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Getting Started

This comprehensive guide helps you get started with your accounting system, covering initial setup, essential configuration, and basic workflows. Written for all users — accountants and non‑accountants — it provides practical guidance following double‑entry accounting best practices.

What is This Accounting System?

This is a modern, web-based accounting application that provides comprehensive financial management capabilities for businesses of all sizes. The system follows international accounting standards and supports multi-currency operations.

Key Features:

  • Complete Financial Management: Handle invoices, bills, payments, and journal entries
  • Multi-Currency Support: Operate in multiple currencies with automatic conversion
  • Bank Reconciliation: Match bank statements with your accounting records
  • Real-Time Dashboard: Monitor financial health with live KPIs and charts
  • Multi-Language Interface: Available in English, Arabic, and Kurdish
  • Role-Based Access: Secure access controls for different user types

Accounting Foundation: The system implements double-entry bookkeeping principles, ensuring every transaction maintains the fundamental accounting equation: Assets = Liabilities + Equity.

System Requirements

User Permissions

  • Basic User: Create and edit transactions, view reports
  • Accountant: Full access to accounting features and reconciliation
  • Administrator: Complete system access including settings and user management

Initial System Setup

Step 1: Accessing the System

Navigate to your accounting system URL and log in with your credentials.

Step 2: Company Registration (First-Time Setup)

If no company exists, you'll be prompted to register one:

Company Name: Enter your business legal name

Currency: Select your primary operating currency (defaults to Iraqi Dinar)

Fiscal Country: Country code for tax regulations (e.g., 'IQ' for Iraq)

💡 Tip: The system comes pre-configured with Iraqi Dinar (IQD) and US Dollar (USD) currencies.

Step 3: Understanding the Dashboard

After login, you'll see the Financial Dashboard with:

  • Financial Stats Overview: Current month profit, year-to-date performance, receivables, payables, and cash balance
  • Income vs Expense Chart: 12-month trend analysis showing revenue, expenses, and net income
  • Cash Flow Widget: Overdue amounts and short-term cash flow forecasts

📝 Note: Dashboard widgets update automatically as you enter transactions.

Fiscal Year and Accounting Periods Setup

⚠️ Important: Configure your fiscal year before entering any transactions. This is foundational for accurate financial reporting and tax compliance.

Why Fiscal Periods Matter

Fiscal periods define your business's accounting calendar and determine:

  • When financial reports are generated
  • Tax reporting deadlines
  • Period-end closing procedures
  • Comparative analysis timeframes

Configuring Your Fiscal Year

Navigate to Settings → Company Profile

Fiscal Year Start: Most businesses use January 1st, but you can set any date that aligns with your business cycle or local regulations.

Common Fiscal Year Options:

  • Calendar Year: January 1 - December 31 (most common)
  • Government Fiscal Year: April 1 - March 31 (common in some countries)
  • Custom Business Year: Any 12-month period that suits your business

📝 Note: The system automatically creates monthly periods within your fiscal year for detailed reporting and analysis.

The system is organized into clusters (main sections) with related features grouped together:

Accounting Cluster

Navigate to Accounting to access core financial features:

Core Accounting Group:

  • Journal Entries: Manual accounting entries
  • Assets: Fixed asset management

Sales & Purchases Group:

  • Invoices: Customer billing and sales
  • Vendor Bills: Supplier invoices and purchases
  • Partners: Customer and vendor management

Banking & Cash Group:

  • Bank Statements: Bank reconciliation and cash management
  • Payments: Payment processing and tracking

Settings Cluster

Navigate to Settings for system configuration:

  • Companies: Company profile and defaults
  • Accounts: Chart of accounts management
  • Currencies: Multi-currency setup
  • Taxes: Tax rates and rules

Additional Clusters

  • Inventory Management: Product catalog and stock tracking
  • Human Resources: Employee and payroll management

Essential Configuration

Currency Setup and Exchange Rates

Navigate to Settings → Currencies

Default Currencies: The system comes pre-configured with:

  • Iraqi Dinar (IQD): Primary currency for Iraqi businesses
  • US Dollar (USD): Common international currency

Adding Additional Currencies: Click Create to add currencies for international operations:

  • Currency Code: ISO code (e.g., EUR, GBP, SAR)
  • Currency Name: Full name in multiple languages
  • Symbol: Currency symbol (€, £, ﷼)
  • Decimal Places: Usually 2, but 3 for IQD
  • Exchange Rate: Current rate against your base currency

💡 Best Practice: Update exchange rates regularly for accurate multi-currency reporting.

