Getting Started with SmartBooks

Thulo SmartBooks – Accounting & Bookkeeping Module

Purpose of This Guide

This guide helps businesses start using Thulo SmartBooks correctly from day one.

It explains:

• What SmartBooks is used for

• What must be configured first

• The correct order of setup

• How SmartBooks fits with other Thulo modules

This guide avoids accounting jargon and focuses on practical setup.

What Is SmartBooks?

SmartBooks is Thulo’s accounting and bookkeeping module.

It helps you:

• Track expenses and bills

• Manage vendors and payments

• Reconcile bank accounts

• Record adjustments and journal entries

• Generate financial reports

SmartBooks does not replace billing or invoicing modules.

It records and organizes accounting data generated from other Thulo modules.

How SmartBooks Fits in Thulo Platform

SmartBooks works alongside other Thulo modules.

• Billing / Invoicing
  → Creates invoices and sales records
  → SmartBooks records accounting entries

• Inventory / Operations
  → Generates stock and cost movements
  → SmartBooks records valuation and adjustments

• HR / Payroll (if enabled)
  → Generates payslip data
  → SmartBooks records payroll expenses

SmartBooks does not change how billing works.
It only records the accounting side.

Who Should Use SmartBooks?

Typical users include:

• Business owners

• Accountants or finance staff

• Admin users managing setup

Staff with limited roles may only:

• View reports

• Enter basic data

• Review transactions

Access depends on roles and permissions set by the admin.

Before You Start (Very Important)

Before using SmartBooks daily, make sure:

• Your business billing is already working in Thulo

• You understand basic income vs expense concepts

• You have:

  • Bank statements

  • Vendor list

  • Opening balances (if migrating)

⚠️ Do not start recording transactions before completing setup.

Step 1: Mandatory Initial Setup (Do This First)

These settings must be completed once before daily use.

1. General Accounting Settings

• Financial year start

• Tax year start

• Accounting method (Cash or Accrual)

• Chart of Accounts display options

📄 See: General Accounting Settings

2. Chart of Accounts

• Review default accounts

• Add missing accounts if needed

• Do not delete accounts used by the system

📄 See: Chart of Accounts

3. Mapping Setup (Critical Step)

Mapping tells SmartBooks where amounts should go.

You must review:

• Invoice mapping

• Payment mapping

• Expense mapping

• Inventory and asset mapping

📄 See: Mapping Setup

Without correct mapping, reports will be incorrect.

4. Bank Accounts

• Add company bank accounts

• Enter opening balances if applicable

📄 See: Bank Account

Nepal note: Bank feeds are not automatic. Transactions are imported manually.

Step 2: Enter Opening Balances (If Applicable)

If you are migrating from another system:

• Enter opening balances for:

  • Vendors

  • Customers

  • Bank accounts

  • Inventory (if applicable)

📄 See: Opening Balance for Customer and Vendor

This step is usually done once only.

Step 3: Daily Accounting Operations

Once setup is complete, SmartBooks can be used daily for:

• Adding and approving bills

• Recording bill payments (Pay with Bank / Pay with Check)

• Importing and matching bank transactions

• Recording transfers

• Creating journal entries (when required)

Step 4: Monthly Tasks

Recommended monthly activities:

• Import bank statements

• Match transactions

• Reconcile bank accounts

• Review income and expense reports

📄 See: Reconcile an account

Step 5: Reporting and Review

SmartBooks provides reports such as:

• Income statement

• Expense summaries

• Vendor balances

• Budget comparison

• Product-level gross profit (if applicable)

Reports are read-only and do not change data.

Features Not Applicable in Nepal (Important)

Some features are visible but not used in Nepal:

• Automatic bank feeds
  Available only in Europe & North America

• Check printing
  Nepali banks issue pre-printed checks
  SmartBooks records checks for accounting only

These features are documented for completeness.

What SmartBooks Does NOT Do

To avoid confusion:

• SmartBooks does NOT:

  • File taxes

  • Submit IRD reports

  • Process payments

  • Replace billing logic

It focuses on accounting records and reporting.

Where to Go Next

Depending on your role:

• Admin users
  → Review Settings & Mapping guides

• Finance / Accountant users
  → Follow Vendor, Banking, Journal, and Reconciliation KBs

• Business owners
  → Focus on Reports and Monthly Review

Related Guides

• SmartBooks Settings Overview

• Vendor and Bill Management

• Banking and Cash Management

• Reports Overview

End of Getting Started Guide