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  • Journal Entry for Cash Transactions

    Journal Entry for Cash Transactions

     Cash flow as cash receipt and cash payment are daily transation in any shops and mostly in the most small businesses. 

    Cash accounts in chart of accounts

    commonly, in chart of accounts in ledger book, you can see cash accounts under Assets directory. and this account will be in transactions in cash operations like cash receipt or cash payments. so more debit on cash account means more cash in assets of businesss.

    Cash account in chart of accounts in iGreen

    How to Post Cash Transactions in Accounting

    To post cash transactions in journal book, you can use double entry or ready form of cash entry. first of all we show you how to post cash receipt and payment in double entry. by using double entry form, all inputing fields are under your control and maybe any mistakes by you recorded and also this method takes more times from you. but in ready form of cash transactions, accounting software will post true format of cash account in debit or credit columns.

    When you get cash from customers, the main cash account in your ledger book will be debit as amount of received cash. and vise versa: When you pay cash to supplier / payable accoutns, main cash account will be credit as amount of paid cash. so general journal vochers of cash transaction will be as below photo.

    Cash Receipt Journal Entry

    In this sample of cash receipt, we received 250$ from Mr. Ali (A Receivable account ). so double entry of this cash transaction will be like below as photo.

    As you can see in this photo, main cash account (Cash on hand) is debit as amount of received cash.

    Journal entry of cash receipt

    Cash Payment Journal Entry

    In this sample of cash payment, we paid 250$ to “Ras Al Khor” (A payable account ). so double entry of this cash transaction will be like below as photo.

    and also you can see in this photo, main cash account (Cash on hand) is credit as amount of paid cash.

    double entry for cash payment to suppliers or payable accounts

    Cash Transactions Entry in Ready Forms

    Ready form are automated form that will entry standard double entry by get amount of cash and name of payer or payee. so you only need to select account of payer or payee in cash receipt of cash payment form. then accounting software will post a standard double entry form instantly. so using automated ready forms are the best option to save time and prevent your accounting from any entry mistakes .

    Cash Receipt entry in software

    In cash receipt form, it is need to select account of payer and input amount of received cash and click on [Save] button

    Cash receipt form in iGreen accounting software

    Cash Payment Entry in Software

    In Cash payment form, it is need to select account of payee and input amount of paid cash and click on [Save] button

    Cash payment form in iGreen accounting software

    To read more about Cash entry in iGreen accounting softeware:

  • Free Accounting Software for Small Business in UAE

    Free Accounting Software for Small Business in UAE

    Although iGreen accounting software is free for personal use, some advanced features in the personal version have been restricted. If you want to utilize the iGreen software as personal financial software, the following parts listed below are available for free:

    • Cash IN
    • Cash Out
    • Expenses entry
    • SOA (Statemant of Account)
    • Cash flow Report
    • Customer and supplier list

    The following parts are restricted in personal version:

    • Sales and Purchase entry
    • Products coding
    • Inventory management
    • Jounral entry
    • Chart of Account (COA)
    • Inventory Report
    • Profit and loss report
    Free Accounting Software for personal use and small Business in UAE

    Therefore, the personal version of iGreen Accounting is limited to tracking cash transactions and personal expenses, while the business version can be used to create invoices and statements.

    Personal Verison of iGreen

    Activating the personal version is as simple as downloading and installing iGreen accounting software. By default, the personal version and its free features are available in the unregistered version of iGreen.

  • Cloud Server for Accounting

    The latest version of iGreen software supports cloud servers of Google, Amazon AWS, … for unlimited company files. No extra setting is need .. you only create a database instance in RDS of Amazon AWS and in iGreen software you will input address of server, user id and password. then iGreen software will create automatically all data tables and it is ready to use anywhere and anytime.

    No need to waste your time and money in physical server maintenance

    in next posts, we will show you about how to create instance in Amazon AWS

  • Free Accounting Software for your shop in Dubai

    Free Accounting Software for your shop in Dubai

    We are excited to announce our new promotion offering free accounting software for shops in Dubai. By simply placing the provided label on the entrance door of your shop, you will be eligible to receive iGreen accounting software at no cost. Take advantage of this opportunity to streamline your business operations and register for the software today.

    Free register of iGreen accounting software

    So, if you are agree to place a label like above, we register iGreen accounting for free. and you will save 3500 AED !.

    Please fill us this form and send your shop location.

