Accounting: books that fill themselves, taxes ready to remit
Convergence ERP Accounting is a double-entry ledger that your invoices, payments, bills, receipts and shipments post to as they happen. You do not retype anything, and your accountant gets a clean trail instead of a shoebox.
What you get
- Double-entry books posted by every document
- GST and QST, remittance monthly, quarterly or yearly
- Period closing and an activity log
- Bank statement import and reconciliation
- Profit and loss, balance sheet, trial balance, ledger
- Export for your accountant and import from your old system
Books that follow the business
An invoice posts to receivables, sales and the tax accounts; a payment posts to the bank; a receipt, a bill and a shipment post to inventory, payables and the cost of goods sold. A posted entry is never changed or deleted: a mistake is fixed with a reversing entry, so the history is always complete. When you close a period, for example after a tax return, nothing can be posted on or before that date unless you reopen it.
GST and QST
GST at 5% and QST at 9.975% are the default, and the rates and registration numbers are yours to set. The books keep tax collected apart from tax paid on purchases. When it is time to remit, the remittance clears the period against the bank in one entry, the report does not count it again, a period can be remitted only once, and voiding it frees the period. You choose whether you file monthly, quarterly or yearly, and the accounting agent reminds you of the period and the due date.
Bank reconciliation
Read a bank statement file, in the CSV layouts of the Canadian banks or OFX, and the lines are matched to the books by amount and date. The lines that are not in the books are added in one go and remembered as rules for next time, and a line is never added twice. A reconciliation ticks lines against the statement until they add up to its balance, and only the latest one can be undone.
Reports that slice the way you think
Profit and loss, balance sheet, trial balance and the general ledger, for any period or for your fiscal year, which starts in the month you choose. Add your own codes, such as departments, projects or locations, in a hierarchy, and every figure can be cut by code and rolls up, with "no code" shown so the parts add up to the whole.
Your accountant and your history
Export the books and the chart of accounts for your accountant as CSV, IIF, QuickBooks or Sage files. Expense reports are approved by a manager and post to the books with their taxes. If you are moving from another system, a data import brings your customers, products, open invoices, bills, stock and balances against a holding account that nets to zero, and a reconciliation compares your old figures to the books on the cutover date.
Questions
Do I need to know accounting to use it?
No. Sales, purchases and stock post to the books by themselves. Accounting is there when you or your accountant want to look, correct or close a period.
Can I file my GST and QST monthly or yearly?
Yes. You choose monthly, quarterly or yearly in the accounting settings, and the accounting agent follows the period and the due date you chose.
Can I give my accountant the books?
Yes. You can export the entries and the chart of accounts as CSV, IIF, QuickBooks or Sage files.
What if I need to correct something in a closed month?
The books of a closed month never move. A correction is posted in the open period, and the document keeps what it was.
Can I come from another accounting system?
Yes. A data import with a preview that writes nothing, and a cutover import for open invoices, bills, stock and balances, can be undone as a whole batch.
The other modules
Try it with your own data
Free for 14 days, no credit card.