The account functionality in the HugeProfit service helps manage finances efficiently. Adhering to the proper approach in using accounts is key for accurate accounting and avoiding mistakes in financial operations. Below are steps and tips for the correct use of account functionality:

1. Accounts according to your financial structure:

Before starting to use the service, make sure you have created accounts that reflect different aspects of your financial state. For example:

  • Cash: An account for controlling cash in a separate cash register or for the entire store.
  • Bank Cards: Create accounts to track the amount of money on your bank cards.
  • IBAN: An account to track self-employed accounts or business accounts.
  • COD (Cash on Delivery): Default in the system, used for COD transactions.
  • Unpaid: An account to track debts and prepayments.

2. Updating accounts after financial transactions:

After each financial transaction, make the necessary changes to your accounts:

  • Incoming funds: After receiving money into your account (for example, a payment from a client), increase the amount in the corresponding account.
  • Money transfer: Transfer money between accounts if a transfer or payment from another account is needed.

3. Monitoring liabilities:

Use account functionality to track liabilities to clients and suppliers:

  • Unpaid: Track amounts owed to you by clients or that you expect to pay for goods or services.

4. Closing transactions:

After completing a financial transaction or settling a debt, don’t forget to update the account status:

  • COD: After receiving all payments from “COD”, set the account balance to 0 by using the “Transfer between accounts” button and selecting the appropriate account to transfer the funds. Screenshot 1
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Example: If you sent 3 packages worth 1000 UAH each with payment upon receipt, the “COD” account should have only 3000 UAH. If the client has received the packages, paid, and you have received the money, transfer the money from the “COD” account to the account where the money was deposited. For example, if you received cash, transfer it to the “Cash” account; if the funds were received on the Monobank card, transfer them to the “Monobank Card” account.

Proper use of account functionality in the HugeProfit service will help you accurately track your financial status, avoid mistakes, and prevent inconveniences during financial transactions. Regularly update the system data for always accurate reflection of your cash flow.