Tax Configuration

Navigate to Settings → Taxes

Default Tax Rates: The system includes pre-configured Iraqi tax rates:

  • VAT 10%: Standard Value Added Tax rate for Iraq
  • Tax Exempt: For tax-free transactions

Customizing Tax Rates:

  • Review default rates for accuracy with current regulations
  • Add additional tax rates as needed for your business
  • Configure tax accounts for proper reporting

Chart of Accounts Setup

Navigate to Settings → Accounts

Default Chart of Accounts: The system provides a comprehensive chart of accounts including:

Asset Accounts (1000s):

  • Bank accounts (USD and IQD)
  • Cash accounts (USD and IQD)
  • Accounts receivable
  • Inventory
  • Fixed assets (equipment, vehicles, buildings)

Liability Accounts (2000s):

  • Accounts payable
  • VAT payable
  • Long-term debt

Equity Accounts (3000s):

  • Share capital
  • Retained earnings
  • Current year earnings

Income Accounts (4000s):

  • Product sales
  • Service revenue
  • Consulting revenue

Expense Accounts (5000s):

  • Cost of goods sold
  • Salaries and wages
  • Rent, utilities, depreciation

Customizing Your Chart of Accounts: Click Create to add accounts specific to your business:

  • Code: Unique account number following the numbering system
  • Name: Descriptive account name (supports multiple languages)
  • Type: Select appropriate account type
  • Currency: Usually matches company currency

💡 Best Practice: The default chart covers most business needs. Only add accounts that are specific to your industry or reporting requirements.

Default Journals Setup

Navigate to Settings → Journals (configured automatically)

Default Journals: The system creates essential journals automatically:

Operational Journals:

  • Sales (INV): For customer invoices
  • Purchases (BILL): For vendor bills

Bank & Cash Journals:

  • Bank (IQD): Iraqi Dinar bank transactions
  • Bank (USD): US Dollar bank transactions
  • Cash (IQD): Iraqi Dinar cash transactions
  • Cash (USD): US Dollar cash transactions

Special Purpose Journals:

  • Miscellaneous Operations (MISC): Manual journal entries
  • Depreciation (DEPR): Asset depreciation entries

📝 Note: These journals are automatically configured with appropriate default accounts and are ready for immediate use.

Payment Terms Configuration

Navigate to Settings → Payment Terms (pre-configured)

Default Payment Terms: The system includes comprehensive payment terms:

Standard Terms:

  • Immediate payment
  • Net 15, Net 30, Net 45, Net 60 days

Early Payment Discounts:

  • 2% 10, Net 30 (2% discount if paid within 10 days)
  • 1% 15, Net 30 (1% discount if paid within 15 days)

End of Month Terms:

  • EOM (End of Month)
  • EOM + 15, EOM + 30

Installment Terms:

  • 50% Now, 50% in 30 Days
  • Quarterly payments

💡 Best Practice: Review these terms and activate only those relevant to your business practices.

Partner (Customer/Vendor) Setup

Navigate to Accounting → Partners

Step 1: Create Your First Customer Click Create and enter:

  • Name: Customer business name
  • Type: Select "Customer" or "Both" if they're also a vendor
  • Contact Information: Address, phone, email
  • Payment Terms: Select from pre-configured terms (e.g., Net 30)
  • Currency: Customer's preferred currency

Step 2: Create Your First Vendor Similar process, but select "Vendor" as the type.

📝 Note: Partners marked as "Both" can be used for both sales and purchase transactions.

