Entries
SME Books organises everything you do into three kinds of record.
Records
Section titled “Records”The things your business refers to over and over: parties (customers and suppliers), items you buy and sell, and taxes. You create these once and reuse them on every transaction.
Transactions
Section titled “Transactions”The things that actually move money or stock: sales invoices, purchase invoices, payments and journal entries. Every submitted transaction posts entries against your chart of accounts.
Reports
Section titled “Reports”The read-only views over what has been posted: the general ledger, profit and loss, balance sheet and trial balance.
Drafts and submitted documents
Section titled “Drafts and submitted documents”Transactions start as drafts. A draft can be edited or deleted freely and posts nothing. Submitting it makes it final and writes the ledger entries. To reverse a submitted document you cancel it, which posts the opposite entries rather than erasing history.