Financial management in an organization is very critical. Though the need for maintaining financial books and analysis is common across all enterprises, additional facilities and focus areas may vary from company-to-company and time-to-time. GoodBooks provides all the necessary standard and advanced options with analysis tools for effective management of finance and accounts.

The following are the various sub systems available in GoodBooks financials.

• General Ledger
• Accounts Receivable
• Accounts Payable
• Cash  & Bank
  

GoodBooks Financial module is fully integrated with all the modules including material management modules (Sales, Purchase, Stores, Sub Contract, etc) E.g., when sales department raises an invoice, the corresponding financial entries will be raised automatically. The posting is done in General Ledger and Accounts Receivable. Similarly wherever there is a financial link, GoodBooks automates the transaction posting to financial books.

GoodBooks follows a comprehensive and powerful method of creating and maintaining accounts. The list of accounts necessary for an enterprise can be created and managed easily. GoodBooks supports several options and methods of maintaining these accounts. Understanding the various options available in GoodBooks account management is essential for the best use of this software.

All the accounts in GoodBooks are identified with a Ledger. There are different types of ledgers supported in GoodBooks. These ledgers are classified under a group. The groups are again classified under various schedules.