Characteristics of the Income and Expense Accounting

Banana Income and Expense Accounting application allows you to easily manage income and expenses of your company, even if you do not have accounting knowledge. Ease of use and flexibility make for an intuitive and fast use.

It is ideal for managing the accounting of small companies, associations, independents or for auxiliary accounting of projects or real estate.

Even if you don't use professional double-entry accounting, you can still get professional printouts and reports because, technically, the program uses the double-entry accounting engine. You can set up the file starting from one of our templates and customize it as you require, without being forced to use rigid schemes that don't allow for modifications.

As with double-entry accounting, you have Balance Sheet and Income statements, Account statements, VAT management, cost and profit centers, segments. It is not possible however, to keep multi-currency accounting.

• ▶ Video: How to start an Income & Expense accounting

Similar to Excel

Excel-like features and commands

• All the data you enter in the tables are always visible and close at hand.
• You work quickly because you can select, copy and paste repeating transactions on multiple cells and multiple rows.
• If you make a mistake, you can correct it by canceling or restoring operations.
• Add as many rows as you want without limits, or delete the rows you don't need.
• If you have made a mistake on a a value, an account, a VAT code, a description, you are able to correct it in a moment with the Search an Replace function.
• You don't need to enter formulas because the calculations are updated immediately and you have a contextual view (like in spreadsheets).
• Everything you see can be printed or exported to pdf or other formats.
• You can set your company logo to customize the print header.
• The columns are customizable, you can move them by position, add new ones and change their width.
• Work with the format that suits you best.
• Colour the lines to immediately identify the transactions that you need to review or show to the accountant or that need to be completed

Table-based structure

Accounting management is concentrated in two tables, which are used in a similar way to the Excel spreadsheets, but which are already completely set up and programmed with everything needed to keep your accounting quickly and safely:

• Accounts table.
  You can set up all cash, customer, supplier, etc. accounts and enter the opening balances without having to manually post them in the transactions table. You can group multiple accounts together, such as the cash, the bank or the post office in the liquidity group, so you can check the updated balances instantly.
• Categories table.
  In this table you set all the categories for income and expense and; you will thus know all the details of each expense and each income and you will be able to evaluate where you spent the most or which income produced the most profit. As in the Accounts table, you will immediately see all the updated balances and the columns of the incoming and outgoing movements. You know immediately how much you have spent, how much you have collected and the gain you have made.
• Transactions table.
  This is the table where you enter all your daily movements. Many functions can be used for a quick entry of data, from resuming the stored rows, to copying and pasting the same transactions, to resuming repetitive operations up to importing the movements from bank statements.

Additional tables to support additional functionalities can be added.

• Budget table.
  Prepare financial forecasts, with the double-entry method. Complete with liquidity planning, budget and forecast income statement, customer, supplier, investment, project, segments for one or more years.
• VAT codes table.
  Set the required rates and parameters to be used in the Transactions table for the automatic calculation of VAT and the reports to be presented to the tax authorities.
• Items table.
  To set up a list of items to be used for billing. The program keeps track of your income and expenses.
• Free tables.
  To meet further needs.

Quick start with our Templates

Start instantly with one of our templates, without wasting time. You can select one of those listed for your country and for the type of business you run. You can customize it to make it even more adapted for your needs.

• You have an easy start by creating a new file from a template.
• Multiple templates divided by country and type of user, customizable and with user documentation.
• Easy search and use models directly in the program.

Accounting setup

• Freely set the currency for your accounting, you can choose it from a list of world currencies or set freely (cryptocurrencies).
• Freely set an accounting period, over several years if required and not linked to the classic period from 1st January to 31st December.
• Headings and accounting data set in a single dialog, easy to display.
• Enter as many decimals as you want, from 0 to 27 (selected when the accounting) is created .
• You can change the number of accounting decimals during the year without problems.

Multi-lingual

• You are free to choose the language for your accounting when you create your file. 
• Customize the column headers as you wish.
• You can run accounting in multiple languages simultaneously.
• Prints are also customizable in multiple languages.

File and data saving

• All the data is saved in a single file, where you can easily retrieve everything without wasting time.
• A separate file is created for each year. All data refer to the year and there is no confusion.
• Give the file the name you want.
• With a single license you can manage an unlimited number of accounts.
• Data remains in your complete possession.
• Save your data to any media, computer, network, cloud or it can be emailed. You can access it wherever you are.
• Simultaneous access by multiple users, but only one person can open the file being in edited mode.
• Make your accounting more secure by using password protection.

Plan-Execute-Control

Within the same Income and Expense accounting file and the same mode you can equally budget for your future income and expenses, easily putting into practice the powerful Plan - Execute - Control management approach.

Same methodology for various purposes

• If there are imbalances in the transactions, a notification for the difference will be generated.
• Amounts are displayed in the columns in the format used by your computer, without you having to get used to other formats you are not familiar with.
  • Intuitive display of amounts, with positive entry amounts, negative exit amounts
• Reports, Journal, Account cards and other reports with one click.
  • All prints are customizable.
  • Choice of display format.
• Data protection with blockchain technology (patented method) to ensure maximum integrity of your accounting data.

