Basic Accounting
The Accounting Master module in Parsimony allows for centralized management of all accounting settings and configurations. Start to learn how to set up and manage Finance books and more!
1.1 Company
1.2 Chart of Accounts
1.3 Account Settings
1.4 Fiscal Year
1.5 Accounting Dimension
1.6 Finance Book
1.7 Accounting Period
1.8 Payment Term
The General Ledger is a detailed report for all transactions posted to each account and for every transaction there is a Credit and Debit account so it lists them all up.
2.1 Journal Entry
2.2 Journal Entry Template
2.3 General Ledger
2.4 Customer Ledger Summary
2.5 Supplier Ledger Summary
Financial statements are written records that convey the business activities and the financial performance of a company.
3.1 Trial Balance
3.2 Profit and Loss Statement
3.3 Balance Sheet
3.4 Cash Flow Statement
3.5 Consolidated Financial Statement
All Courses Basic Accounting 1.1 Company
1.1 Company
Chermaine
Mar 4, 2024

🌟 Get ready to launch your business into the stratosphere with Parsimony's company creation wizard!

Summary

🚀 This powerful feature allows you to easily set up all the essential details for your organization. 💫 From naming your blazing company to specifying its default stellar currency, you're in complete control. 🔭 Provide key info like address, website, and more to craft the perfect digital headquarters. 🛰️ Once created, your company listing will be ready to propel your financial endeavors to new heights! 🎉

Highlights

🏢 Access the Accounting Module from the Parsimony dashboard

🌐 Fill in essential company details such as name, currency, address, and website

💼 Easily add a new company and manage existing ones in the company list

💰 Select the default currency for your company

📊 Managing company details is crucial for accurate financial reporting and analysis

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