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  • Free Accounting Software for Home Use

    Free Accounting Software for Home Use

    Our team is currently developing a personal and free version of iGreen accounting software specifically for home use in the United Arab Emirates. This software is designed to assist individuals in keeping track of their personal records and finances. While it is crucial to keep records of personal finances in Dubai, registering for an accounting software for personal use may not be the best option. Opting for a free accounting software for home use is recommended.

    The free version of iGreen accounting software includes types of vouchers such as:

    • Cash payment for expenses
    • Cash receipt for incomes
    • Expense vouchers
    • Accounts of debtors and creditors

    However, it is important to note that this version does not include commercial vouchers such as invoices, purchases, trading vouchers, and general journal entries.

    Free version of iGreen Accounting doesn’t includes commercial vouchers

    The focus of free version of iGreen software is on personal financial transactions and includes reports of profits and loss.

    Our goal is to make the free version of iGreen accounting software an easy-to-use software that includes time tracking of cash flow.

  • Hotel Management Modules

    Hotel Management Modules

    Hotels are one of the most important businesses in GCC countries and specially in Dubai city of U.A.E. regard to more supports to our users and able them to use iGreen accounting software more. we are working hard to add hotel management forms to iGreen as soon as possible.

    Forms of Hotel Management

    Forms of Hotel Management

    There are many types of forms that is need for hotel management but the most important are:

    • Rooms coding
    • Passengers list
    • Check-in and check-out entry
    • report of current passengers in hotel
    • Report of un-paid passengers in hotel
    • Report of profit

    We will updates blog when the first version will be ready

  • Income Statement

    Income Statement

    Every small business and shop has profit from its sales. when a shop buy an item as purchase price and sell it, so that you should wait for a sales profit. report of sales profit is known and popular near accountant as name of Income statement. Statements of income as net profit and gross profit are survival for any manager. Low income will closed a shop or business and vise versa.

    Net profit = Income – expenses

    Note: sales profit is not always positive and when a sales with price under purchase as clearance event is negative profit as name sales loss

    Sample of purchase and sales of an item

    As in this sample photo, you can see we buy a watch 100AED and sell it as 150AED , so income of this sales is 50AED

    Example of purchase entry in accounting software
    Example of sales entry in accounting software

    Importance of income statement

    Report of low income is a red line warming for account department to inform director manager for a suitable economic decisions. A decision to reduce expenses and increase sales to reach more profits.

    Income statement in iGreen software

    iGreen software calculates income statement as sales profit instantly after any sales entry. you can access to this report from home screen by click on button “INVOICES PROFITS”

    Invoices profits button in iGreen software

    After click on this bottom, you will see a report as below:

    Sales profits report in iGreen software
    Sales profit report

    You can find reports related to income statement as below:

    • Invoice profits
    • Items profit

    All these reports could be run in a selected date

    For example, you can run invoice profits for date of today and it will show you only invoices of today

    Invoice Profits report - iGreen

    Also this report will show you a graph to show how was days profits and which days are the best with top profits. this will give you an easy visual view of profits report.

  • STOCK INVENTORY MANAGEMENT WITH IMEI TRACKING

    STOCK INVENTORY MANAGEMENT WITH IMEI TRACKING

    For any mobile phone store, smartphone inventory management is very important. Some smart phones like iPhone 16 pro, iPhone 15, iPhone 7, iPhone 8, Samsung Ultra 24+, Samsung Note 8 are very expensive and losing such items will be a big loss for business owners. However, an inventory system with imei serial number tracking is a must-have software for any mobile store.

    imei number scanning for inventory control

    Get Started

    At the time of purchase entry, scan IMEI bar-code of all mobile one by one and then click on save. iGreen software will record all IMEI bar-code in high manner. also it alerts you if any IMEI is repeated in invoices or purchases, and it doesn’t allow your data operators to repeat it in mistakes because each IMEI barcode is unique in the rest of world.

    Active IMEI option in purchase entry & invoicing

    Note: In the settings form in the green software, select IMEI in purchase and sale so that it is activated in the invoices (according to the picture below)

    IMEI setting form for mobile shops

    IMEI setting form

    Purchase entry of smartphone with IMEI

    In purchase entry form, you can scan IMEI bar-code of smartphones (as below photo)

    Purchase entry with IMEI scanning in iGreen
    Purchase entry with IMEI scanning

    It is very easy to issue and print invoice of smartphones sales quickly with scanning IMEI barcode if you saved purchase entry with IMEI barcode before.