Product/Service Catalog

Navigate to Inventory Management → Products

Step 1: Create Products/Services

  • Name: Product or service description
  • Type: Product (physical goods) or Service
  • Unit Price: Default selling price
  • Cost: Purchase or production cost
  • Tax: Select from pre-configured tax rates

Step 2: Configure Inventory (for Products)

  • Track Inventory: Enable for physical products
  • Initial Stock: Starting quantity on hand
  • Reorder Level: Minimum stock alert threshold

Default Stock Locations: The system creates:

  • Warehouse: Main inventory location
  • Vendors: Virtual location for vendor stock

Basic Transaction Workflows

Creating Your First Customer Invoice

Navigate to Accounting → Invoices

Quick Steps:

  1. Click Create and select customer
  2. Add invoice lines with products/services
  3. Review totals and tax calculations
  4. Click Post to finalize

Key Points:

  • Uses pre-configured Sales journal (INV)
  • Automatically applies customer's payment terms
  • Tax rates applied based on product configuration
  • Posted invoices create automatic journal entries

📖 For detailed instructions: See Customer Invoices Guide

Recording Your First Vendor Bill

Navigate to Accounting → Vendor Bills

Quick Steps:

  1. Click Create and select vendor
  2. Enter vendor's invoice details
  3. Add bill lines with products/services
  4. Click Post to record the expense

Key Points:

  • Uses pre-configured Purchases journal (BILL)
  • Automatically applies vendor's payment terms
  • Expense accounts auto-filled based on products
  • Creates accounts payable entries

📖 For detailed instructions: See Vendor Bills Guide

Processing Payments

Navigate to Accounting → Payments

Quick Steps:

  1. Select payment type (Receive/Send)
  2. Choose partner and payment method
  3. Enter amount and select bank/cash journal
  4. Link to outstanding invoices/bills

Key Points:

  • Uses appropriate bank or cash journal
  • Automatically suggests outstanding amounts
  • Handles multi-currency conversions
  • Updates partner balances immediately

📖 For detailed instructions: See Payments Guide

Bank Reconciliation Basics

Navigate to Accounting → Bank Statements

Quick Steps:

  1. Import or manually create bank statement
  2. Match statement lines with accounting records
  3. Identify and resolve discrepancies
  4. Confirm reconciliation

Key Points:

  • Requires bank reconciliation to be enabled in company settings
  • Uses pre-configured bank journals
  • Automatically suggests matching transactions
  • Maintains complete audit trail

📖 For detailed instructions: See Bank Reconciliation Guide

Understanding Status Workflows

Document Status Flow

Draft → Posted → (Paid/Reconciled)

  • Draft: Being prepared, can be edited freely
  • Posted: Finalized, creates accounting entries, cannot be edited
  • Paid/Reconciled: Final status when fully processed

⚠️ Important: Only posted transactions affect financial reports and dashboard widgets.

Multi-Currency Operations

Default Currency Configuration

The system supports multi-currency operations with:

  • Iraqi Dinar (IQD): Typically the base currency
  • US Dollar (USD): Common secondary currency
  • Additional currencies: Can be added as needed

Multi-Currency Transactions

When creating transactions in foreign currencies:

  • Exchange Rate: Captured automatically at transaction date
  • Company Currency Amounts: Calculated automatically
  • Gain/Loss: Recorded when payments are made at different rates

Example:

  • Invoice: $1,000 USD at rate 1,500 IQD/USD = 1,500,000 IQD
  • Payment: $1,000 USD at rate 1,520 IQD/USD = 1,520,000 IQD
  • Exchange Gain: 20,000 IQD

Financial Dashboard Overview

Key Performance Indicators

Financial Stats Overview:

  • Current month and year-to-date profit
  • Outstanding receivables and payables
  • Cash balance across all accounts
  • Gross profit margin

Income vs Expense Chart:

  • 12-month trend analysis
  • Visual comparison of revenue and expenses
  • Net income tracking over time

Cash Flow Widget:

  • Overdue receivables requiring immediate attention
  • Overdue payables needing payment
  • 7-day and 30-day cash flow forecasts

Accessing Financial Reports

Navigate to Accounting → Reports for comprehensive reporting:

  • Profit & Loss Statement
  • Balance Sheet
  • Aged Receivables/Payables
  • Trial Balance
  • Cash Flow Statement

📝 Note: All reports are generated in real-time based on posted transactions.

