Accountancy; an introduction

Introduction

e-Captain provides, in addition to registering people (members, donors, sponsors, etc.), in making the required invoices to all these persons. E-Captain also has a fully integrated accounting system. You can get started with this but it is not a necessity. From 3 modules of e-Captain you have the accounting automatically at your disposal.

If you want to work with the accounting you will have to make a number of settings. After you have done that, the accounting is free to use for one company, association or foundation.

In e-Captain we work according to the principle of double accounting. e-Captain has the following characteristics as administration:
•Debtors
•Creditors
• Ledger
• Diaries

Debtors
A debtor is a customer who still has to pay. In accounting a person or company that has to pay for delivering goods or a service. In a large company, debtors are dealt with in a special section of the financial administration, the so-called debtor administration that often corresponds to the customer administration. The creditors stand opposite the debtors.

creditors
A creditor (creditor) is a supplier that has to be paid. In accounting a person or company to whom payment must be made for the delivery of goods or a service. Often the term is used to indicate people who have not yet been paid, but in principle the paid suppliers are also creditors. The debtors are standing in front of the creditors.

Ledger
A general ledger account is a collection of identical expense or income, items that are brought together on a schedule. Each type gets an account number (not to be confused with a bank or giro number). This provides insight into the groups of finances that work in a company, association or foundation.

Each list that is created is given a unique number. All these lists together are called the general ledger scheme. For example, there will be many bills for, among other things, purchasing and sales.

Journal: In accounting, a journal is a collection of registered items, which are processed from time to time in the general ledger. In a diary (as the word indicates) is worked daily. Amounts can be registered and processed on a daily basis. From time to time (for example, weekly or monthly) the recorded amounts are processed to the general ledger accounts. If that is the case, the diaries are empty again for new registrations.

Double accounting
By dual accounting is meant the usual accounting system with double entries. Each transaction is entered both in a diary and in a general ledger account. In the bookkeeping, the amounts, by means of a diary, are registered both on the creditors' side and on the debtors side. (diary and ledger)

The result of this technique is that the end result of the bookkeeping necessarily gives the same amount twice. The credit total must be the same as the debit total, both in the journals and in the joint accounts (the general ledger).

Computer programs with an accounting package ensure that every amount only has to be entered once, but the way in which the program registers and sorts the data still comes down to this classic double registration.

The breakdown of the accounts into balance sheet accounts and profit and loss accounts results in a balance sheet and a profit and loss account that, together with any explanations from the treasurer or, for example, the board, constitute the annual accounts.

Working with the e-Captain accounting
In e-Captain the rules of the invoices are automatically placed in the sales book. As a result, your sales book is filled automatically and all sales lines are ready to permanently transfer to the desired general ledger accounts.

Opposite these sales rules (contribution, course, registration fees, donations, sales et cetra) are the payment rules. You will receive these via for example cash payment or received payments by bank or giro.

For example, on the purchase side you will register your materials that you purchase. This can be eg administration course, bar materials and the like. Here you will receive an invoice from your supplier. On the other hand, your payment is due to the supplier.

The payments are entered in the relevant diary. At the cash, bank and giro you can indicate who the payments are coming from or to whom the payments go and you can then choose which invoices have been paid. In this way an invoice (outstanding item) on which an amount is booked is brought to zero (0). The invoice is then registered as paid.