    Note: When you scan an IMEI barcode, quantity of item will be 1 and you could not change it Because IMEI barcode is unique per one mobile or smartphone in rest of the world

    Invoicing with IMEI Barcode

    Only click on [Invoice] button in central screen of iGreen software and after you select date, and customer, in IMEI column,  (with barcode scanner) scan printed IMEI label on smartphone box. then iGreen software shows information this item and its sales price.

    Issue Invoice with IMEI scanning
    Invoice with IMEI scanning

    Inventory Tracking with IMEI Serial Number

    The green software records all purchases and sales of smartphones along with the IMEI number. The IMEI number for every mobile phone is unique in all parts of the world, like a fingerprint or a human eye scan. In fact, according to an international naming agreement, every mobile phone manufacturer is obliged to register a completely exclusive and non-repeating serial number for each of their phones. Considering this issue, tracking mobile phones using IMEI number is an ideal way to control the inventory of a mobile phone store. and this is important to know IMEI number has been saved in core of central IC of any mobile and it could not been changable. so it is a great way to use it for tracking pourposes.

    How to Track IMEI Serial Number

    To view turnover of any smartphone by IMEI number, please click on top menu and select [ IMEI / SERIAL NO TRACE ]. then you will see a form as below:

    IMEI number tracing of smartphones in iGreen software
    IMEI number tracing

    Stock Inventory Control by IMEI S/N Tracking

    Control of smartphones inventory by IMEI scanning is very easy, to do it just in central screen of iGreen, click on [Inventory report by IMEI] and you will see a form as below:

    Report of Inventory by IMEI number in iGreen accounting
    Report of Inventory by IMEI

    Report mobile store with IMEI S/N

    As you see, it will show you all smartphones that are exist in stores, but it is need to re-check this list with your counting list of paper, bring all smartphones on your desk near barcode scanner and then scan IMEI on their box one by one then iGreen will search that IMEI and if found, it will mark that IMEI in list when you finish all smartphones and then you can see list of iGreen is equal to quantity of smartphones in your shop or not you can see boxes of:

    • [Checked IMEI]
      • IMEI that you scanned and exist in this list
    • [NOT Checked IMEI]
      • IMEI that you didn’t scanned but exist in list of iGreen

    at the end of scanning, click on print to print this report with green marks of checked IMEI smartphones

    Print of Inventory by IMEI number in iGreen accounting software
    Print of Inventory by IMEI
  • Report of Invoices profits

    Report of Invoices profits

    By use unique pricing system of items ( UPSI ) in iGreen software for your business in United Arab Emirates, every item  will be traced by purchase price and sales price exclusively and it will cause to calculate sales profit without any mistake or margin, better than FIFO, LIFO and average profit systems.

    In any shop, sales invoices will show profits of that shop.  so that, more invoices, mean more profits for the shop.

    To have accurate profit report of invoices, iGreen includes a price label system.

    What are price labels in iGreen

    iGreen could mark all items one by one by purchase price and sales price. so that any item has a unique bar-code label. at sales time, you can read purchase price of that item and decide about sales price without confusing with other purchase prices. it means if you buy same model of an item with different prices, iGreen will mark all items with its purchase prices one by one.

    How to mark purchased item with price label

    When you enter purchase vouchers, beside SAVE button, there is an option as “Price label” as it shown in below photo:

    Price barcode option purchase in iGreen accounting
    Price bar-code option purchase

    With put price barcodes on items in shops, then you can issue sales invoices very easy and profit report of your items are very accurate. As you see in below photo, we selected invoices of last week and it wil show us in a last and in a Graph as profit report.

    Profit Report of Invoices in iGreen accounting
    Profit Report of Invoices

    In graph report you can easily recognize the day with the most profits

    Next Link:

  • IMEI Invoices

    IMEI Invoices

    In iGreen software for billing systems, barcode labels with sales price and encrypted digits of the purchase price will be generated easily with only by one click. It is possible to print these types of labels on label papers (Size A4) or barcode label printers like Honeywell. IMEI is a unique number for each mobile phone, whatever smartphone or classic phone has in the rest of the world. you can not find two mobile phones with the same IMEI numbers.

