Accounting
The chart of accounts, journal entries, opening balances, books health, currency revaluation and closing periods.
- How Verasol keeps your booksDouble entry, documents that book themselves, a ledger that is never edited, locked periods and an audit trail. The rules behind every number in Verasol.
- Chart of accountsSee every account with its balance, add your own accounts, and choose the default accounts that invoices, bills, payments and payroll post to.
- Journal entriesRecord manual journal entries for accruals, releases and reclassifications, post them to the ledger, and reverse a posted entry that was wrong.
- Opening balancesBring the balances of your previous books into Verasol on the day your books start, each on the screen that owns it, against Opening Balance Equity.
- Books healthEvery night Verasol checks that your books agree with themselves and with your documents. See the result area by area, and run the checks again at any time.
- Foreign-currency revaluationRestate open foreign-currency invoices, bills and bank balances at the month-end closing rate, and book the unrealised exchange gain or loss.
- Close and reopen periodsClose a month when its books are done, so nothing can be booked or changed in it any more, and reopen it with a reason when something has to change.
- Reporting tags and custom fieldsTag invoice, bill and journal lines by cost centre, branch or project to see your figures per tag, and keep extra details on your records with custom fields.
- Compliance calendarSee your VAT, corporate tax, licence and other deadlines on one calendar, add your own dates, and mark each one complete when the work is done.
- CalculatorsQuick UAE answers for VAT, corporate tax, end-of-service gratuity and exchange rates. The calculators never change your books.