Accounting
Books that keep themselves.
Every invoice, sale, payment and expense in gitobiz already is an accounting entry. The ledger is read straight from them, so there is nothing to post twice and nothing for the books to drift from.
What it does
- General ledger
- Double entry built from your own documents, with a standard chart of accounts and manual journals for what no document records.
- Profit and loss
- Revenue on the invoice or sale date, net of VAT, with cost of goods in the same month. Readable for the company or one branch.
- Balance sheet
- Cash, receivables, stock, payables, VAT and equity — checked against the operational figures they come from.
- Bank reconciliation
- Tick what has cleared against the statement. A cheque still in transit is shown as in transit, not plugged with an adjustment.
- Daily balance
- Each branch closes the day with income, expenses and the cash carried into tomorrow.
- Budgets
- Spending judged against how far through the period you are, so a warning arrives while there is time to act.
- Recurring bills
- Rent, salaries and subscriptions on schedule, waiting for confirmation unless you let them post themselves.
- Year-end close
- Lock a period, close the year into retained earnings, and reopen the latest closed year if something has to change.
Made for Uganda
Built around how business is done here.
- Ugandan shillings throughout, with your financial year starting in July unless you choose otherwise
- Bank, mobile money and till accounts side by side, each with its own balance
- VAT and withholding tax on the balance sheet as the amounts actually owed and held
Can our accountant use it?
Yes. Add them as a user with the Finance role. They get the ledger, reports, reconciliation and VAT, and every change they make is in the audit log like anyone else’s.
We are starting part-way through the year. What about opening balances?
Pick a go-live date and gitobiz suggests opening balances from what it already holds. Adjust them and post; anything that does not balance goes to opening balance equity for you to clear.
Is profit worked out on cash or on accrual?
On accrual: revenue when it is earned, net of VAT, with the cost of the goods sold in the same month. Cash collected is reported separately.
It is all one system
VAT and withholding
VAT counted on the invoice or sale date, standard, zero-rated and exempt kept apart, and the month’s return ready when the month ends and locked once filed. Withholding tax kept as a credit per customer.
VAT and withholding in gitobizInventory management
Stock in every branch from a ledger you can explain: purchase orders, barcodes, stock takes, transfers between branches and weighted-average cost. Import your opening stock from a spreadsheet.
Inventory management in gitobizInvoicing
Quotations, invoices, delivery notes and credit notes in your own layout, priced in UGX. Part payments and withholding tax handled, EFRIS fiscal document numbers recorded and printed, and a QR code on every document.
Invoicing in gitobiz
Your first invoice is ten minutes away.
Create your company, add a product and a customer, and print an invoice with your logo on it. The getting-started guide walks you through every step in order.