Greetings from Akounto Support!

On the ‘Company Details’ screen, there will be a section 'method of settlement of cash inflow with invoices'.

By default, the method of settlement selected will be FIFO method (A method where the oldest outstanding invoices are settled first when a payment is made).

You can change the method of settlement from FIFO to Manual anytime even if there are transactions linked to invoices or bills.

To change the method of settlement from FIFO to Manual: click 'Edit', change the method of settlement by selecting from the dropdown. Click on 'Update' button, a success message will appear 'Method of settlement updated'.

Now, the method of settlement is updated to Manual method (A method where payments are applied to invoices manually, allowing for specific invoice selection).

You can also change the method of settlement from Manual to FIFO if no transactions are linked to invoices or bills. To change the method of settlement from Manual to FIFO: click ‘Edit', change the method of settlement by selecting from the dropdown. Click on ‘Update' button, a popup will appear ‘Review linked transactions. Please ensure that all transactions linked with invoices and bills have been unlinked’. Click ‘Continue’, if there are no linked transactions, a success message will appear ‘Method of settlement updated’ but if there are linked transactions and you click on ‘Continue’ button, an error message will appear 'You cannot proceed until all transactions are unlinked from invoices and bills. Please unlink them and try again’.

Once you have changed the payment method, make sure to log out from the application and then login again to ensure all the settings are updated.

Navigate to the "Settings" option from the dashboard.

Select "Company Details" from the available options.

In the "Company Details" screen, you will find the option to upload a logo.

If a logo is not already uploaded, you can directly upload it here.

If a logo is already uploaded, it will be displayed, and you'll see options to update it.

To update the logo, click on the "Update Logo" button.

For both uploading and updating the logo, you will have the option to crop the image to ensure the best fit.

While cropping, a preview of the logo will be visible for adjustment.

After adjusting and ensuring the best fit, click on "Save" to save the changes.

You will be able to see the following Business details: Business name, Address line 1, Address line 2, City, Country, State, Post code, Time zone, Contact number, Business currency, Email, Company id, Corporate id number and Vat id. All the details will be auto-populated from the data you have added at the time of Sign up. You can edit and update the address from the business details section by clicking on 'Edit details' button.

Details can be edited by clicking on 'Edit details' button. All the fields except Business currency will be editable. You can also enter or edit the alternate mobile number and the phone code with cancel and Update option. After clicking on Update, a success message will appear "Company updated successfully".

You will be able to see the following User details: Email, Contact number and Password. You can also edit the password by clicking on 'Edit' button adjacent to Password field. First step will be 'Change password': Enter old password, new password and confirm new password. An OTP will be sent to the email address. Next step will be 'OTP verification': Enter the OTP received on the email and click 'Submit'. A success message will appear 'Congratulations! You have successfully set-up your new password!' Click on 'Continue to Sign in'. You have to now sign in using the new password.

Whatever time zone you select, all activity history will be displayed in the same time zone.

To add a new business, go to the "Settings" module and select "Company Details."

Look for the option to "Add New Business" and click on it.

You will be redirected to a "Create a Business" form.

Fill in the required information in the form:
・Business Name
・Type of Organization
・Type of Industry
・Business Country
・ Business Currency
・Select the month and day of the fiscal year ending.

After providing all the necessary details, click on the "Add" button to create and add the new company.

On the ‘Company Details’ screen, there will be a section 'method of accounting'.

By default, the method of accounting selected will be Cash basis (Records revenues and expenses only when cash is received or paid, providing a clear view of actual cash flow.).

You can edit the method of accounting only once from Cash basis to Accrual basis of accounting.

Click on "Edit". Change the method of accounting by selecting from the dropdown and click on "Update".

Now, the method of accounting is updated to Accrual basis (Records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur, giving a more accurate financial picture over time). To further change the accounting method, you need to Contact support by clicking on 'Contact us'.

Navigate to the "Settings" module on the dashboard.

Click on "Company Details."

You'll find various pieces of information on this screen, including:

Logo upload option (if not uploaded, or it will display the existing logo with an option to update)

Company Name

Business Address

Registered email id

Business Currency

Fiscal Year information

Method of Accounting

List of connected businesses in Akounto

You can change existing company info in Akounto with these easy steps:

・Go on Settings → Company Details

・Select the company you would like to edit from the list of the companies which is available at the bottom of the company details page

・Click on Edit button next to the company name you wish to modify

・Edit required values in the form

・Click on ‘Update’ button to save changes

There is a limitation on number of companies you can add based on the subscription plan. You can purchase additional number of companies as an add-on. Please contact our support team for details on pricing.

You can add another company in Akounto with these easy steps:

・Go on Settings → Company Details

・Click on Add new business

・Fill in mandatory information

・Click on ‘Add’ button to add the company

You can add up to 1 additional business under expansion plan under your Akounto account so you can record and track financial information for each of them in one place.