Accounting

All about Accounting

Can I reverse a journal entry?
No. But you can delete the journal entry and recreate the entry.
Mon, 23 Aug, 2021 at 4:45 PM
What is a chart of accounts?
Chart of Accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledge...
Mon, 23 Aug, 2021 at 4:46 PM
How can I add accounts (categories) relevant to my company?
Open has a default setup of a list of pre-defined, commonly used accounts (categories) that are generally used in the accounting world. However, you can alw...
Wed, 25 Aug, 2021 at 12:27 PM
Why is the Chart of Accounts important?
The Chart of Accounts is essential as it offers a clear picture of the business and finances. It is helpful not just for business owners but also for inves...
Mon, 23 Aug, 2021 at 4:49 PM
What’s the use of adding accounts in a Chart of accounts?
By adding accounts (or categories like income, expense, assets, liability and equity), Open automatically categorizes the transactions and helps manage book...
Mon, 23 Aug, 2021 at 4:53 PM
How to switch to Open from a different accounting software?
Glad, you asked! Accounting is crucial for any business. And we’re currently working on this feature. We’ll keep you updated on the same. But if you’re...
Mon, 23 Aug, 2021 at 4:55 PM
Can you sync data from any accounting software to Open?
Yes, you can sync data for Tally entries using Open’s Tally+ feature. Just visit Open’s App Store to the plug-in and transfer all your tally accounting data...
Mon, 23 Aug, 2021 at 4:56 PM