Finance
Finance is the cornerstone of every organization.It is required for running all the business operations. Bridgebills helps to manage and analyze the business transactions more effectively with the help of Finance module. .
Submodules of the Finance section are as follows.
Expenses
Expenses are operational costs that are incurred for running a business. These operation costs are created and maintained in this module
Steps to create Expenses
- Step 1
- Go to Finance → Expenses → New Expense
- Step 2
- Enter Vendor Information
Click on "+Add Vendor" and choose the required vendor from the dropdown or create a vendor from the New Vendor option
Mention the Posting date, Tax Type, Payment mode,Customer or Employee, Reference Currency Exchange Rate and Add Attachment if any.
The currency exchange rate column in BridgeBills displays the exchange rate for the currency selected when the vendor was created.
- Step 3
- Enter Expense Account Details
Select an Account from the dropdown or create an account from the New Account option.
Also select type (Goods or Service), Amount and VAT.
More accounts can be added by clicking on Add an Item.
- Step 4
- Summary of Charges and Payment Status
Total amount without VAT and total VAT amount will be displayed.
Enable Auto round off to keep an intact amount with VAT.
- Step 5
- Terms of Service and Saving Options
Notes and terms of service can be added if any, which will be displayed on the print.
Footer option can be used for additional information or notes.
Final step is to click on Save.
Save and new option is available in the dropdown to add a new Expense along with saving the current data.
Clicking on Expenses switches you back to expense list page.
Enter the Expense number, Vendor or Expense date and click on the search option to get the details of Expenses created.
Actions performed
- Edit/Delete (only unapproved expense can be edited/deleted)
- Approve/Disapprove
- Recurring
Note *
Users are provided with a dropdown to navigate between selected submodules.
Apart from the switching option in the dropdown we have also displayed the journal voucher submodule for easier navigation.
The Export Dropdown feature allows users to export the document in Excel.
To add a module to the favourites list, click on star.
Recurring refers to the ability to automate the generation of expenses that occur on a regular basis
Chart Of Accounts
The Chart of Accounts module is used to create and manage the list of accounts that make up the General Ledger in an accounting system.
These accounts are typically categorized into five different types:i.e. Assets, Liability, Equity, Income and Expense.
Steps to create an New Account
- Step 1
- Go to Finances → Chart Of Accounts → New Account
- Step 2
-
Enter Account Details(Assets, Liability, Equity,Income and Expense)
Select the Account Type from the dropdown as per your requirement.
Enter the Account Name, Account Code and Description (if any).
To modify the entered data, click on Clear button.Final step is to click on Save.
Newly created accounts will be displayed in Chart of Accounts list page.
Enter the account name, Account code or Account level and click on the search option to get the details of created accounts.
Actions performed
- Edit
- Delete
Note *
Export option is available to export the data in excel sheet.
To add a module to the favourites list, click on star.
If a transaction is recorded under a particular account, edit or delete option will be disabled.
Journal Voucher
Journal vouchers are created to work directly with the general ledger, to create both debit and credit entries for unique financial transaction.
Steps to create a Journal Voucher.
- Step 1
- Go to Finances → Journal Voucher → Create Journal
- Step 2
- Enter the Voucher Details
Enter Date, Reference, Notes, Currency Exchange Rate, Document, Journal Type.
- Step 3
- Record the transaction entries
Enter the Account, Employee, Description and Amount.
Debit and credit entries need to be recorded and make sure the total amount is zero.
More entries can be recorded by clicking on “Add an Item”.
To modify the entered data, click on Clear button.
Final step is to click on Save. Save and new option is available in the dropdown to add a new Journal voucher along with saving the current data.
Clicking on Journals switches you back to Journals vouchers list page.
Select the period or choose a custom date range filter and then click on the search button to get the details of the created Journal voucher.
Actions performed
- Edit
- Delete
- Approve/Disapprove
Note *
Expense submodule is displayed on top for easier navigation.
The Export Dropdown feature allows users to export the document in Excel and print
To add a module to the favourites list, click on star.
Opening Balance
Opening balance is one of the important module in Bridge Bills.
When the firm is migrating its accounts, the closing balance of the existing firm will become the opening balance in the new firm.
Steps for creation of Opening balance
- Step 1
- Step 2
- Step 3
- Step 4
Mention the migration date
Mention the net debit or net credit balance against the accounts
Enter the available amount in Account receivable and Accounts payable column to enable the Customer and Vendor tab
Final step is save the entered data
Note *
New Accounts can be created by clicking on the new account button.