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Basmtak Books

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Accounting and journals

The chart of accounts: read it and change it

The list every money movement in your business lands on. How to read the tree, add an account and stop using one.

4 min Read
Accounting and journals

Record a manual journal

For adjustments, corrections and anything without a document. How to write a journal, balance it and post it to the books.

4 min Read
Accounting and journals

Reverse a posted journal

A posted journal is not edited. Its effect is cancelled by a mirror entry that stays on record, then you write the right one.

3 min Read
Accounting and journals

Recurring journals

A journal that repeats, like an accrual or an amortisation instalment. Set it up once and it goes out on time.

4 min Read
Accounting and journals

Prepaid expenses and deferred revenue

Paid a year of insurance or collected a yearly contract up front? Book it on the balance sheet and let it release into expense or revenue month by month.

4 min Read
Accounting and journals

Closing a month and fiscal periods

Once a month is reviewed, close it so figures you handed over cannot change. The difference between close, reopen and lock.

3 min Read
Accounting and journals

Year-end close

At year end one journal moves the result into retained earnings and locks the periods. The checklist, the close and how to reopen.

4 min Read
Accounting and journals

Fixed assets and depreciation

A vehicle, machine or furniture that serves you for years: register it, let depreciation spread its cost over its life, then sell or scrap it at the end.

5 min Read
Accounting and journals

Cost centres: which branch makes money?

Split income and cost across branches, projects or departments, and see where you actually make or lose money.

3 min Read
Accounting and journals

Budgets and budget vs actual

The year's plan month by month for each account, then a report that sets it against what actually happened.

4 min Read
Accounting and journals

Working in foreign currencies

Turn on a second currency, enter its rate and bill in it while your books stay in one currency, with exchange differences worked out for you.

4 min Read
Accounting and journals

Job and project costing

For each villa, contract or bespoke order: what you spent, what you billed and its margin, before it ends rather than after.

5 min Read
Accounting and journals

Payroll journals from Basmtak HR

Choose how payrolls reach the books: automatically, as a draft for review, or by hand when you press the button.

3 min Read

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