    Print of Inventory by IMEI in iGreen accounting software
    Print of Inventory by IMEI

    Therefore, you can use the IMEI number to sell mobile phones and issue your invoice with it for references of customers, vendors, and your account department.

    iGreen accounting software supports IMEI barcodes very well, therefore you can issue sales invoices and even purchase entry by IMEI scanning and also use it to track see stock inventory.

    How to use IMEI codes in iGreen software

    In the dashboard screen of iGreen software, click on [ITEMS], and in the form [List of Items], please click on the tab [List of items/ services ]

    then select an item and in tab [Base information] , please click on [serial numbers], then you will see list of IMEI codes and serials under parent code of selected item

    List of IMEI codes and Serial numbers in iGreen accounting software

    On the right of this form, you will see a table of saved IMEI and Serials, to add a new IMEI, enter on the left side in the text box of serial no, IMEI 1, IMEI2,… and then click on [ADD] button.

    When you entered all serial numbers, then to save and finalize it, please click on [SAVE] button.

    Important notes

    • Each IMEI code could be used one time only (It is unique for one mobile phone)
    • Each IMEI code will add one quantity in selected products/mobile in stock inventory
    • Each IMEI code could not deleted or edited after it will used in invoices and purchases

    Invoices by IMEI codes for mobile stores

    To issue invoices in iGreen accounting software by IMEI codes, as you see below photo, when you enter the IMEI code by hand or barcode scanner, it will find its mobile phone quickly to ease issuing invoices for mobile shops

    Invoice with IMEI in iGreen accounting
    Invoice with IMEI
  • Adjusting data server

    Adjusting data server

    iGreen accounting software has 3 options for location of accounting data.

    1. On PC or Laptop without network
    2. On other PC or laptop in local network (For registered Users only)
    3. On other PC, laptop in other location by Internet (For registered users only)

    When you install iGreen accounting for the first time, it will install and setup local server automatically. but you can change server of data easily

    Before you adjust server on other server of PC, this PC or server should have SQL server and enabled for remote access.

    when your server is ready. you should have information as below

    1. IP and domain of server
    2. User ID of SQL server
    3.  Password of above user id

    now you have all information that you can adjust server of iGreen accounting software.

    how to adjust server of accounting data

    In dashboard screen of iGreen accounting software, click on top menu and from setting menu click on server. os that, you will see a from as below:

    Server adjusting form in iGreen accounting
    Server adjusting form

    Default Server 1 and Default Server 2 are for local pc, if you want to install iGreen on your laptop with out network or internet.

    in top section , in yellow box, you should enter information of server and then click on [save] button. then iGreen will show you a [Server has been saved] and then it will be closed.

    Now, when you run iGreen again it will create data and financial books on new server in less than a minutes.

    A video – How to adjust server for cloud storage

  • Web Application and Online Accounting Program

    iGreen’s programming team is working on an online web application for administrative and industrial accounting. In this web application, you have the possibility to manage the coding of accounts, goods, services, and the possibility of issuing sales and purchase invoices, issuing documents for receiving cash from customers, and paying and settling accounts with vendors. And you also have easy access to all financial and warehouse reports.
    The style of iGreen web application is being designed in a completely simple and practical way. And you can access and run your accounts from any type of computer, mobile, tablet and with any type of operating system. All you have to do is connect to the internet and get instant access to your account. In iGreen online accounting, you can access it from any city and country.

  • Chart of Accounts

    Core of any accounting system is ledger book. this book contains all accounts and transaction of a business. The list of categorized accounts in the general ledger is called the chart of accounts. All vouchers and journal in double entry accounting applications will use accounts in ledger book. list of accounts could be in a simple list or categorized levels regards to their identity accounting equation.

    Chart of Accounts in iGreen

    In igreen accounting software, the accounts part is displayed as a tree. This display mode makes you have a better imagination of ​​the categories of accounts at a glance.

    As you see in this photo, default main categories of accounts in iGreen accounting is same as international accounting standard:

    • Assets
    • Liabilities
    • Equity
    • Income
    • Cost of Sales
    • Expenses
    • Other Expenses
    Chart of accounts in iGreen accounting

    Advantage of COA in iGreen

    By using igreen accounting, you will experience two main advantages in the chart of accounts section.

    1. Tree display of accounts and a better idea and understanding of the position of accounts and categories
    2. access to unlimited levels of accounts and create and categorize accounts at any number of levels you need

    How to Add New Account

    You can add the new account under the selected category by selecting the desired category and then write the name of the new account and click [SAVE].

