Runtime Accounts is a modern accounting software to manage book keeping and billing for your business. This article will explain the basics to get you started.
Here is a video tutorial to get you up and running quickly:
To start, you need to create a free trial account. Click here to go to product page and click on ‘Start Free Trial’ or ‘Signup’ link.
Before you start creating voucher entries and invoices, you need to setup your account. When you login for the first time, go to Settings Menu at top and click on ‘Company Info’.
On the Company Info page, enter basic details of your business as follows.
- Business Name, Address and Contact Person.
- GST Registration status and GSTIN, if applicable.
- Books beginning date: Enter the date from which you wish to maintain your books.
Once you have entered the required information, click on ‘Save’ at bottom of the page.
To begin with, you need to add the accounting ledgers pertaining to your business. Go to Settings menu and click on ‘Chart of Accounts’. Some default ledgers like ‘Cash’ are already created for you. To add a new ledger, click on ‘Add Ledger’ button under respective category head.
Opening balances are your prior period closing balances. For e.g., if you are starting your books in from 1st April 2018, you need to enter the closing balances as per your books ending on 31st Mar 2018. Please note that opening balances need to be entered only for Balance Sheet items and not for Profit & Loss and Trading accounts.
The totals on both sides i.e. Liabilities and Assets, should be the same. Make necessary changes and click on ‘Save’ at bottom of the page.
Once you have done the initial setup and created ledgers along-with opening balances, you are ready to start creating vouchers. To create a voucher entry, go to ‘Vouchers’ menu and click on one of the following links to create a new voucher entry.
At any time, you can access live Balance Sheet and Profit & Loss Account at just a click of a button. Go to ‘Reports’ menu and click on ‘Balance Sheet’. Select a date on top-right and click ‘Load’ button to view the Balance Sheet as on a particular date. Similarly, go to ‘Reports’ and click on ‘Profit & Loss Account’ to view the same for desired period. You can also download the statements using the download button and print them using the print button at top right of the report pages.
Ledger Activity and Accounts Books
Under the report menu, you can also view following books:
- ‘Ledgers’: View activity in any ledger account during a selected period
- ‘Day Book’: View activity across all ledgers during a selected period
- ‘Purchase Register’: View all purchases (across multiple purchase accounts), during a selected period
- ‘Sales Register’: View all sales (across multiple sales accounts), during a selected period
- ‘Cash & Bank Book’: View all cash and bank transactions during a selected period
Runtime Accounts is a modern, cloud based, online accounting software. We keep updating it with new features every week. In case you are stuck somewhere or need help, feel free to contact us using the contact us page.