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Tuesday, 1 May 2012

Accounting Module in Residentsinc.com

The following are the features you can find in the Accounting module of Residents Inc software.


Chart of Accounts – to create any income, expense, asset, liability and equity account heads as needed. Grouping of accounts into sub categories such as Current Asset, Current Liabilities, Income from non residents, etc will provide more clarity.

Opening Balances – to enter opening balances for all accounts as on the date of migration to the BOOKS feature.

General Journal – to record all non cash transactions and any transaction that cannot be entered through the Income tracker and Expense Tracker. Eg: Depreciation on assets, refunds received, writing off bad debts, etc.

Trail Balance – Since all accounting transactions can now be entered (and posted using Double Entry Method) and opening balances are captured, creating a Trail Balance is as simple as clicking a button!

You can also generate Profit & Loss statement and Balance Sheet. 

The entire feature is so intuitive and simple, that accounts can be maintained without any prior accounting knowledge….:-)

To see all the features, Register and log into Residents Inc for a free trial today.


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