Chart of Accounts

• Customizable Chart of Accounts. Enter as many accounts as you want and a total for groups of your choice.
• The Categories table is also customizable, all the categories you need can be entered.
• In the same Chart of Accounts you can enter transactions as well as your financial forecasts.
• Choose your account ID freely (numeric or alpha-numeric account, up to 256 characters).
• You can freely enter the description of the text for up to 256 characters.
• It is no longer necessary to insert the initial and final balances in the accounting records, enter the balances directly in the Opening column of the Accounts table and only when you use Banana Accounting the first time. In the following years the carryover is automatic.
• Balance, account movement and totals displayed contextually and always updated.
• For each customer, supplier, partner account you have the columns to enter the addresses and other useful data you need.
• Adding other columns for notes, grouping or amounts.
• You do not need to total amounts in the columns, they are automatically updated and correctly calculated.
  You thus have the possibility to create columns with your own data and have very selected details.

Transactions

• You can insert a single transaction, on a single row, or compound transactions on multiple rows, when several accounts are affected.
• When you enter data, already existing texts are suggested. By one click the registration will be filled (auto-completion).
• Immediate reporting of errors and differences, with the possibility of completing them later.
• Store repetitive operations to resume them when they reappear without having to rewrite them.
• Predefined columns columns are available in all the tables and can be displayed at your choice.
• Quantity and price columns, for billing or cost control.
• Auto-numbering of documents with different numbers simultaneously.
• Documents are always at hand, by connecting the digital accounting vouchers (pdf, images) to the files, and open them with a click.
• Enter free texts of up to 256 characters and also on multiple rows.
• Colour the rows to instantly search for the transactions you need to check or correct later, or to report them to the auditor.
• Row formatting to customize the display.
• Adding columns to insert any further information. 
• Save the arrangement of the columns (views) to view the content that is most important to you.
• Contextual information about account balance, differences or errors.
• Before the periodic or year-end closings you can use the Check Accounting functions.You will be able to identify errors between the actual balances (e.g. bank balances provided by the statement, and those of the accounting). You will immediately notice the errors and can correct to have everything matched.
• Movements import:
  • Speeds up entry of transactions by importing data from digital bank statements.
  • You can import transactions in different formats provided by banks.
  • Imported rows can be edited, completed or removed.
  • It also imports invoice data or from other software.

Financial forecasting

• If you need to create a Budget, you can activate the function by adding the Budget table.
• Work without difficulty with the same Income & Expense methodology you are already used to.
• Financial forecasts complete with liquidity plan
• Budget forecasts for the Income & Expense categories.
• If you are looking at making long-term investments you can create the Automatic multi-year projection.
• Create your budget through simple transaction registrations.
• All the features available in accounting:
  • Simple or multi-account transactions.
  • Budget for customers
  • Budget forecast for suppliers, VAT, cost and profit centers, segments.
  • Quantity and prices.
• Calculation formulas in Javascript with access to the values ​​of the current forecast:
  • Turnover growth plan.
  • Calculation of commissions and costs in percentages of sales.
  • Depreciation calculation.
  • Interest calculation.
  • Use of variables.
• Forecast values ​​available in accounting printouts:
  • Fully customizable.
  • Forecast views by month, quarter, semester, year.
  • Compare forecast and current.
• Account card with forecast movements by account or group.

Cash and economic statement

• Reports with final or Budget data or both, with indication of variations.
• Free arrangement with groups and subgroups.
• Updated results visible directly in the Accounts table.
• Customizable prints:
  • Adding your own logo.
  • Choice of columns to include.
  • Choice of sections to include.
  • Detailed or printout per groups
  • Printouts per single period.
  • Columns divided by period (month, quarter, semester, year).
  • Values from previous year.
  • Comparison prediction value.
  • Columns with subdivision by segment.
  • Added attached notes.
  • Grouping as in the Chart of Accounts or according to your own scheme.
  • Saving composition.
• Tabular report (similar to customizable printouts, but with the data in the table).
• Export to pdf for data conservation and export to other formats for data processing.

Other accounting printouts

• Fully printable content tables or by for selection only.
• Adding your own logo to personalizing documents and prints.
• Journal.
• Account cards with account movements and groups:
  • With accounting or forecast movements.
  • By period.
  • By Account, Group, Cost Center or Segment.
  • Accounting or forecasting data.
  • Customizable column arrangements.
• Export to pdf or other formats.

Charts

• Contextual, at the foot of the table.
• Different layouts.
• Evolution per accounts and groups.
• Accounting values.
• Forecasting.
• Preceding year.
• Choice of chart type.

Further management

The program also allows you to add additional information to the transaction, allowing you to use the same data needed for VAT management, for tracking customers and suppliers, issuing invoices, generating reports for projects or business sectors and to face the various corporate and tax obligations.

