An Account transaction is a financial report that summarizes the account's activity over a specified period by documenting all transactions made. It helps track financial activities, reconcile accounts, and compare balances to ensure the accuracy of recorded amounts. The statement clearly shows whether the account's final balance is a credit or debit, providing a comprehensive view of the account's financial status.
Features of Account Transactions on Riwaa
Always Up-to-Date: Riwaa's accounting system automatically updates account charts and records daily journal entries to ensure accuracy.
Customizable Periods: Generate Account Transactions for any desired time frame.
Accessing Account Transactions
Navigate to: Reports > Financial > Account Transactions.
Select the time period.
Use the account name field to choose an account and view its details.
Information Displayed
Date: The transaction date.
Type: The type of transaction associated with the account (e.g., sale, inventory adjustment).
Reference ID: This varies by transaction type (e.g., invoice number for sales, inventory count number for adjustments).
Entry Number: The number of the manual or automated journal entry.
Account Name: The account selected in the account field.
Debit and Credit Amounts: The transaction value reflected as either a debit or credit.
Description: The journal entry description, if added.
Balance: The account's running balance.
At the bottom of each page, you'll find:
Total for Debit and Credit for all transactions.
Closing Balance of the account.
Exporting Account Transactions
Export statements as PDF or Excel files:
Click Export.
Choose the preferred file format.
Download the file to your device.
Printing Account Transactions
Print statements by exporting them to PDF or Excel first, as direct printing is not available.
Customer and Supplier Account Transactions
Customer Account Transactions:
Select Accounts Receivable from the account field.
Choose the customer's name from the adjacent field.
The statement will display the selected customer's details for the specified period.
Supplier Account Transactions:
Select Accounts Payable from the account field.
Choose the supplier's name from the adjacent field.
The statement will display the selected supplier's details for the specified period.
FAQs
1. How can I add a description to a journal entry from the Account Transactions?
Open the journal entry details by clicking the journal entry number.
Click the three dots on the left and select Edit.
Add the description next to the desired account and click Save.
The description will appear in the Description column in the Account Transactions.
2. Can I delete a manual journal entry from the Account Transactions?
Open the journal entry details by clicking the journal entry number.
Click the three dots on the left and select Delete.
Confirm by clicking Delete again, and the entry will be removed.
3. Why are journal entry numbers not sequential in the Account Transactions?
Journal entry numbers appear based on the selected account's transactions. For example:
Selecting Sales might show entry numbers 112 and 109.
Changing the account to Rental Expenses might show entry 111.
To view sequential journal entries, go to: Accounting > Journal Entries.