Accounting & Bookkeeping

Core Functions and Features:

• Chart of Accounts: Define and organize all account numbers and names (Assets, Liabilities, Equity, Income, Expenses) in a hierarchical structure for easy navigation and reporting.

• General Ledger Management: Record and manage all financial transactions through double-entry bookkeeping.

• Account Balances & Trial Balance: View real-time balances of each account and generate a trial balance to verify that debits and credits are in equilibrium.

• Journal Entries & Transactions: Create, edit, and review manual journal entries for accruals, adjustments, and other specialized transactions.

• Bank & Cash Reconciliation:

  • Bank Statement Import: Import bank statements (CSV, OFX) directly into the module.

  • Mapping Bank Statements to Accounting: Automatically categorize imported transactions based on predefined banking rules.

  • Reconcile Accounts: Match recorded transactions against bank statements to ensure accuracy and flag discrepancies

• Invoice Generation & Accounts Receivable:

  • Customizable Invoice Templates: Design and send professional invoices with your branding.

  • Recurring Invoices & Subscriptions: Automate billing for retainer agreements or subscription-based services.

  • Payment Processing & Tracking: Record payments against invoices, track outstanding balances, and send reminders for overdue invoices.

• Expense Management & Accounts Payable:

  • Expense Categories & Subcategories: Organize company expenses (travel, utilities, supplies) into logical groups.

  • Vendor & Supplier Management: Maintain vendor records, attach bills, and record supplier payments.

  • Purchase Orders & Vendor Payments: Generate POs, convert POs to bills, and record payments made to vendors.

  • Automatic Expense Mapping: Link expenses to appropriate ledger accounts based on configured rules.

• Financial Reporting & Analytics:

  • Income Statement (Profit & Loss): View revenue, cost of goods sold, and expenses to calculate net profit over any period.

  • Balance Sheet Generation: Access a snapshot of assets, liabilities, and equity as of a specific date.

  • Cash Flow Statement: Track cash inflows and outflows from operating, investing, and financing activities.

  • Business Overview Reports: Compare current vs. prior year balances, drill down into detailed account activity, and generate custom summary reports.

  • Budgeting & Forecasting: Set financial targets and compare actual performance against budgeted figures.

• Tax Calculation & Compliance:

  • Sales Tax Tracking: Automatically calculate taxes on invoices and bills; generate tax liability reports to prepare for filings.

  • Tax Mapping Setup: Map different tax rates and jurisdictions to specific products or services.

• Multi-Currency & Multi-Company Support: Record transactions in various currencies, configure exchange rates, and manage books for multiple entities within a single Perfex installation.

• Fixed Asset Management:

  • Asset Registration: Record purchases of tangible and intangible assets.

  • Depreciation Tracking: Set depreciation schedules (straight-line, declining balance) and automatically post periodic depreciation entries.

• Banking Rules & Automatic Categorization: Define rules to classify transactions (e.g., map “Office Supplies” to Office Expense account) and reduce manual coding

• Journal Entry Templates & Recurring Entries: Save frequently used journal entry structures and schedule them to post automatically (e.g., monthly rent, depreciation).

• Transfer & Inter-Account Transactions: Record transfers between bank or cash accounts (e.g., moving funds from checking to savings).

• Inventory & Purchase Mapping Integration: Link purchase orders, purchase invoices, and inventory adjustments to the accounting module for seamless cost tracking.

• Payroll & Payslip Integration: Map payroll expenses (salaries, wages, benefits) into general ledger accounts; generate payslips and record payroll liabilities.

• Dashboard & Customizable Widgets: View key financial KPIs at a glance—cash balance, overdue invoices, profit margins—through configurable dashboard widgets.

• User Authentication & Access Control: Assign granular permissions so that accounting staff can post transactions while maintaining view-only access for other roles.

• Data Import & Export: Import chart of accounts, opening balances, and historical transactions via CSV; export financial reports to PDF, Excel, or CSV for external analysis.

• API Integration for Third-Party Apps: Utilize REST endpoints to push or pull financial data—ideal for integrating payment gateways, e-commerce platforms, or external BI tools.

• Mobile App Support: Access real-time financial summaries and generate reports from mobile devices.

• Data Backup & Recovery: Schedule automated database backups and restore points to safeguard accounting data.

• GDPR Compliance & Audit Trails: Maintain detailed logs of all transaction edits, approvals, and user activities for regulatory compliance and internal audits.

• Customizable Financial Reports: Build tailored reports (e.g., segment-wise profitability, project-based expenses) using a drag-and-drop report builder.

• Multi-Language Support: Display module labels and reports in different languages to accommodate international teams.

• Multi-Channel Communication Integration: Link communications (emails, chat logs) directly to invoices or bills for seamless audit trails

By unifying these functions within RR Core Suite’s Accounting & Bookkeeping module eliminates data silos, reduces manual entry errors, and delivers instant insights into your organization’s financial performance—providing a single source of truth for all stakeholders.