VAT management

• The function can be activated at choice (when creating an accounting).
• VAT code table to indicate the different VAT rates and cases.
• All national specifications supported.
• It can also be used to manage other types of sales taxes (eg American sales tax).
• Entering the VAT code.
• VAT reversal functionality (using the VAT code preceded by the minus sign).
• VAT calculation as per net or gross.
• Automatic breakdown and registration on the indicated VAT accounts.
• VAT control reports:
  • By period or complete.
  • With or without movements.
  • Optionally, with totals per rate, VAT code, account.
• National extensions for VAT reporting based on the requirements of the relative tax authorities.

Customer management and control

• Function activated at choice (adding accounts in the Chart of Accounts).
• Checking invoices and customer payments.
• Customer master data set in the Chart of Accounts.
• Create groups and totals for customers in different groups.
• Open invoices per customer or global overview.
• Customer movement account statement and open invoices.
• Automatic reconciliation, open invoices.
• Customer management also available as cost centers (on a cash basis).

Invoices to customers

• Function can be activated at choice (using the invoice number column in the Transaction table)
• Entering invoices directly into the Transactions table.
• Requires setting up the customer database.
• Entering invoice data as normal row of transactions.
• See issue and print invoices to customers.
• Column to indicate quantities and prices.
• With or without VAT.
• Possibility of modification, correction.
• Print a single invoice with a click or several invoices combined.
• Choice of different print layouts.
• Customize the invoice according to your preferences.
• Exports in digital format via extensions.
• Customizable reminders via extensions.
• Customizable customer account statements via extensions.

Supplier management

• Function activated at choice (adding accounts in the Chart of Accounts.
• Supplier database set in the Chart of Accounts.
  Possibility to group suppliers into different groups.
• Invoice and payment to suppliers control .
• Open invoices per supplier or full report.
  Supplier movement account statement and invoices still open.
• Automatic reconciliation, open invoices.

Cost and profit centers

• Function can be activated at choice (adding the cost and profit centers accounts).
• For projects, cost accounting or profitability.
• Setting up cost centers directly in the Chart of Accounts.
• Multi-level grouping.
• Three levels of cost and profit centers.
• Unlimited number of cost centers per level.
• Negative registration (with minus sign).
• Reports such as Balance Sheet and Profit and Loss accounts:
  • Balance constantly updated.
  • Customizable reports.
  • Card of all movements with progressive balance.
  • Contextual chart.

Segments

• Function activated at choice (by adding segment accounts).
• The Balance Sheet and Income statement of one or more business sectors.
• Setting up segments directly in the Accounts or Categories table
• Multi-level grouping.
• Up to 10 segment levels.
• Unlimited number of segments per level.
• Balance constantly updated.
• Reports such as Balance Sheet and Profit and Loss accounts:
  • Customizable reports.
  • Card of all movements with progressive balance.
  • Contextual chart.
• Balance Sheet and Income statement for each segment.

Items table

• For invoices and with integrated warehouse or securities management.
• Linking of the items to the movements of the Transactions table.
• Automatic update of incoming and outgoing movements.
• Initial and final value.
• Adding additional columns.

Control and closure

Error reports and accounting control

• Command to check the accounts.
  The accounting is recalculated instantly, as if all operations were entered again.
• Reports any wrong settings, differences or errors.
• Each report is linked to a help page that explains the causes and suggests the solution.
• Checks if the account balance matches the real one (cash, bank, VAT).
• Possibility to correct.

Transaction protection

• Rows protection.
• Locking of movements entered with digital data certification technology (Bitcoin type).
• Password protection.
• Compliant with legal requirements.
• Sending data to the auditor with the certainty of the impossibility of tampering.
• Unlock movements with date.

Closing and new year

• Automatic procedure to create the new year file.
• Carryover of balances and allocation of profit.
• Work can begin on the new year, even if the previous one has not been closed.
• Command to carry over the closing balances of the previous year.

Exporting and storing data

• Copy and paste directly to and from Excel.
• Export tables to pdf and various other formats.
• Archiving of printouts and accounting data in pdf or other formats.
• Saving the accounting file on any backup device.

Extensions and other features

Adding functionalities

• Adding new functionalities.
• Removing features that are no longer needed.
• Conversion from one accounting type to another:
  • Accounting with or without VAT.
  • Multi-currency accounting or vice versa.
  • From Income/Expense accounting to double-entry or vice versa.

Documents Table

• To store images (company logo) or text documents (for example Javascript programs).

Other additional tables

• Addition of other tables where notes or other information can be entered.
• Tables can be customized by adding columns to them.

Extensions

• Default extensions for various prints and other features.
• Quick search and installation.
• Customizable extensions.
• Automatic update.
• Ability to create and install your own local extensions.

Comprehensive documentation

• Each dialogue and error has its own documentation page accessible in a click.
• Constantly updated documentation.
• FAQ.
• Documentation also available in Pdf format.