
A voucher is an internal document that is used to classify accounting/inventory documents. By default, the basic voucher types are available on RealBooks…
A financial year is a twelve-month period used by companies and other businesses to calculate their budgets, profits, and losses.
The party type is a field that can be assigned to a ledger and used as per the purpose. Ex- Broker, Salesman, Transporter, etc. Based on this assignment…
A segment is a branch of a company that runs its own operations and generates its own revenue. It is useful for multi-location accounting.
Tag Group is a feature that allows you to add additional hierarchy with the help of tags in a way that can be easily used for searching and grouping records.
The Tag feature helps the user with re-grouping of ledgers into different categories beyond the normal accounting report available…
Computation of TDS, and filing the return becomes very easy with RealBooks’ Automatic TDS feature. With just a few rules in place within the software…
Users are the individuals, who are given access to the company companies segments’ books, based on their user edition and assigned permission roles.
Follow this step-by-step guide to learn how to create a New Company in RealBooks accounting software and many more.
Schedule your reports using the RealBooks Scheduler feature. The feature notifies you and sends you automated reports through email regularly.
The Ledger Properties section in RealBooks allows users to create, manage, and customize ledger accounts efficiently. This guide will walk you through…
A Ledger is a set of numbered accounts of a business used to keep a track of its financial transactions and to prepare financial reports.
A Bank Template is a predefined set of instructions and data fields that standardize and automate regular banking transactions.
A Day Book is a book of original entries in which all financial transactions are displayed as and when they occur.
A Trial Balance is an internal financial report that shows the debit/credit balances of the chart of accounts for a specific date range.
A Balance Sheet is a financial statement that reports all the assets, liabilities, and shareholder’s funds of a company.
A Profit & Loss account is an internal financial report that shows the record of all income and expenses for a specific date range.
A Ledger Group Report is a financial report that displays all the Ledger Groups wise opening, closing, debit & credit balances in a summarized format.
A Ledger report is a collection of accounting data in which the transactions pertaining to specific accounts are recorded.
The tag report feature helps the user extract various reports based on the regrouping of ledgers into different categories.
Bank Reconciliation Report generally comprises balance as per books, Balance as per bank, and Open Line Items. This can be seen in the Summary…
The Branch Reconciliation Report allows the user to verify the consistency of interrelated data across different branches by comparing and reconciling transactions…
The Bill Status Report is a comprehensive tool designed to help users track the progress and status of various bills within a specified period. This report provides…
Item Group describes the nature of the items. Here the user can create unlimited item groups and group hierarchies for different natures of items.
The key information about an inventory item is contained in the item master record. This information could contain the item’s description..
Godown refers to the warehouse/storage location via which the stock is routed. Godown Master contains the details related to the Godown…
Units or UOM are the standard units of measurement that needs to be assigned to the items to express them in quantity.
The HSN master is a dedicated master table, wherein users can capture the HSN-wise GST rates that allow the system to auto-configure the tax rates in the masters.
A price list is a list of the prices assigned to a set of items. Each price list is valid for a specific time period. Based on a variety of factors, a price list might be created for different clients.
A Bill Of Material(BOM) is an extensive list of Materials and their quantities required to produce a product.
A Delivery Order Status Report (also known as a Delivery Challan Report) is a document that tracks the status of goods that have been shipped from a supplier to a customer…
A Godown report provides an overview of the inventory and stock levels in a warehouse or storage facility. It includes information about the items stored, their quantities…
Goods Receipt Note (GRN) is a document that acknowledges the receipt of goods from a supplier. The GRN report lists the details of the goods received, as well as any discrepancies…
An Item Group Report shows the quantity and value of each item in a particular item group that is currently available.
Item Register report helps the user to view item movement in a transaction-wise detailed listing along with the inflow-outflow rates for each transaction.
An Item Wise Profitability Report is a report that displays the profit or loss generated from selling specific items during a specified time period.
A Purchase Register is a report that shows all the entries related to purchases for a specified date range.
A Purchase Summary is a report that summarises the purchases for a specified date range either based on an item, item group, or party.
A Sale Analysis report helps the user to track the movement of the goods in the inventory and plan the procurement of the inventory accordingly.
The Sale Order Status is a document that provides information on the current status of sales orders in an organization. It helps management…
A Sale Register is a report that shows all sales, sale returns, and proforma invoice-related entries for a specified date range.
A Sale Summary is a report that summarizes the sale for a specified date range either based on an item group or party.
A Stock Aging is a financial document that helps the user to keep a close tab on how long your business determines the stock that is needed and avoids negative productivity by removing…
This report lists all the transactions related to the Stock Journal and Manufacturing Journal entered into the Books. Users can easily filter the listing based on their requirements.
The voucher listing is an Inventory Day Book in which only the inventory-related transactions, both financial and non-financial, are displayed as and when they occur.
Closing Stock also referred to as Ending Inventory, signifies the value of unsold goods at the conclusion of an accounting period. It is a pivotal component in financial statements…
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.
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 sale entry records the revenue generated by the sale of goods or services, the cost of goods sold, and sales tax payable, etc.
In case, any customer or client returns defective, damaged, or undesirable products to the seller, the same is recorded in the sales return voucher.
In case, any buyer returns a purchased product for any reason to the seller, the same is recorded in the purchase return voucher.
Point of sale is a setup that fast-tracks the invoicing process, allowing faster checkout from the billing sections. This setup is very popular in the retail sector.
A sales order is a document that confirms the sale of the goods or services involved in a particular transaction. It is created by the seller and provided to the consumer.
A purchase requisition is a formal way of issuing a purchasing notice. It is merely the beginning of the process of purchase by asking for internal permission.
A purchase order is a written confirmation of a specific order for products or services that are sent from a buyer to a vendor.
A sales cycle or an Order to Receive cycle encompasses all the activities needed to close a B2B sale. It encapsulates the way your business manages…
A purchase cycle or an order-to-pay cycle encompasses all the activities needed to complete a procurement cycle timely and effective…
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