This module deals with accounts of an organization. This is done by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account.
1.Ledger Types : A ledger is a book or other collection of financial accounts of a particular type. Before adding any expenditure or income a ledger type has to be defined. There are five different accounts that are treated differently when the accounts are prepared. They are: Assets, Liabilities, Capitals, Incomes, Expenses. The system allows the user to:
a.Add 'New Ledger Types': Select 'Ledger Types' module under 'Transaction Ledger', click on 'New' fill in all the required field then click on 'Save'.
b. Edit Ledger Types: Double-click a specific 'Ledger type' record to 'Edit' it or 'Delete' it. Fill in all the required fields and click on 'Edit', or click on 'Delete' if you want to delete the record.
2. Expenditure: This is a payment in cash or barter credits, or the incurrence of a liability by an entity, in exchange for goods or services. Evidence of the documentation triggered by an expenditure is a sales receipt or an invoice. The system allows the user:
a. Add 'New' Expenditure: Under expenditure Click on 'New', fill in all the required fields then click on 'Save'
b. Add Expenditure 'Details': Double-click on the expenditure record, click on 'Details', then 'New', and finally click on 'Save'
c. View Expenditure 'Receipt': Double-click on the expenditure record and click on 'Receipt'
3. Income: It is a record kept by business bookkeepers of all revenue that has come into a business over a specific period of time. It is also known as a sales ledger or a revenue ledger, this ledger represents all of the money coming into a business from its customers. The system allows the user to:
a. Add 'New' Income: Under Income Click on 'New', fill in all the required fields then click on 'Save'
b. Add Income 'Details': Double-click on the Income record, click on 'Details', then 'New', and finally click on 'Save'
c. View Income 'Receipt': Double-click on the income record and click on 'Receipt'
d. View Income 'Invoice': Double-click on the income record and click on 'Invoice'
4. Ledger Summary: This is a summary report that shows all transactions from all accounts for a chosen date range. The initial summary report shows the totals for each account and from here you can view a detailed transaction report or any exceptions. This report is useful for checking every transaction that occurred during a certain period of time.The system allows the user to:
a. View the list of 'Ledger Summary': Under Transaction click on 'Ledger Summary'
The user is able to 'Copy Month' of a specific Ledger summary year: Click on a specific ledger summary record, select 'Copy Month' in the drop-down menu then click on 'Action'
b. Expenditure: The user is able to 'Add New Expenditure'. Double-click on a specific ledger summary record then click on 'New' and 'Save'
Once the expenditure, the system allows the user to 'Process, Unprocess, Complete, Clear, Post' the expenditure.
c. Income: The user is able to 'Add New Income'. Double-click on a specific ledger summary record then click on 'New' and 'Save'
Once the income is created, the system allows the user to 'Process, Unprocess, Complete, Clear, Post' the income.
d. Reports: Baraza Business Management System allows the user to view various summary reports such as : Transaction Ledger Report, Uncleared Transaction Report, and Tax Transaction Report
Under Ledger Summary, click on 'Report'
Under Ledger Summary click on 'Uncleared'
Under Ledger Summary click on 'Open'
Under Ledger Summary click on 'Tax'
For every business transaction to happen there has to be a budget. Baraza Business Management System provides a 'Budget' module to its users.
BUDGET: This is a financial document that contains a summary of likely income and expenses for a given period.
«Click on the image below for further instructions/details on Budget