For accountants: how Lucco Boss keeps the books

1. How a document becomes an entry

The owner or staff create an invoice, quotation or supplier bill on WhatsApp or the web. Boss shows the owner a preview first, and the owner replies 1 to approve, then it posts. The owner approves the document. You come after that: you can review entries in the journal.

2. Double entry, with reports built from the entries

Every entry balances. The trial balance, profit and loss, balance sheet, general ledger and aging are all calculated from the journal. In the demo books every report can be opened down to its entries.

Moving the company's own money between accounts, for example the TNG eWallet or shop cash to the bank, is one transfer entry: Dr Bank, Cr TNG eWallet or shop cash. It is not counted as sales or as an expense. A bank line from the TNG company's own settlement is offered as that transfer, so it is not taken as new income.

3. Voids and corrections keep a record

Once an invoice is issued (sent, part paid or paid), its lines, discount, tax rate, customer and invoice date are locked and cannot be changed. To charge less, issue a Credit Note. To charge more, issue a Debit Note (numbered DN001, DN002 and so on, in its own series). An invoice that has not been paid on can be voided. Voiding, and deleting a manual journal entry, never erase the original: Boss keeps the original entry and records a reversal entry dated that day, with debit and credit swapped, so the two add up to zero and you can see both. The original document and its number stay. A draft can be changed freely.

4. Contra, bad debt and 5 sen rounding

Contra: when a customer is also a supplier, the owner can set the customer's invoice off against their supplier bill. Boss records one journal, Dr payable to the supplier and Cr receivable from the customer, and it is not counted as money received. Removing a contra removes both halves together.

Writing off a bad debt can be done by the owner only, and the reason goes in the remark.

5 sen rounding applies only to cash-only payments in RM at the POS counter. The invoice total stays exact. The day's small differences are recorded in one entry, Dr or Cr 6195 Rounding adjustment.

5. Your controls

Review: you review entries in the journal. A reviewed entry is locked, so the document behind it cannot be changed or voided and a manual entry cannot be reversed. You can reopen it.

Closing the books: the owner or an admin can close the books up to a date, and earlier months cannot be posted to, changed or voided.

Manual journals: you can post your own adjustments, and you correct them by reversing.

6. Tax

Each invoice line can have its own tax code. SST on supplier bills is recorded as cost, because SST has no input tax credit. If a company is not registered for SST, it can say so in Settings, and new invoices then carry no SST and there is no SST-02. SST-02 is worked out from the tax codes on the invoices and can be exported. Exempt sales are also listed in SST-02 Part D, item 18, as one total. Which of 18(a), (b) or (c) it belongs in is for the accountant to decide.

7. Cost of sales and stock

Cost of sales is a switch for each company. New companies have it on. Existing companies can switch it on in Settings, and it only affects invoices made afterwards. When it is on, each invoice posts Dr cost of sales and Cr inventory at the weighted average cost of each item, and stock comes in through purchase orders. A stock take difference goes to 5010 Inventory loss and adjustments, goods returned go back into stock, and opening stock is posted only after you confirm it. Goods sold before the stock arrives use the average cost at that time, and Settings lists those invoices. For a company connected to SQL Account or AutoCount, that software works out the cost and Boss does not post it.

8. Who can get in

The owner invites you by e-mail, and you see that company's books only. There are two levels, Can edit and View only. An invitation is Can edit by default, and the owner can change it to View only. Each company's data is kept apart, so you cannot see your client's other companies. Reports export to CSV.

What is not there yet

• SQL Account and AutoCount link: We are building it and it is not live. Once connected, the real books live in SQL or AutoCount only. Boss is where documents are made and what the owner looks at. What goes across is the document, and the accounting software works out the entries and cost by its own settings.
• e-Invoice (MyInvois): Sent from the web with the Send to MyInvois button. Invoices made on WhatsApp are not sent automatically. A Debit Note cannot be sent to MyInvois yet.

What we would like to hear from you

We especially want to know whether our way of handling stock cost and reversal entries is right. We would also like your view on e-Invoice. Message us on WhatsApp, or reply to the message you were forwarded.