Accountant Guide
This guide helps accountants and bookkeepers effectively manage financial operations and reporting in Qvian Suite.
Financial Management Overview
As an accountant, your responsibilities include:
- Managing chart of accounts and account structures
- Recording and categorizing transactions
- Generating financial reports and statements
- Reconciling accounts and ensuring accuracy
- Managing tax preparation and compliance
- Monitoring cash flow and financial health
Chart of Accounts Management
Account Setup and Maintenance
Account Types
- Assets - Cash, inventory, equipment, receivables
- Liabilities - Payables, loans, accrued expenses
- Equity - Owner's equity, retained earnings
- Revenue - Sales, service income, other income
- Expenses - Cost of goods sold, operating expenses
Creating New Accounts
- Navigate to Accounting > Chart of Accounts
- Click "Add New Account"
- Enter account details:
- Account name and description
- Account type and classification
- Parent account for sub-accounts
- Opening balance if applicable
- Save and activate the account
Account Organization
- Use numbering systems for easy identification
- Group related accounts under parent categories
- Maintain consistent naming conventions
- Archive unused accounts rather than deleting
Account Balance Monitoring
Daily Balance Checks
- Review cash accounts for accuracy
- Monitor receivables and payables
- Check inventory valuations and adjustments
- Verify expense allocations and categorizations
Reconciliation Process
- Compare account balances with source documents
- Identify discrepancies and investigate causes
- Make necessary adjustments through journal entries
- Document reconciliation results and findings
Transaction Management
Journal Entries
Manual Journal Entries
- Go to Accounting > Journal Entries
- Click "Create New Entry"
- Enter transaction details:
- Date and reference number
- Description of the transaction
- Account debits and credits
- Amounts and totals
- Review and post the entry
Automated Entries
- Sales transactions automatically create revenue and cash entries
- Purchase orders generate payable and inventory entries
- Payroll processing creates salary and tax entries
- Inventory adjustments update asset and expense accounts
Transaction Categorization
Automatic Categorization
- AI-powered classification of transactions
- Machine learning improves accuracy over time
- Custom rules for specific transaction types
- Manual override capabilities when needed
Manual Review Process
- Review AI suggestions for accuracy
- Adjust categories when necessary
- Train the system by confirming correct classifications
- Monitor accuracy rates and improvements
Financial Reporting
Standard Reports
Balance Sheet
- Assets, liabilities, and equity at specific date
- Current vs. non-current classifications
- Comparative periods for trend analysis
- Custom date ranges and filters
Income Statement (P&L)
- Revenue and expenses for specified period
- Gross profit and operating margins
- Category breakdowns by account type
- Year-over-year comparisons
Cash Flow Statement
- Operating, investing, and financing activities
- Beginning and ending cash balances
- Non-cash transactions and adjustments
- Cash flow trends and projections
Custom Reports
Report Builder
- Select report type and base template
- Choose date ranges and comparison periods
- Add custom filters and groupings
- Include/exclude specific accounts
- Format and export options
Scheduled Reports
- Automated generation on set schedules
- Email delivery to stakeholders
- Multiple formats (PDF, Excel, CSV)
- Custom recipient lists and permissions
Month-End Closing
Closing Process
Pre-Closing Checklist
- Complete all transactions for the month
- Reconcile all bank accounts
- Review and adjust inventory valuations
- Accrue expenses and revenues
- Verify all journal entries are posted
Closing Steps
- Generate trial balance and review for errors
- Make adjusting entries as needed
- Prepare financial statements
- Review variances from budget or prior periods
- Lock the period to prevent changes
Post-Closing Tasks
- Archive monthly data for future reference
- Prepare management reports and analysis
- Update budgets and forecasts
- Communicate results to stakeholders
Reconciliation Procedures
Bank Reconciliation
- Import bank statements or enter manually
- Match transactions with system records
- Identify discrepancies and investigate
- Make adjustments for timing differences
- Document reconciliation results
Account Reconciliation
- Accounts receivable aging and collections
- Inventory counts and valuation adjustments
- Fixed asset depreciation and disposals
- Accrued expenses and payables verification
Tax Preparation
Tax Reporting
Sales Tax Management
- Automatic calculation based on location and product type
- Multiple tax rates for different jurisdictions
- Exemption handling for tax-free sales
- Reporting by period and jurisdiction
Income Tax Preparation
- P&L statements by tax period
- Depreciation schedules for fixed assets
- Expense categorization for deductions
- Supporting documentation compilation
Compliance Monitoring
Regulatory Requirements
- Sales tax filing deadlines and procedures
- Payroll tax reporting and payments
- Income tax estimated payments
- Business license renewals and fees
Audit Preparation
- Document retention policies and procedures
- Transaction documentation and support
- Internal controls and segregation of duties
- Backup and recovery procedures
Advanced Features
Budget Management
Budget Creation
- Set budget periods and categories
- Input budget amounts by account
- Include assumptions and notes
- Review and approve budgets
- Monitor performance against targets
Variance Analysis
- Actual vs. budget comparisons
- Variance explanations and trends
- Forecasting based on current performance
- Budget revisions when circumstances change
Financial Analysis
Key Performance Indicators
- Gross profit margins and trends
- Operating expense ratios
- Cash conversion cycles
- Return on investment metrics
Trend Analysis
- Historical comparisons and patterns
- Seasonal adjustments and forecasting
- Benchmark comparisons with industry standards
- What-if scenarios and modeling
System Administration
User Access and Security
Role-Based Permissions
- View-only access for reports
- Data entry permissions for transactions
- Administrative access for setup changes
- Audit trail maintenance and review
Data Security
- Regular backups and recovery testing
- Access logging and monitoring
- Password policies and requirements
- Data encryption and protection
Integration Management
External Systems
- Bank feeds for automatic transaction import
- Payroll systems for employee cost allocation
- Tax software for filing and compliance
- Inventory systems for cost tracking
Data Synchronization
- Real-time updates between systems
- Error handling and reconciliation
- Data validation and quality checks
- Backup and recovery procedures
Best Practices
Daily Operations
- Review transactions daily for accuracy
- Monitor cash flow and account balances
- Check for errors and unusual activity
- Update records promptly and completely
Monthly Tasks
- Complete reconciliations on schedule
- Generate reports for management review
- Analyze variances and trends
- Plan for month-end closing activities
Year-End Preparation
- Complete year-end adjustments and closing
- Prepare tax documents and filings
- Archive old data and clean up files
- Plan for next year budgets and goals
Getting Help
Resources
- Accounting help documentation and guides
- Video tutorials for complex procedures
- Webinars and training sessions
- Peer support from other accountants
Support Contacts
- Technical issues: Qvian support team
- Accounting questions: Accounting support specialist
- Training needs: Training department
- System problems: IT support
Remember: Accurate financial records are the foundation of business success. Use Qvian Suite's tools to maintain precise records and generate meaningful insights for decision-making.
Next Steps: Review Accounting Features for detailed system capabilities, or check out Financial Reporting for advanced reporting options.