Accounting

Momentfy keeps a proper double-entry ledger under the hood. Every time a sale is rung up, a refund processed, a bill paid, or a pay run posted, an equal-and-opposite journal entry is created automatically. The Accounting module is where you see and manage those books, plus do the things no ledger does on its own: reconciliations, fixed-asset depreciation, and audits.

The landing page shows the financial vital signs. Four KPIs at the top — Total Assets, Total Liabilities, Total Equity, Net Income MTD — sit next to two health checks that tell you whether the books still balance.

Trial balance balanced

Debits equal credits across every account. If it's off, a manual journal entry or an import is the usual suspect.

A = L + E

The balance sheet equation. If it's off the accounts are structurally wrong; contact support before posting anything else.

Below the KPIs, the A/R and A/P aging summaries show outstanding receivables and payables bucketed by Current, 1–30, 31–60, 61–90, and 90+ days.

The Chart of Accounts is the backbone of the ledger. Every journal entry hits one or more of these accounts.

• Momentfy ships a sensible default chart — you can start using it immediately.
• Filter by Type (Asset, Liability, Equity, Revenue, Expense, Contra variants), Normal Balance (Debit or Credit), Origin (System or Custom), and Active/Inactive status.
• Create a custom account when you need a level of detail Momentfy doesn't ship by default — for example a subsidiary revenue account for a new service line.
• Deactivating an account hides it from the selector without deleting historical entries.

Every transaction lives here. The Source column tells you what created each entry: SALE, INVOICE_ISSUE, INVOICE_PAYMENT, EXPENSE, SUPPLIER_PAYMENT, BILL, GIFT_CARD_ISSUE, CASH_REGISTER_CLOSE, DEPRECIATION, PAYROLL, or MANUAL.

• Expand any entry for the line-by-line breakdown of debits and credits. Both sides must balance.
• Filter by Source and date range.
• Click New Journal Entry to post a manual entry — pick accounts, enter debit and credit amounts, add a description. The Save button is disabled until both sides balance.

When you migrate from another system, Opening Balances is how you seed the ledger with starting amounts.

1. 1Open Accounting → Opening Balances.
2. 2Enter the balance for each account, grouped by Asset, Liability, Equity.
3. 3Any residual difference between debits and credits auto-balances into Owner's Equity — the chart's clean-up account.
4. 4Submit. The balances post as a single journal entry sourced from OPENING_BALANCES.

Bills are what you owe — supplier invoices, utility bills, any money that's due out but not paid yet.

1. 1Open Accounting → Bills and click New Bill.
2. 2Pick the supplier, enter the bill number (the supplier's own reference), issue date, and due date.
3. 3Add line items — description, amount, and the expense account it hits.
4. 4Save as Draft while you check it; move to Open to register the liability.
5. 5Record payments from Sales → Supplier Payments or from the bill detail; the status moves to Partially Paid or Paid automatically.

Draft

Editable, not on the books yet.

Open

Owing; counts toward A/P Aging.

Partially Paid

Some payment received; remainder still in A/P.

Paid

Closed; zero balance.

Voided

Cancelled — reverses any accounting impact.

Big-ticket purchases that you'll use for years — equipment, furniture, vehicles, computers. The Fixed Assets module tracks each one and posts monthly depreciation automatically so your net income isn't hit all at once.

1. 1Open Accounting → Fixed Assets and click New Asset.
2. 2Enter name, category, acquisition date, cost, salvage value, and useful life in months.
3. 3Pick a depreciation method: Straight-line (equal monthly charge) or Declining balance (front-loaded with a declining rate).
4. 4A preview shows the monthly and annual charge plus the book value at end of life.
5. 5Save. A journal entry posts for the asset; monthly depreciation entries auto-post going forward.

Disposing of an asset

When you sell or retire an asset, click Dispose on its row. Enter the disposal date and the proceeds; the system posts the gain or loss against the book value and closes the asset.

Reconciliation is how you prove the ledger matches the bank. Import the bank statement, match each line to a recorded payment, and close the period.

1. 1Open Accounting → Bank Reconciliation and pick a bank account.
2. 2Upload the statement CSV. Map the columns: Date, Description, Reference, and either a signed Amount or separate Debit and Credit columns.
3. 3Momentfy auto-matches rows to recorded payments and expenses within ±7 days by amount.
4. 4Match unmatched lines by hand — click the row, pick the corresponding ledger entry.
5. 5Watch the reconciliation badge: it shows In balance or Out of balance by X so you know where you stand.
6. 6When it's in balance, save the reconciliation for the audit trail.

Every journal entry is hashed in a chain — change anything, even a description, and the chain breaks. The Audit Trail page lets an auditor or an owner re-verify the whole ledger.

• The page shows the row count verified and any hash mismatches.
• Click Re-verify to recompute the chain — takes seconds even on large ledgers.
• Mismatches are rare and usually mean a bug in an import, not tampering — but they flag it for investigation.

Refunds above your approval threshold land here instead of completing immediately. The rule: the team member who raised the refund cannot be the one who approves it.

1. 1Open Accounting → Pending Refunds.
2. 2Review each pending refund: the original sale, the reason, the raiser.
3. 3Approve to release the refund to the client — the sale's refund status completes and the journal entry posts.
4. 4Reject with a reason if the refund shouldn't go through. The original sale stays completed as-is.

• Reconcile monthly. A year of unreconciled statements is a world of pain; 30 days is a coffee.
• Use categories on every expense and bill — category filters make the P&L actually readable.
• Keep manual journal entries rare and annotated. Future-you will thank present-you for the memo.
• Re-run the audit trail after any bulk import or data migration — it's the cheapest guarantee the books are intact.