Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Company - Financial set up options.
Under this setup you can define and set your preferences and requirements related to your General Ledger Items and Finance documents.
Here you will have three relevant sections where all the preferences and requirements pertaining to your General Ledger Items and Finance documents can be set and defined.
Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Company - Financial set up options.
Under this setup you can define and set your preferences and requirements related to your General Ledger Items and Finance documents.
Here you will have three relevant sections where all the preferences and requirements pertaining to your General Ledger Items and Finance documents can be set and defined.
We will start with Basic setup of Finance;
 Expense Location Wise Ledger ControlSelect from the Drop Down list your specific field requirement. Your options are “Not Required”, “Message” or “Stop”. If you are not keeping the expense budget control option as “Not Required” then you can define the way you want the system to populate message when the budget for a particular ledger gets in excess. If you choose message, you will get a warning which you can bypass and continue working. If you choose “Stop”, you won’t be allowed to proceed with any further entry on that ledger.
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 TDS Applicable : Keeping this option “ON” will allow you to adjust TDS, at Receipt /payment level OR When you account for a Bill without actually making / receiving payment.
In many Payments you need to deduct Tax at Source (TDS) and make Net payment after deducting the TDS amount. Also when you account for some Bills, you need to Deduct and Pay TDS irrespective of the fact that you have paid that bill or not. Similarly, your Customer may deduct some TDS on payments made to you or your Bills Accounted for by them.
Generally, these TDS classification entries are not made at the time of making/receiving payments and journals are passed at a later stage which invites errors and omissions.
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 Document Classification : Keeping this option “ON” will allow you to classify your financial documents such as cash vouchers, journals etc. on different criteria’s on the basis of which you can generate and filter your reports. |
 Allow Negative Cash : Keeping this option “ON” will allow you to accept cash transaction even when the cash balance is going negative. |
 Bank Reconciliation StatementSelect the relevant option to choose the Bank Reconciliation method Manual (Old Accounting method to mark clearing date against each entry) Or “Through Bank Statement” (Download bank Statement either directly from Integration or Excel format import and Auto-Reconcile entries).
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 Zoom Level From Fin StatementsSelect the relevant option to choose drill down method of reports to improve the display and visibility of reports. Alignbooks is now providing option to display reports based on location (in case of multiple location) and with further display of data Month-wise. This Location-wise / month-wise display of data will enable Management to analyze and grasp the data in much better way. (in this case select “BranchMonthBreakup”). For display reports based on location only (Select “BranchBreakup”)
Many users just want to see Month-wise figure for various comparison and Self-Consumption (Select “MonthBreakup”).
The other user would also be benefited based on this display to quickly reach out to the desired transaction/voucher (“Ledger”).
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We have completed the basic part of Finance Setup. If you want, you can hide this option by clicking on 
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Now we will explore Ledger Attribute.
Ledger attributes helps you to manage your General Ledger items and generate, gather or filter any extra information or value.
General Ledger attributes will help you to further classify your Ledgers and keep a watch in various ways. To understand this properly let us take some Example :
· Suppose you are in Service Industry and want to keep Track on Travelling Expenses incurred on few clients. You can attribute customer against Travelling Expenses. Whenever you will enter any Travelling Expenses, the System will prompt to enter the Customer Name for which this expense has been incurred. Later you can have analysis of Travelling Expenses as on which client you incurred how much.
· Similarly, if you want to keep track of any Expenses incurred on your employees, you can attribute Employee against that expenses and can have a analysis as on which employee you have incurred how much.
· Likewise you can use these attributes in other ways as per your need and manage to analysis and control your expenses.
 Ledger Attribute
AlignBooks offers you the flexibility to add five extra fields to properly identify specific Ledger attributes. Let us understand how we can create a Ledger attribute.
Required: Click on Required to make the field1 activated.
Allow Blank: Select “Off” if this is a compulsory field whereby unless you put any value in this field, the system will not allow to complete and save a voucher. If it is not a compulsory Field, keep allow blank as “On”.
Caption: Under this field give a Caption for attribute identification, for example, Customer, Employee etc.
Type: Select from the Drop Down menu your specific field requirement. For Example If you select “Customer”, while making entries, when you will come to this input field you will be displayed your list of Customers. If you select “Employee”, List of Employees will be in display. You can also make your own self defined list, if you wish so, select “Self List” from the Drop Down menu. You can also use to input a “Remark”, if you wish so, select “None” from the Drop Down menu. The whole process is intended to increase efficiency in work.
You can repeat the process to add all the remaining fields to meet your requirements.
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We have completed setting Ledger attributes. If you want, you can hide this option by clicking on .
We will now explore Basic Default Ledger options. AlignBooks comes with preloaded chart of accounts and a default mapping for key accounts. If you wish to amend the linkage based on your specific requirements, you can do so.
 Description : Here you see the list of key financial items which you would be using extensively in your day to day transactions. We have identified and mapped these accounts with associated ledgers for your ease and automated working. |
 Ledger : Here you see the list of key ledgers which are mapped to their respective financial items. There is a direct relationship between financial items under description and the associated ledgers. You can change the mapping for the ledgers by selecting a different ledger from drop down menu. |
We have completed setting Basic Default Ledger. If you want, you can hide this option by clicking on .
We will now explore Default GST Ledger options. AlignBooks comes with preloaded chart of accounts and a default mapping for key accounts. If you wish to amend the linkage based on your specific requirements, you can do so.
 Description : Here you see the list of key GST items which you would be using extensively in your day to day transactions. We have identified and mapped these accounts with associated ledgers for your ease and automated working. |
 Ledgers : Here you see the list of key GST ledgers which are mapped to their respective GST items. There is a direct relationship between financial items under description and the associated ledgers. You can change the mapping for the ledgers by selecting a different ledger from drop down menu. |
We have completed setting Default GST Ledger. If you want, you can hide this option by clicking on .
We will now explore Default Employee Ledger options. AlignBooks comes with preloaded chart of accounts and a default mapping for key accounts. If you wish to amend the linkage based on your specific requirements, you can do so.
 Description : Here you see the list of key Employee items which you would be using extensively in your day to day transactions. We have identified and mapped these accounts with associated ledgers for your ease and automated working. |
 Ledgers : Here you see the list of key Employee ledgers which are mapped to their respective Employee items. There is a direct relationship between financial items under description and the associated ledgers. You can change the mapping for the ledgers by selecting a different ledger from drop down menu. |
We will now explore Depreciation Rule to define the depreciation rate for calculating Depreciation for Fixed Assets as per Income Tax Act or Company Act for Straight Line Method / Written Down Value Method.
 Depreciation Rule : Under this Detail Table, let us under stand you can specify the rate of depreciation as per IT Rate and Company Rate for Straight Line Method (SLM) and Written Down Value Method (WDV)
 : Click here to add a Row to the table. : Click here to delete a row from the table.
You can select the ledger of Fixed Asset Nature and mention the Depreciation Rate for each column as applicable.
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We have completed setting Depreciation Rule. If you want, you can hide this option by clicking on .
Save : Click on 
to save the information entered in Financial setup.
We have completed Financial Setup.
We hope you enjoyed this tutorial. Please give us a call for further help. Happy Aligning!