Best Practices for New Users

System Setup Checklist

Before entering transactions, ensure you have:

  • ✅ Configured fiscal year and accounting periods
  • ✅ Reviewed and customized chart of accounts
  • ✅ Set up currencies and exchange rates
  • ✅ Configured tax rates for your jurisdiction
  • ✅ Created essential partners (customers/vendors)
  • ✅ Added products/services to catalog
  • ✅ Verified default journals and payment terms

Daily Workflow Recommendations

Morning Routine:

  1. Check dashboard for key financial indicators
  2. Review overdue receivables and payables
  3. Process any pending payments

Transaction Entry:

  1. Enter transactions promptly (same day when possible)
  2. Always verify partner information before posting
  3. Use pre-configured products and tax rates
  4. Post transactions only when completely verified

End of Day:

  1. Review draft transactions for completeness
  2. Post confirmed transactions
  3. Check cash balances against bank records

Data Entry Best Practices

Leverage Default Data:

  • Use pre-configured payment terms instead of custom terms
  • Select from existing tax rates rather than manual calculations
  • Choose from product catalog for consistent pricing
  • Use standard chart of accounts before adding custom accounts

Accuracy and Consistency:

  • Enter reference numbers for easy tracking
  • Use meaningful transaction descriptions
  • Maintain consistent naming conventions
  • File supporting documents systematically

Security:

  • Log out when finished working
  • Don't share login credentials
  • Report suspicious activity immediately
  • Regular backup of important data

Troubleshooting

Common Issues

Q: I can't edit a posted transaction. What should I do? A: Posted transactions are locked to maintain audit trails. To make changes:

  • Create reversing entries for corrections
  • Use adjustment documents for complex changes
  • Contact your accountant for guidance on proper procedures

Q: My dashboard shows zero balances but I've entered transactions. A: Check that transactions are Posted, not just saved as drafts. Only posted transactions affect financial reports and dashboard widgets.

Q: Exchange rates seem incorrect on my foreign currency transactions. A: Verify that:

  • Currency exchange rates are current in Settings → Currencies
  • Transaction dates are correct (rates are captured at transaction date)
  • Your base currency is properly configured

Q: I can't find a specific account in the dropdown. A: The system provides comprehensive default accounts. Before creating new accounts:

  • Check if an existing account serves the same purpose
  • Verify the account type matches your needs
  • Consult your accountant about chart of accounts structure

Error Messages

"Cannot delete a company with associated financial records"

  • This protects data integrity
  • Archive the company instead of deleting
  • Contact administrator if deletion is absolutely necessary

"Transaction date is in a locked period"

  • Your accountant has locked past periods for accuracy
  • Use current date or contact accountant to unlock period

Getting Help

  • Use the Help/Docs button in resource headers for specific guidance
  • Contact your system administrator for access issues
  • Consult with your accountant for complex accounting questions
  • Refer to detailed user guides for comprehensive procedures

Next Steps

Immediate Actions

  1. Complete System Setup: Follow the configuration checklist above
  2. Enter Opening Balances: Record your starting financial position
  3. Create First Transactions: Start with simple invoices and bills
  4. Review Reports: Check that data appears correctly in financial reports

Ongoing Learning

  • Master Core Workflows: Practice creating invoices, bills, and payments
  • Explore Advanced Features: Bank reconciliation, multi-currency operations
  • Understand Reporting: Learn to interpret financial statements and KPIs
  • Develop Procedures: Establish consistent processes for your team

Additional Resources

🎉 You're Ready to Begin! Your accounting system is now configured with industry-standard defaults and ready for daily operations. The pre-configured chart of accounts, tax rates, payment terms, and journals provide a solid foundation for most businesses. Start with basic transactions and gradually explore advanced features as your confidence grows.