Reconcile

Each line has a suggested account and GST treatment. Accept or change it to code the line.

Load the coding from your previous system to compare it with OsaBooks's. Where they agree, the coding can become a rule; where they differ, choose which is right. Lines are matched on amount and nearest date.

Rules suggest an account; you confirm it. Higher priority wins, and an account restriction limits a rule to that bank account.

Suggestions for lines no rule recognises. Off until you turn it on, and it shows what it will send before sending anything.

Connect the AI app you already use, such as Claude or ChatGPT, to these books. It reads them and suggests codes, splits and journals for you to check here.

Checks the finished year against the tax rules of the country these books are kept in, using the OpenAccountants guides. A draft for a qualified person to review, not for filing.

Already have coded transactions? Load them and your existing coding becomes the rules. Starting fresh, rules are made from your first coding decisions.

Every change, most recent first, and how to undo it. Changes are recorded with the name entered; names are not verified. The history stays on this computer and is not included in exports.

Invoice payments are matched by invoice number, then recorded allocations, then exact amount and date. Anything less certain is suggested for you to confirm.

What is owed to suppliers. A bill is a draft until approved; approving it books the cost and its GST on the bill date. Match its payment on Reconcile.

Each rental property's year: its schedule, the property manager's statements, and trips made to it in your own vehicle. The owners' returns on Personal year end take their share of what is here.

A person's income tax return (IR3) for a year: what it still needs that these books cannot know, and the return itself, set out as a year-end pack to print or save as a PDF.

Which financial reporting standard an incorporated society or charity uses, and the financial statements for a small society or under Tier 3. Tier 4 is on the Annual report page. This page does not change the books.

The yearly Performance Report for a charity or society reporting on a cash basis (the XRB's Tier 4 standard): what the organisation did, the cash it received and paid, and the notes, ready to be signed. This page does not change the books.

Receipts for gifts of money, with every detail Inland Revenue asks for, so that donors can claim their tax credit. Each is kept for seven years; one that is wrong is cancelled and replaced, never changed.

A club or society's income tax return, worked out from the books in the order of the form. This page does not change the books.

The settlors, the people who can appoint or remove trustees and beneficiaries, and the beneficiaries of a trust or estate. This page does not change the books.

A trust or estate's income tax return, worked out from the books in the order of the form, with the beneficiaries' pages and the trust disclosure information. This page does not change the books.

A company's income tax return and its imputation credit account, worked out from the books in the order of the form. This page does not change the books.

A partnership or look-through company's income tax return, worked out from the books, with each partner or owner's share. This page does not change the books.

Check a bank or card account against its statement: type the ending balance, tick the lines it has cleared, and finish when the difference is nothing. This page does not change any figure.

What is sold, with its usual price and the account a sale is coded to. Writing an invoice line with an item's name fills in the rest. A product with a cost a unit is kept in stock: count it, and the count puts the Inventory account to what is on hand, the difference to cost of goods sold.

Who is paid, each pay run's gross, the PAYG withheld and the super guarantee on it, and when each pay's super is due. A pay run posts the wages and super, and what is owed to the employees, the ATO and the funds.

Hours worked for customers, at a rate. Time not yet invoiced is gathered by customer, and one click drafts the invoice for it, to check and approve on Invoices. An entry posts nothing.

What these books use. Turn a module on and its pages appear in the menu; turn it off and they are only hidden. Nothing in the books changes either way. Most follow the books on their own: a module turns on once the books hold anything for it.

Invoices, bills and bank accounts in another currency keep their own amounts, and count in the books at the rate on their date. When the money arrives or leaves at another rate, the difference is an exchange gain or loss; a bank account in another currency is revalued at each balance date.

Work done for a customer, and what it made. Give a job its invoices, bills and bank lines, here or when you write them, and its profit is what they bring in less what they cost. This page does not change the books.

A second way to cut the profit and loss: by department, location or job. Give a class to a bank line, an invoice or a journal, and everything it posts to income and expense falls under it. The Profit and loss by class report adds them up. This page does not change the books.

Cash, petty cash, or an account with no bank feed: each entry typed in, to one account or split across several, and in the books as it is added.

What each income and expense account is expected to come to in a year. The Budget vs actual report sets it beside what the books hold. This page does not change the books.

Who these books deal with: addresses, emails, terms and credit limits. Invoices and bills find a record by name. A customer with invoices past due can be sent a reminder, or charged a late fee drafted as an invoice for you to approve. Small balances left on invoices can be written off to a bad debts account in one go.

Each grant, what has come in against it, what has been spent and what is left, and the report a funder asks for. This page does not change the books, except for the year-end entry for a grant that has to be returned if unspent.

Each tenancy's rent, rent changes and bond, compared with the rent received, showing whether the tenant is behind or ahead and by how much. This page does not change the books.

Employees, pay runs and payday filing. PAYE, student loan, KiwiSaver and ESCT follow Inland Revenue's payroll specification for each payday's tax year, and each pay run produces the Employment Information file to upload in myIR within two working days of payday.

Record assets to calculate depreciation, and gains or losses on disposal.

Every set of books you can open here.

Each account belongs to one entity; a bank account can serve several. The GST treatment set here is used on the GST returns for anything coded to the account.

The position on the day these books start. Enter bank balances gives each bank account and loan its balance, from a statement on any date or from the bank feed. Where there is more than that – debtors, assets, GST owingloans – import a trial balance from the previous year end.

What Inland Revenue holds, checked against these books: GST returns, any tax account’s transactions, the employer summary, and an IR3’s confirmation. Figures that differ are flagged; figures these books do not hold are listed so they can be entered.