Finance and compliance · Lesson 12 of 15

Accounts and the ledger

Read the financial position and its balance check, trace a loan's repayment on Transactions, correct the books with a journal that goes for approval, and set up the Credit Wallet.

About 15 minutes

Key ideas

1

The financial position

Finance shows Assets, what the organization owns; Liabilities, what it owes; and Equity, what's left. The Balance check should read Balanced; if it doesn't, investigate before going further. Owners, admins and branch managers can open Finance.

2

Trace a loan on Transactions

On Transactions, search by the loan number to trace a loan; transactions carry Adili's own references, not the mobile money code. Each repayment reaches the books on both sides: the loan account goes down and the cash lands in the till, here the Head Office Till, while interest is recognized as income.

3

Correct by journal

To correct the books, choose New journal under Journals: debit one account and credit another for the same amount so it reads Balanced, then Save draft and Submit for approval. A second person approves it; you can't approve your own journal. Once posted, a journal can't be deleted; Reverse makes a correction that also needs approval.

4

Credit Wallet

Credit Wallet, under Settings, pays for SMS reminders and credit reports; top up when it runs low. Set a low-balance email, in the example 20,000 shillings, so the team hears in time. Loans themselves are paid from funding accounts such as the till, not from the Credit Wallet.

Practice

Try it in your training organization

  1. 1. Open Finance and read Assets, Liabilities and Equity; confirm the Balance check reads Balanced.
  2. 2. Open Transactions, type your training loan's number in Search reference or party, and find the Loan repayment, Branch cash repayment and Interest recognition rows.
  3. 3. If your organization keeps a full ledger, open Journals → New journal and enter a Description, such as Staff training materials, on credit.
  4. 4. Debit an expense account (in the example, 6330 · Training) 30,000 and credit 2110 · Accounts payable the same amount; when it reads Balanced, choose Save draft, then Submit for approval.
  5. 5. From the user menu open Settings → Credit Wallet, check the Available balance, then choose Change, enter 20000 in Email me below and choose Save.

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