Accounts Settings

In StrideERP, there are multiple account settings available that allow you to control and customize actions within the Accounting module. These settings provide flexibility in restricting and configuring specific functionalities according to your requirements.

1. Pre-requisite

No Pre-requisite required

2. How to access Accounts Settings

To access Accounts Settings go to

Admin > App Settings > Accounts Settings

3. Invoice and Billing

3.1 Invoice Cancellation

3.1.1 Unlink Payment on Cancellation of Invoice

If enabled, the system will remove the link between the payment and the respective invoice. By default, when a Payment Entry is submitted, the linked invoice cannot be canceled unless the Payment Entry is also canceled. With unlinking, you can now cancel and modify the invoices independently. However, the payments will not be linked and will be considered as advance payments.

3.1.2 Delete Accounting and Stock Ledger Entries on deletion of Transaction

Enabling this option will permit the deletion of associated General Ledger and Stock Ledger Entries when invoices and receipts are deleted. This is useful if you wish to retain the document ID after canceling the document. With this option, you can cancel and delete the document to obtain the same document ID again.

3.1.3 Unlink Advance Payment on Cancellation of Order

Like the previous option, this feature detaches any advance payments made in relation to Purchase/Sales Orders.

3.2 Invoicing Features

3.2.1 Check Supplier Invoice Number Uniqueness

If enabled, Purchase Invoices with the same 'Supplier Invoice No' will be restricted, preventing duplicate entries.

3.2.2 Automatically Fetch Payment Terms from Order

Enabling this option will automatically retrieve the Payment Terms from a Purchase/Sales Order and apply them to the linked Purchase/Sales Invoice.

3.2.3 Unenable Common Party Accounting

When enabled, an adjustment Journal Entry will be generated automatically upon creating Sales/Purchase Invoices for a shared Customer or Supplier. For further information, refer to the "Common Party Accounting" section.

3.2.4 Allow multi-currency invoices against single party account

When activated, you can generate invoices in multiple currencies for a single party account using the company's currency.

3.3 Journals

3.3.1 Merge Similar Account Heads

When you enable the "Merge Similar Account Heads" option, rows with the same account heads will be combined or merged on the ledger.

3.4 Report Setting

3.4.1 Use Custom Cash Flow Format

You have the option to utilize Custom Cash Flow Formats to personalize the appearance of the Cash Flow report according to your preferences.

3.5 Deferred Accounting Settings

3.5.1 Book Deferred Entries Based On

You have two options to book deferred revenue: "Days" or "Months". If you choose "Days", the amount will be divided based on the number of days in each month. For example, if you have $12,000 to defer over 12 months, the amount for a 30-day month will be $986.30 and for a 31-day month it will be $1,019.17. If you choose "Months", $1,000 will be booked each month regardless of the number of days.

3.5.2 Automatically Process Deferred Accounting Entry

By default, this setting is turned on, meaning that deferred accounting entries are automatically posted. However, if you prefer not to have the entries posted automatically, you can disable this setting. When disabled, deferred accounting will need to be manually processed using the "Process Deferred Accounting" feature.

3.5.3 Book Deferred Entries Via Journal Entr

By default, Ledger Entries are directly posted to book deferred revenue against an invoice. If you want to book the deferred amount through a Journal Entry instead, you can enable this option.

3.6 Tax Settings

3.6.1 Determine Address Tax Category From

Tax category can be assigned to addresses. Addresses can be categorized as either Shipping or Billing addresses. Determine which address to select when applying the Tax Category.

3.6.2 Automatically Add Taxes and Charges from Item Tax Template

Enabling this option will automatically populate the Taxes table in transactions when an Item with a defined Item Tax Template is selected.

3.6.3 Book Tax Loss on Early Payment Discount

Enabling this option will divide the discount deductions in a Payment Entry into Income Loss and Tax Loss if the corresponding document has an Early Payment Discount set.

3.7 Print Settings

3.7.1 Show Inclusive Tax In Prin

The applied taxes will be shown in the print view.

3.7.2 Show Payment Schedule in Print

The Payment Schedule table is visible on using Payment Terms. Enabling this will show this table in print view.

3.8 Currency Exchange Settings

3.8.1 Allow Stale Exchange Rates

If you want StrideERP to verify the age of records obtained from Currency Exchange in foreign currency transactions, leave this option unchecked. When unchecked, the exchange rate field in documents will be read-only.

The Stale Days setting determines the number of days used to determine if a Currency Exchange record is considered stale. This applies only when the 'Allow Stale Rates' option is disabled. For example, if the Stale Days is set to 10, exchange rates that are 10 days old or less will be considered valid. However, if 'Allow Stale Rates' is enabled, there is no time limit on the age of the exchange rates.

If stale rates are enabled, the order of fetching is:

  • Latest rate from Currency Exchange form
  • If no Currency Exchange is found latest rate as per market is fetched automatically

If stale rates are disabled, the order of fetching is:

  • Latest rate from Currency Exchange form upto number of days set in 'Stale Days'
  • If no Currency Exchange is found Latest rate as per market is fetched automatically

3.9 Payment Reconciliations

3.9.1 Auto Reconcile Payments

4. Credit Limits

4.1 Credit Limit Settings

4.1.1 Over Billing Allowance (%)

The overbilling percentage determines the amount by which you can exceed the original transaction value. For instance, if an item is priced at $100 and the overbilling percentage is set at 10%, you can bill for $110, which is 10% more than the original amount.

4.1.2 Role Allowed to Over Bill

Users assigned with this role have the privilege to exceed the allowed percentage for overbilling.

4.1.3 Role allowed to bypass Credit Limit

Choose the role that has permission to submit transactions surpassing the set credit limits. The credit limit can be specified in the Customer form.

5. POS

5.1 POS Settings

5.1.1. Create Ledger Entries for Change Amount

When selected, for a Point of Sale invoice, the system will generate ledger entries that take into account the change amount provided.

6. Assets

6.1 Asset Settings

6.1.1 Book Asset Depreciation Entry Automatically

If this option is enabled, an automatic asset depreciation entry will be generated starting from the specified initial date. For instance, if the asset has a yearly depreciation and the "Number of Depreciations Booked" is set to 3, depreciation entries will be scheduled for the next 3 years. You can find additional information on the "Asset Depreciation" page.

7. Accounts Closing

7.1 Period Closing Settings

7.1.1 Accounts Frozen Till Date

The "Freeze" feature allows you to specify a date up to which accounting transactions are locked. During this period, no one except the specified Role can create or modify entries.

7.1.2 Role Allowed to Set Frozen Accounts and Edit Frozen Entries

Users assigned with this Role have the authority to designate frozen accounts and are permitted to create or modify accounting entries associated with these frozen accounts.