Accounting Applications

In this article

Banana Accounting Plus offers various easy to use and professional applications, inspired by Excel, that allow for instant results.
The accounting Apps use an accounting calculation, planning and reporting engine, based on the Double-entry accounting method and offer several common features.

Income & Expense accounting

  • Cash Manager  (previously Cash Book)
    For management of a single account, with the possibility of classifying income and expenses by category. 
  • Income & Expense accounting.
    To manage comprehensive accounting with various balance sheet accounts and categories, to which income and expenses are attributed.
    This is a simplified mode of use, that doesn't require knowledge about Debit and Credit. There are also Balance Sheet and Income statement reports.

Double-entry accounting

  • Double-entry accounting with or without VAT options
    Comprehensive accounting solution, according to the Double-entry method. Transactions are classified by indicating the Debit and Credit account. The financial statements are complete with Balance Sheet, Income statement, Journal and Account cards.
  • Multi-currency accounting with or without VAT options
    Double-entry accounting offering the possibility to manage accounts in different currencies:
    • Accounts for customers and suppliers, in various currencies.
    • Transaction with current, historical or freely set exchange rate.
    • Invoices in the currency of the customer's account.
    • Balance sheet and account movement in base currency or that of the account in foreign currency.
    • Calculation of unrealized exchange gains and losses (exchange rate differences).

Accounting applications

Invoicing integrated in accounting

  • Invoice entry as normal transaction rows.
  • Columns for different contents, related to invoices.
  • With or without VAT.
  • Ability to edit and correct.
  • Printing of a single invoice or bundling of several invoices via a simple command.
  • Choice of different print print formats available. and customizable.
  • Exports in digital format via Extensions.
  • Customizable recalls and account statements.

VAT management

Any national specifications supported:

  • VAT code table to indicate the different VAT rates and case studies. Any VAT transaction supported.
  • Automated VAT calculation, net or gross..
  • VAT control reports.
  • Electronic transmission of VAT data on the VAT platform of the Swiss Confederation.
  • National extensions for VAT reporting based on the requirements of tax authorities.

Financial Planning

  • For existing companies or startups.
  • Inclusion of budget by means of transactions in budget.
  • Automatic assumption of repetitive expenses or income (rent, wages, bank charges, etc.).
  • Possibility to indicate item code, quantity and price.
  • Javascript calculation formulas to automate the dependent values (calculation of interest on the actual use of a loan).
  • The program automatically sets up financial plans, complete with liquidity planning, balance forecasts, balance sheet and provisional income statement and movements on an account.
  • Automatic financial projections for several years.
  • Choice of display per period.
  • Comparison between Budget and Finalized Balance Sheet.

Features for accounting applications

The various accounting applications provide different functionalities.

These features can be activated or added as per your requirements.
The program is easily applied because, if a feature is not used, it is not activated.

Accounting setup

  • Works in any currency. The currency symbol is chosen from the list or freely set. 
  • Possibility to alter the number of decimals (generally 2), from 0 to 12 decimals to manage crypto-currencies.
  • Accounting period is set freely, either as a calendar year or with a start and end date different from the calendar year.
  • Choice of accounting language.

Files and data saving (similar to Excel)

Applicable to all Banana applications:

  • Create new file starting from preset templates or from own files.
  • The data for an accounting year are saved in one single file.
  • The file can be located on any media, computer, network, cloud or sent by email.
  • Possibility to manage unlimited number of accounting files, of any kind.
  • Data is accessible to multiple users simultaneously, but to one person only when in edit mode.

Chart of Accounts

  • Plan and structure of accounts are fully customizable.
  • Numeric or alpha-numeric account and group number.
  • Possibility to add notes or further columns.
  • Grouping and totals are adaptable and according to any nationally required grouping scheme.
  • Balance, account movement and totals are displayed and updated in real time.
  • Cost and profit centres, for detailed control of costs and revenues of specific activities or projects.
  • Segments for reporting by sector (branch), thanks to Segments.
  • Customer details with monitoring of pending invoices, reminders and account statements.
  • Supplier statements with monitoring of paid and pending invoices.
  • Management of customers and suppliers, also as non-Balance Sheet accounts (with cost centre) for accounting managed with the cash method.
  • Off-Balance sheet accounts.

Transactions

  • Single or collective transactions (on multiple rows).
  • Accrual or cash method.
  • Use of Excel type interface, select, copy and paste, add lines, search and replace.
  • Suggestions, auto-complete and memorization of repetitive operations for faster input.
  • Automatic or customized numbering of documents.
  • Ability to edit data entered, organize or add columns and any other information. 
  • Link to files of receipts in digital format (pdf, images) and opening of documents by a click.
  • Import of data from bank statements:
    • Several formats are supported.
    • Possibility to complete or remove imported operations. 
  • Row colouring.
  • Possibility to have different displays of columns.
  • Contextual information concerning account balance, differences or errors.

Blockchain for data protection

  • Protection of movements entered with digital data certification technology (similar to Bitcoin).
  • Compliance with legal requirements.
  • Transfer of data to auditor with the certainty of impossibility of tampering.

Standard and customized reports:

  • Balance Sheet, Income Statement, Journal, Account cards.
  • Customization and saving of print settings.
  • Export and link data to Excel.

Charts

  • Overview of account evolution.
  • Comparison of Budget and Final Accounts.
  • Real time display while entering.

Check Accounting

  • Check accounting command. In one click, the accounting is recalculated as if all transactions were inserted again.
  • Any erroneous settings, differences or errors will be reported.
  • Each report is linked to a help page that explains the causes and provides the solutions.
  • Possibility to correct anytime.

Year-end closing and Creation of New Year

  • Automatic process for creating new year files, with report of balances and profit or loss.
  • You may start working on the new year, even if you have not closed the previous one.
  • Command to report the final balances when the previous year has been closed.
  • Possibility to add and print year-end notes.
  • Command for archiving all data and printouts in pdf format.

Various

  • Creating new files starting from an existing file.
  • Converting from one accounting type to another, in order to grow and add functionalities.
  • Adding other tables:
    • Items Table
      • Serves to indicate items to be included in invoicing.
        May serve as a small inventory or securities management.
    • Documents Table:
      • To store images (company logo) or text documents (for example Javascript programs).
    • Other tables:
      You can add tables where you may enter notes or other information. Tables can be customized by adding columns to them.

 

XBRL Report

Ability to create instances of XBRL files suitable for different countries.

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