Double-entry accounting

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Banana Accounting has modernized double-entry bookkeeping. Many features allow you to enter data quickly and professionally, in compliance with international double-entry standards. Many complex operations, such as VAT management, multi-currency, drafting of the Balance Sheet and Income statement have been made very simple because they have all been automated.

Your only job you is to enter the accounting operations, the program will take care of the rest:

  • It is no longer necessary to set up laborious Chart of Accounts, Banana Accounting provides you with various templates for the most diverse needs
  • You do not have to enter the opening and closing records (Opening balance and Closing balance) because the transition to the new year with, the carrying over of the initial balances, is automatic
  • Once the transactions have been entered, there is no need to report the balances in the general ledger. They are automatically reported
  • The Balance Sheet and the Income statement can be displayed instantly with a click and you can choose either a simple structure with the grand totals or with the intermediate totals, that will deliver more details.
  • To register VAT, you do not need to enter an additional registration, but simply enter a code that allows to calculate the VAT amount and to record it simultaneously in the VAT account
  • VAT Forms are automated thanks to specific extensions that will allow you to send VAT data to the tax authorities.
  • You don't have to wait till the end of the year to find out the profit or loss, because after each registration you have the updated balances with an indication of the operating result.
  • In the same accounting file you can set the budget to be able to estimate the financial planning and that relating to costs and revenues thus providing for a future without uncertainties.

 

To find out all the features of double-entry accounting with Banana Accounting, click on the following page: Characteristics.

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