The Simple Accounting Bookkeeping application is designed to help small businesses efficiently manage their financial transactions. It simplifies the process of recording sales, purchases, payments, expenses, and taxes in a straightforward manner.

Key Features

Business Accounting, Invoice, and Inventory Management

Simple Accounting Bookkeeping streamlines your accounting needs by allowing you to:

Send invoices and record purchases.
Manage expenses and track payables and receivables.
The app offers a free trial for 30 days, after which you can purchase a subscription for unlimited transactions.

Input Taxes

The app supports tracking input credits for VAT/GST on purchases and offsetting these against taxes payable on sales.

Inventory Management

For businesses dealing with physical products, inventory tracking is enabled. This feature automatically reduces inventory levels on sales and increases them on purchases. The Profit and Loss module tracks the cost of goods sold and calculates profits accordingly.

Dashboard

The user-friendly dashboard provides a quick overview of:

Sales and purchases for the current month.
Payments received and paid.
Expenses incurred.
Profits earned with summary calculations.
Outstanding payables and receivables.
Current balances in bank and cash accounts.

Sales and Purchases

You can create multiple sales and purchase accounts to classify your transactions by region or product vertical. The app allows you to record sales and purchases with or without creating an invoice. Multiple template options are available for sending invoices, and you can add logos and signatures. Due dates can be set on invoices.

Payments

Record payment transactions when making or receiving payments. The app keeps track of payables and receivables, and payment transactions automatically update your bank and cash balances. Partial payments can be accepted, and advances can be recorded even before issuing invoices.

Taxes

Designed for multiple tax systems like VAT, GST, and Sales Tax, the app identifies taxes paid on purchases for which you receive input credits. These credits can be offset against taxes collected on sales. The app shows net tax payable and records the payment of taxes.

Expenses

Record expenses incurred in cash or on credit. Petty cash expenses can be quickly recorded without needing to refer to a supplier. Payments for credit expenses can also be recorded. The dashboard helps you track major expenses.

Backup and Restore

Link your Dropbox account to the app to backup your data on Dropbox or Google Drive.

Ledger and Journal Entries

View complete ledgers for any account, including clients, suppliers, expenses, cash, bank, and taxes. Complex transactions can be recorded using double-entry accounting principles (credit and debit).

Conclusion

Simple Accounting Bookkeeping is a comprehensive solution for businesses dealing in both services and physical products. Its intuitive interface and robust features make it an ideal choice for managing your financial transactions effectively.