How to add Accounting Setup Details

📍 Navigation Path

Control Panel → Finances → Accounting Setup

🧩 Accounting Setup Sections

The screen contains three sections:

• Accounts Association

• Inventory Setup

• Financial Settings

🧾 Accounts Associations

These fields define how Helix posts different financial scenarios to the Chart of Accounts.

💸 Discount Account

• Ledger used when discounts are applied on invoices.

• Typically mapped to a Discount Allowance / Contra Revenue ledger.

📉 Expense Discount

• Ledger used when a discount is applied on expenses.

• Linked to an expense-related discount account.

🔁 Intercompany

• Ledger used for intercompany-related postings.

• Applicable when transactions occur between entities within the same group.

💰 Refund

• Ledger used when refunds are processed.

• Maps where refunded amounts are posted in the Chart of Accounts.

🤝 Commissions

• Ledger used to record commission-related amounts.

• Commonly linked to an Accounts Payable or Commission Expense ledger.

📦 Inventory Setup

These fields define how inventory-related accounting movements are handled.

🧾 Unbilled Account

• Ledger used to temporarily hold values for inventory that is received but not yet billed.

📊 Cost of Goods Sold (COGS)

• Ledger used to post cost of goods sold when inventory items are issued or sold.

📦 Consignment

• Ledger used for consignment inventory accounting.

• Applied when inventory is received on consignment basis.

🔄 Stock Transfer

• Ledger used when stock is transferred between stores or locations.

⚙️ Financial Settings

These fields control global accounting behavior across the system.

🔁 Automate Ledger Entries

• ON:

  • Invoices and transactions are automatically posted to ledgers

  • Statements of Account can be generated directly

• OFF:

  • Transactions do not hit the ledgers of Chart of Account automatically

  • Journal Vouchers must be reviewed and posted manually

📅 Financial Year Start

• Defines the start month of the financial year

• Used by the system to determine:

  • Financial year boundaries

  • Open vs closed accounting periods

📆 Financial Years Section

This section displays a year-wise view of accounting periods.

Columns shown:

• From – Financial year start date

• To – Financial year end date

• Status

  • Closed – Financial year is locked

  • Open (Click to Close) – Financial year is currently active

⚙️Ledger selection

1. Expand each dropdown section

2. Ensure relevant ledgers are already created in Chart of accounts before selection

3. Select the corresponding Ledger for every listed field

4. Click Save

🔄 Save & Refresh

1. Click Save

2. The system logs you out

3. Log back in for changes to apply

📝 Notes

• All listed fields require ledger selection

• Logout and login is mandatory after saving changes

• Incorrect mappings can impact:

  • Invoice posting

  • Inventory valuation

  • Financial reports

• Finance teams typically complete this setup before go-live