Service businesses managing customer invoices, supplier costs and employee expenses.
Service businesses managing customer invoices, supplier costs and employee expenses. Accounting for Small Business gives the team a shared operating record for the work it owns. Link each revenue and expense line to its account and reporting period. Retain supporting receipts and customer terms. Use the separate project-billing product when work-in-progress or revenue recognition needs a project model.
Agree the business entities, identifiers, source documents and responsible people before importing history. Keep the relationship between an old source reference and its new record so the team can investigate later questions without creating duplicate activity.
Assign preparation and review responsibilities explicitly. Protect restricted amounts, bank information and personal details through the underlying permissions. A shared spreadsheet or an emailed document does not expand the recipient’s access to the application.
Retain the original document, relevant date and reason for an exception. A later correction should explain what changed and preserve the earlier result. Where another system owns a posting or payment, keep its verified acknowledgment separate from the request sent to it.
Use the established records and process stages for routine work. Test a representative exception and a repeated command before enabling a schedule or connector. Preserve source identities during imports and keep unresolved external outcomes visible for reconciliation.
Select the authorized entity, time period and relevant business population. Reconcile the report to its supporting records before sharing it. Historical records should remain explainable after a person leaves, a default changes or a connection is replaced.
Keep decisions with the right people · Bring the evidence with the work
Start with the operating model · Configure repeat work carefully
Give reports a clear basis
Same records, same gates. The configuration changes how the process runs for this team.
| Reconciliation Number | Bank Account | Period | Statement Balance | Adjusted Statement Balance |
|---|---|---|---|---|
| BR-88900 | BA-51166 | AP-110 | 430 | 680 |
| BR-66014 | BA-30551 | AP-140 | 640 | 700 |
| BR-60545 | BA-72389 | AP-110 | 260 | 730 |
| BR-16277 | BA-62012 | AP-120 | 650 | 650 |
| BR-89788 | BA-91682 | AP-110 | 110 | 620 |
| BR-27523 | BA-79826 | AP-140 | 960 | 20 |
Controller / CFO: Approve Bills, PaymentsMade, ExpenseClaims, VendorPayees, EmployeePayees and BankReconciliations within authority
Approval waits for the controller / cfo.
Controller / CFO works within the record, field and action scope below.
AP Clerk works within the record, field and action scope below.
AR Clerk works within the record, field and action scope below.
Keep employee expenses and close decisions attached to their supporting records.
Keep a traceable ledger behind daily transactions and financial statements.
Read financial statements with a path back to their source entries.
Follow customer invoices from issue through receipt allocation.
Review supplier bills and payment instructions before releasing money.
Explain the difference between bank activity and posted books.
Every posted JournalEntryLine for a selected account and date range with running balances. The audit-trail report — used at close and at year-end.
All GL accounts for a selected period with opening, debit/credit movement, and closing balances. Drills from summary account down to source JournalEntryLines. The anchor report — every other statement derives from it.
Revenue, COGS, Operating Expenses, Other Income/Expense, Net Income for a date range. Month, QTD, YTD columns with prior-period comparatives.
Click Start now to create your ERP.AI account, then use Proto to configure your chart of accounts, periods, customers, suppliers and bank mappings. Reconcile opening balances and review one invoice, bill and bank statement with the person responsible for your books.
Related questionYes. Receipt allocation lines record how much of a confirmed receipt is applied to each invoice for the same customer, entity and currency. Partial payments leave the correct remaining balance, while excess money stays unapplied until its destination is identified.
Related questionThe AP Clerk prepares the bill and supporting document. An authorized Controller / CFO independently reviews the submitted amount and payment instruction. Changing protected details requires review again; an AP Clerk’s approval-limit field does not grant approval authority.
Related questionAn approved expense claim uses a reviewed employee reimbursement destination for its actual claimant. The payment checks that destination before release and completes reimbursement only when settlement is confirmed. Vendor payments and employee reimbursements keep distinct payee identities.
Related questionRetain the statement balance, add deposits in transit and subtract outstanding checks to explain timing differences. Post authorized fees or interest in the local ledger. The controller approves the reconciliation when adjusted statement and book balances agree.
Related questionKeep the original bank instruction and investigate its outcome before another payment is released. A scheduled or accepted request does not establish clearance. Reconciliation uses the bank’s verified result, preserving the link to the original bill or claim.
Related questionOrdinary posting, imports and background actions all respect the period lock. Use an authorized later-period correction or the recorded reopening procedure. Posted entries remain in history rather than being silently edited after statements have been shared.
Related questionAssign the permitted read-only reporting role. The reviewer can inspect scoped statements and supporting results without editing transactions or tax rates. Report periods, currency and the selected entity remain explicit when results are shared.
Related questionBusinesses that need reliable books without running a group consolidation programme.
Service businesses managing customer invoices, supplier costs and employee expenses.
Businesses reconciling customer receipts, supplier payments and bank accounts.
