Books of an sp. z o.o.: journal and trial balance
Where the entries in a company's books in Norman come from, how to review documents waiting to be posted, add a manual entry, correct it with a reversal and read the trial balance.
Updated
An sp. z o.o. keeps its books (księgi rachunkowe) in Norman in złoty, on its own chart of accounts. Norman creates entries from documents, and you review them.
Where the books are
Open Accounting, tab Polish general ledger. There are four views:
- Journal: entries in booking order,
- General ledger accounts: the entries and balance of each account,
- Trial balance: opening balance, debit and credit turnover and closing balance of each account for the chosen period, with totals,
- Chart of accounts: the company's accounts. You can add your own accounts and switch accounts on or off.
You choose the period in From and To. Search entries by description or account number.
Where entries come from
Entries come from domestic sales invoices, approved purchase documents and PLN transactions. Payments only settle receivables and payables.
The source posting status shows how many documents are posted and how many need review, with the reason for each. After you fill in what is missing, click Check and refresh postings.
Foreign purchases, reverse-charge purchases and imports of goods, among others, go to review: for them Norman does not create output and input VAT entries automatically. Each purchase document with Polish VAT must be reviewed before it goes into the JPK_V7. See Purchase documents and input VAT.
Manual entries
- Click Add entry.
- Fill in the Booking date, the debit and credit accounts (Choose account), the Amount (PLN) and the Document and description.
- Save.
You cannot book to an inactive account, into a closed period or before the business start date.
Corrections by reversal
Journal entries are not edited. Correct a wrong manual entry with a reversal: on the entry, click Reverse and enter the Reversal reason. Norman adds the reversing entry and marks the original as reversed. Then add the correct entry. Entries created from documents you correct in the document itself.
CIT from the books
From the books, Norman works out the CIT advances and a draft CIT-8. See CIT in an sp. z o.o.. You can also download the books for your accountant: see Exporting data for your accountant.
What Norman does not do yet
- It has no separate opening balance feature: the opening balance is the sum of the entries before the chosen period.
- It does not close the financial year or prepare the financial statements for the KRS.
- It does not post foreign purchases, reverse charge or imports automatically.
- It does not work out the company's exchange differences.
- The books are in the web app only.
Norman is software: you keep the books in it yourself or with your accountant.