Accounting - United Arab Emirates
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Accounting - United Arab Emirates keeps a full set of double-entry books for each of your stores. Orders, payments, refunds, stock moves, supplier bills and expenses post to the books by themselves, and you can add your own invoices, bills and journal entries. From the same books you get the profit and loss, the balance sheet and the UAE VAT return.
Get Accounting - United Arab Emirates#
Accounting - United Arab Emirates is a paid app. Until you add it, opening Accounting from your desk shows a short summary and a Get Accounting button.
To add it:
- Open Accounting from your desk and click Get Accounting, or open Kartlo Apps and find Accounting - United Arab Emirates.
- Click Get and follow the steps to subscribe.
- Open Accounting again. You now see the Set up your books card.
See Kartlo Apps for how apps are billed.
Set up your books#
Each store keeps its own books. The first time you open Accounting in a store, you set them up.
- Open Accounting from your desk.
- Check the Currency. It comes from your store and cannot be changed later.
- Under Chart of accounts, pick United Arab Emirates: the full UAE chart with UAE VAT taxes, a fiscal position per emirate and the VAT 201 return.
- Click Set up books.
Kartlo selects the UAE chart for you when your store address is in the United Arab Emirates. The UAE VAT taxes and the VAT 201 return only come with this chart.
Find your way around#
Accounting opens on a row of tabs:
| Tab | What it holds |
|---|---|
| Overview | Entries posted this month, drafts waiting, cash and bank balance, the lock date and a setup checklist. |
| Journal entries | Every entry in the books. Create manual entries and reverse posted ones. |
| Customers | Invoices, credit notes, customer payments, matching, aged receivables and the partner ledger. |
| Vendors | Bills, vendor refunds, supplier payments, matching, aged payables and the partner ledger. |
| Reports | Trial balance, general ledger, profit and loss, balance sheet, VAT return, aged balances and stock valuation. |
| Auto-posting | Opening balances, products that need a cost, the auto-posting switch and the posting accounts. |
| Configuration | Chart of accounts, journals, taxes, fiscal positions, payment terms and product categories. |
| Settings | Tax registration number, fiscal year end, lock date and hard lock date. |
Getting your books in order#
The Overview tab shows a checklist. Click Open next to any item to go straight to it.
- Chart of accounts loaded
- Journals created
- Add your tax registration number
- Set a lock date once a period is closed
- Post your first journal entry
If some products have no cost price, or stock moves are waiting for a cost, a warning card appears at the top of the Overview with Enter costs and Open Auto-posting buttons. See Inventory costing.
What posts by itself#
When Auto-posting is on, these events become journal entries without any work from you:
- Payments received and refunds completed on orders.
- Orders delivered and orders cancelled.
- Stock moves, valued at cost. A transfer between two of your stores leaves the sending store at its cost and arrives in the receiving store at that same cost, through Transfers between stores (clearing) in each store.
- Supplier bills, voided supplier bills and supplier payments.
- Expenses paid. Pick a purchase tax on the expense (VAT included or added on top) and the recoverable VAT goes to the input VAT account with that tax's VAT return box, Box 9 for standard-rated expenses.
You choose which account each kind of event lands in under AccountingAuto-postingPosting accounts.
If your subscription ends#
Your books are never deleted. If Accounting is no longer active for the store, the books become read-only and a banner says so. You can still open entries and run reports, but you cannot post or change anything.
New sales keep queuing while the app is off and post once it is back on.