    For example, in the image below, we have selected [Accounts Payable] and in the yellow box, the parent of the new account will be [Accounts Payable], so you can write the name of the new account in the orange box under the yellow box.

    Chart of accounts in iGreen accounting software

     

  • Restore Data in iGreen Accounting

    When you are using iGreen software as your accounting application, you can backup and restore data anytime. to learn about how to create backup from your accounting data, please read backup page as its link is at the end of this page. in this page we show you how to restore data from an existing backup file.

    How to Restore Data in iGreen

    In main screen of iGreen accounting software, in top menu, please click on menu “File”, > “Restore Data”

    Restore data from backup file in iGreen accounting software
    Click on “Restore Data”
  • Different types of Accounts and Ledgers

    In this post, we discuss the various types of accounts and ledgers used in accounting. Accounts can be classified into five main categories: assets, liabilities, equity, revenue and expenses.

    • Assets are resources owned by a company that have economic value, such as cash, inventory, and property
    • Liabilities are obligations that a company owes to others, such as loans and accounts payable
    • Equity represents the residual interest in the assets of a company after deducting liabilities
    • Revenue is the income earned by a company from its operations
    • Expenses are the costs incurred by a company in generating revenue.

    Ledgers are used to record financial transactions and are classified into two main types: general ledger and subsidiary ledger.

    • The general ledger: It contains all the accounts used by a company
    • Subsidiary ledger : It contains details of transactions for specific accounts.

    For example, a company may have a subsidiary ledger for accounts receivable, which contains details of all transactions related to customer payments.

    In conclusion, understanding the different types of accounts and ledgers is essential for effective accounting. By properly classifying and recording financial transactions, companies can accurately assess their financial position and make informed decisions.

    here, we aim to extend your knowledge of bookkeeping principles by providing a comprehensive explanation of the sales and purchase ledgers that are kept outside the main ledger. The nominal ledger, which is often referred to as the main ledger, will also be discussed in more detail, along with the various posting mediums that are used. It is important to note that there are five different types of account within the nominal ledger, although entries may be posted freely between them.

    We will begin by discussing the five different types of account within the nominal ledger. These include assets, liabilities, equity, revenue, and expenses. Each of these accounts serves a unique purpose and must be treated differently when recording transactions.

    Moving on, we will delve into the nominal ledger, which is the primary ledger used in bookkeeping. This ledger contains all of the accounts that a business uses to record its financial transactions. It is important to maintain accurate records in the nominal ledger to ensure that financial statements can be prepared accurately.

    The books of prime entry are also an important aspect of bookkeeping. These books are used to record transactions before they are posted to the nominal ledger. The most common books of prime entry include the sales day book, the purchase day book, and the cash book.

    The Nominal journal is another important aspect of bookkeeping. This journal is used to record transactions that cannot be recorded in the books of prime entry. Entries in the nominal journal are then posted to the nominal ledger.

    Finally, we will discuss the sales and purchase ledgers. These ledgers are used to record transactions that are specific to sales and purchases. The purchase day book is used to record all purchases made by a business, while the sales day book is used to record all sales made by a business. These ledgers are important for maintaining accurate records of transactions and ensuring that financial statements can be prepared correctly.

    Overall, it is crucial for businesses to understand the various aspects of bookkeeping in order to maintain accurate financial records. By understanding the five different types of account, the nominal ledger, the books of prime entry, the nominal journal, and the sales and purchase ledgers, businesses can ensure that their financial statements are accurate and reliable.

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  • Easy Search for Accounts in Journal Entry

    In our current project, we are focused on enhancing the user experience of iGreen accounting software by improving the journal entry process. One of the key factors in achieving this goal is the selection of appropriate accounts.

    As we all know, when entering a double entry in bookkeeping, the first step is to select the relevant accounts and then input the corresponding debit and credit amounts. Therefore, we are working to simplify the process of finding and selecting the desired account from the list of accounts available in the software. By doing so, we aim to reduce the time and effort required to find and select the desired account for a journal entry, making the process more efficient and user-friendly.

    List of accounts in iGreen accounting software

    Our efforts in this regard are geared towards providing a seamless and intelligent accounting experience for our users.

    for example, in search box, we type “Hamid” as we have more that one account that includes in its name “Hamid” and smart search in iGreen software will show you results as below:

    Result of search accounts in iGreen software

    So that, you will see this account in its positions in list of account with a tree-view structure to imagine it better