Accounting Module Guide

Account Types:

• • Assets: What your company owns (Cash, Bank, Inventory, Equipment)
• • Liabilities: What your company owes (Loans, Payables)
• • Equity: Owner stake in the company (Capital, Retained Earnings)
• • Income: Revenue earned (Sales, Service Income)
• • Expenses: Costs incurred (Rent, Salaries, Utilities)

Steps to View Chart of Accounts:

1. Click on the Accounting module
2. Select Chart of Accounts from the menu
3. View all accounts organized by type
4. Use search to find specific accounts
5. Filter by account type to focus on specific categories

When to Use Journal Entries:

• • Recording depreciation
• • Making accounting adjustments
• • Correcting errors
• • Recording accruals and deferrals
• • Year-end closing entries

Steps to Create a Journal Entry:

1. Navigate to Accounting > Journal Entries
2. Click + New Journal Entry
3. Enter posting date
4. Add reference number
5. Add description
6. Add debit entries with account and amount
7. Add credit entries with account and amount
8. Verify Total Debit equals Total Credit
9. Click Submit to post the entry

How to Access:

1. Go to the Accounting module
2. Click All Transactions
3. View complete transaction history
4. Apply filters by date, account, or transaction type
5. Export transactions for analysis

Transaction Types You Will See:

• • Sales Invoices
• • Purchase Invoices
• • Payment Entries
• • Payment Receipts
• • Journal Entries
• • Bank Transactions
• • Expense Claims

Bank Accounts Management:

1. Navigate to Accounting > Banking > Bank Accounts
2. View all registered bank accounts
3. Click + Add Bank Account
4. Enter bank details
5. Link to Chart of Accounts
6. Set opening balance if migrating

Bank Statements:

1. Go to Accounting > Banking > Bank Statements
2. Import bank statements
3. Map columns to Laabam.One fields
4. Review imported transactions
5. Match transactions with system entries

Auto-Categorization Rules:

1. Open Accounting > Banking > Auto-Categorization Rules
2. Click + Create Rule
3. Define rule conditions
4. Assign account category
5. Save and activate
6. Future matching transactions auto-categorize

Bank Reconciliation:

1. Go to Accounting > Banking > Bank Reconciliation
2. Select bank account
3. Choose reconciliation period
4. Enter statement ending balance
5. Mark cleared transactions
6. Resolve discrepancies
7. Complete reconciliation when balanced

Steps to Set Up Digital Wallets:

1. Navigate to Accounting > Banking > Digital Wallets
2. Click + Add Digital Wallet
3. Enter wallet details
4. Link to Chart of Accounts
5. Set opening balance
6. Record wallet transactions

How to Record a Transfer:

1. Go to Accounting > Banking > Account Transfers
2. Click + New Transfer
3. Select From Account
4. Select To Account
5. Enter transfer amount
6. Add transfer date
7. Include reference or description
8. Click Submit

Available Quick Actions:

• • New Journal Entry
• • View General Ledger
• • Trial Balance
• • Profit and Loss
• • Balance Sheet

General Ledger:

• • Complete record of transactions by account
• • Filter by account and date range
• • Export for further analysis

Trial Balance:

• • Lists debit and credit balances of all accounts
• • Select period (monthly, quarterly, yearly)
• • Verify Total Debits equals Total Credits
• • Use for error detection

Profit and Loss Statement:

• • Shows revenue and expenses over a period
• • Select date range
• • Analyze net profit or loss
• • Compare periods for trends

Balance Sheet:

• • Snapshot of financial position on a specific date
• • View assets, liabilities, and equity
• • Verify Assets equals Liabilities plus Equity
• • Assess overall financial health