Revenue Button
One addition which requires is alongwith Asset, Liability and Equity buttons one more button for Revenue items is also required. This will give space for Income and Expense Heads. Please do improve it with the same. Another thing is provision for multiple entries in the Journal which is now absent.
Thanking you in anticipation,
Muthu
Nonforprofit
You cannot create Groups of Accounts
Accounting Structure
Assets
Liabilities
Equity
Expenses
Income
I’am having to use the equity account to enter income accounts and expenses account and it needs to have collapsible sub accounts to keep the list of accounts short as well
Basically this is a good app
Response from developer
Thank you very much for your support to our app. We are really happy that you like it.
Excellent
Only one request to developer: in the description of the App could please list the order in which year end book closing is to be done i.e. do I create a journal entry of book closing first or do I generate journal entry for the income statement first ; it may seem elementary for those familiar with accounting for someone self taught it can be confusing at times. Thanks...
Great app!
Minus 1 star because there isn't an expense option! Please, please, please make one 🙏🏻. Oh, and the app closes sometimes. Not a huge deal though.
Excellent
The pros and cons
Pros: the app is inexpensive and can function well for a very small business. It can be transferred to pdf or excel spreadsheet. It has functions which make routines transactions quick and easy. It allows you to edit journal entries rather than create a secondary entry for mistakes.
Cons: there isn’t any help button or informational option so you should know a little accounting before get started. There are only 3 account types to select from when creating your COA (assets, equity, and liability), and I’ve not yet figured a practical way to enter revenue or expenses. I’m sure a person with more familiarity could make this work but if you’re new to accounting it maybe quite challenging.
Overall it was a great app to get started tracking my business financials but unless I can figure out a good way to record expenses, it’s not going to be practical.
Response from developer
Hi, thank you very much for your valuable feedback. It is correct that currently account types are categorised into Asset, Equity, and Liability only. All Revenue and Expense accounts should be created under Equity type. Our system will be able to detect the accounts which has revenue and/or expense related names to be used in the generation of Financial Reports, such as Income Statement. Please feel free to contact us if you require any further assistance.
