Accounting Applications

Banana Accounting offers various professional applications, inspired by Excel, to manage the accounting.
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 knowing about Debit and Credit. There are however Balance Sheet and income statement reports..

Double-entry accounting

• Double-entry accounting.
  Full comprehensive accounting solution, according to the Double-entry method. Operations 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.
  Double-entry accounting with the possibility of managing accounts in different currencies. 
   

Features for accounting applications

The various accounting applications provide different functionalities - click on the links to learn more:

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

• It supports any currency. Symbols are chosen from 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 as a calendar or freely set (start and end date).
• 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 only one person 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 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.
• Accrual or cash method..
• Use ofExcel type interface, select, copy and paste, add lines, search and replace..
• Suggestions, autocomplete 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, with the 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.. 

VAT management

Any national specification 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.
• National extensions for VAT reporting based on the requirements of tax authorities.

Financial Planning

• For existing companies or startups.
• Inclusion of planning 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 or
• Comparison between Budget and Finalized Balance Sheet.

Invoices to Customers

• Entering invoices as regular rows of transactions.
• Column.
• With or without VAT.
• Possibility to modify or correct.
• Print a single invoice with a click or several invoices simultaneously.
• Choice of different print formats available and parametrizable.
• Export in digital format through extensions.
• Customizable reminders and statements.

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 solution..
• Possibility to correct.

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.

Multi-currency accounting

• Accounts as well as customers and suppliers in different currencies.
• Recording with current, historical or freely set exchange rates.
• Invoices in the client's account currency.
• Balance sheet and Transaction entries in the account's base currency or in account currency.
• Calculation of unrealized exchange gains and losses (exchange rate differences).