SmartBooks Finance & Accountant Guide

Thulo SmartBooks – Accounting & Bookkeeping Module

Audience: Finance, Accountant
Purpose: Daily accounting operations using SmartBooks

Purpose of This Guide

This guide is for finance staff and accountants who use SmartBooks for daily accounting work.

It explains:

• What tasks you perform daily

• The correct order of operations

• What to do monthly

• What NOT to change

This guide assumes SmartBooks is already set up by an Admin.

What Finance Users Typically Do

Finance users are responsible for:

• Recording vendor bills

• Paying bills

• Importing bank transactions

• Matching and reconciling accounts

• Reviewing reports

• Recording adjustments when required

Finance users should not change system settings or mapping.

Daily Workflow Overview

A typical daily or weekly workflow looks like this:

1. Record vendor bills

2. Record bill payments

3. Import bank transactions

4. Match transactions

5. Review balances

Each step is explained below.

Step 1: Work with Vendors and Bills

Add Vendors (If Needed)

Vendors must exist before bills can be recorded.

📄 See: Add a vendor

Add and Approve Bills

Use bills to record amounts payable to vendors.

📄 See: Add new bill and approve

Important:

• Bills must be approved before payment

• Approved bills affect payables and reports

Step 2: Pay Vendor Bills

Bills can be paid using:

• Bank payment

• Credit card (accounting record only)

• Check (recording only in Nepal)

📄 See:

• Pay Bill With Bank Payment or Credit Card

• Pay Bill with Check

Once paid:

• Vendor balances update automatically

• Payment appears in bank or cash accounts

Step 3: Import Bank Transactions

Bank transactions must be imported manually.

📄 See: Banking rules & Import bank transaction

Typical practice:

• Import monthly bank statement

• Review imported transactions

• Do not reconcile immediately

Step 4: Match Bank Transactions

Matching connects imported transactions with existing records.

📄 See: Match bank transaction

You should:

• Match payments to bills

• Match transfers between accounts

• Create expenses if needed

Do not leave unmatched transactions before reconciliation.

Step 5: Record Transfers (If Required)

Use transfers when moving funds between accounts.

📄 See: Record a transfer

Transfers do not affect income or expenses.

Step 6: Reconcile Bank Accounts (Monthly)

Reconciliation confirms SmartBooks matches bank statements.

📄 See: Reconcile an account

Recommended:

• Reconcile monthly

• Reconcile after all transactions are matched

• Do not edit reconciled periods

Step 7: Journal Entries (Use Carefully)

Journal entries are used for:

• Adjustments

• Corrections

• Accruals

📄 See: Create A Journal Entry

⚠️ Do not use journal entries to fix:

• Mapping issues

• Missing bills or payments

Step 8: Review Reports

Finance users should regularly review:

• Income statement

• Expense reports

• Vendor balances

• Bank balances

📄 See:

• Reports

• Calculate gross profit by product in the income statement

Reports are read-only and reflect recorded data.

Monthly Closing Checklist

Before closing a month:

• All bills recorded

• All payments recorded

• Bank transactions imported

• Transactions matched

• Bank accounts reconciled

• Reports reviewed

Nepal-Specific Notes

• Bank feeds are not automatic

• Check printing is not used

• Taxes are recorded, not filed

• SmartBooks does not submit IRD returns

Common Mistakes to Avoid

• Paying bills without approval

• Reconciling without matching

• Editing reconciled transactions

• Using journal entries instead of bills

• Changing settings without admin approval

When to Contact Admin

Contact Admin if:

• Reports look incorrect

• Mapping appears wrong

• Accounts are missing

• You need new permissions

Do not attempt to fix structural issues yourself.

Related Guides

• Getting Started with SmartBooks

• SmartBooks Admin Guide

• Banking and Cash Management

• Reports Overview

End of Finance & Accountant Guide