To carry an activity to it's successful conclusion, you must first of all plan it, then implement and constantly check how it's execution proceeds and make the necessary corrections. This methodology is used for all kinds of project managements as well as in business management for any company, that wishes to expand it's business, needs to rent new space, hire staff, buy equipment, materials and much more. All these activities require planning, implementation plans and constant monitoring of the execution process.
Planning-Executing-Checking, a method devised by Banana.ch, is unique and innovative because it includes the financial aspects and not only to the economic ones. Every company, that wants to be successful must not only evaluate it's profitability, but also the availability of liquidity and other means of its own to achieve its objectives without incurring the creation of debt.
Banana Accounting is the first program in the world that makes use of this methodology, by integrating all data into one single file based on the same Chart of Accounts, with no need for any additional tools. At the user's choice, the same file may be used, to either prepare the budget, or keep the accounts or to manage both, allowing for a vision of the past, present and future.
Start - Create the file according to your needs
In order to start your work with this innovative method of Banana Accounting, you create the file during the starting phase: choose your type of accounting and a ready set up template that matches the characteristics closest to your requirements.
This will provide you with a tailor-made accounting, including only the functions you need and without any unnecessary complications.
Start - Customize the file
The Chart of Accounts can be adapted to your needs at any time, by changing descriptions, adding or deleting accounts and groups. The mode of use will always be the same, and therefore other Tables can be easily adapted accordingly.
Entering accounting and forecasting movements
Once the file is created, you can choose to keep the Accounts, Budget, or run both. In Banana Accounting everything occurs in the Transactions table, where the movements relating to the operations carried out are entered, and in the Budget table, where the forecasted movements are entered. You are working in real time and may freely copy, paste and correct the data according to your needs. Data integrity is guaranteed thanks to the blockchain system which, if activated, locks recordings with digital seals.
Both the accounting part and the financial budgeting part are based on the double-entry method: for each revenue, expense, investment or other, the destination and source for and of the financial means are indicated.
This innovative approach is much more efficient, because it allows to account for all the events that are expected in the future, both capital and economic ones. Your efficiency will be enhanced towards using other tools, since data are always in line and no longer need to be imported and / or exported.
Bank statements are made available in electronic format, which makes it possible to automate and speed up their insertion in your accounting, via importing data. Most of the information is automatically retrieved and you just have to check that the data has been imported correctly, completing some information.
All data are updated instantly. Your entire past, present and future situation is at your disposal at a glance. In the Accounts and Categories tables your account balances, the profit and loss and also the estimate values are displayed. In the info window you will have the updated account balance graphs and also the evolution graphs.
Comparison of data will allow you to understand how the business evolves and what steps you need to take to improve the situation if objectives have not been achieved. If certain expenses or revenues have been incorrectly budgeted, it is possible to modify them in the budgeting to run forecasts that are always updated and in line with the financial and economic reality of the company.
Comprehensive professional reports
The reporting and control phase has also been standardized, making the same reports available for the budgeted data, for the final balance and the combination of both, and it is also possible to compare the evolution of the data for a single month, quarter or year. There are various types of reports for tax and or management purposes that are automatically generated from the data entered.
Data can be exported to allow for further analysis with other calculation software, such as Excel.
Banana Accounting equally allows you to program Extensions to automate certain functions or to generate additional reports. Both forecasting and accounting data can be further enhanced in this way.