Frequently Asked Questions

Open Settings in the Quick Menu and specify your company information and features that you require. Address and phone data will be used on printed documents like sales invoices and purchase orders. You can also upload your company logo in the Logo section that will be placed on orders, invoices and receipts. In Inventory settings, check the Item Receipt checkbox if your company wishes to use the Item Receipt document. This document records the receipt of goods purchased and updates inventory. If your company manufactures items and will use the app’s Assembly features, check the Assembly checkbox.
With the help of lists, you can customise field list values for various sections. You set up commonly used values to be able to choose variants from drop-down lists when using Rise Accounting.
Use custom fields in the Settings. Fill in the fields with attributes you want to assign to customer, address or item objects.
Yes, use the Integrations section in the Settings and fill in the field with your API key.
You can customise the print forms in the Print form setup section. Choose elements to print on the form, adding terms and notes and customise the footer with three sections that can hold either images or text.
Use the VAT section in the Settings.
Here you can choose the tax system, set up default values for sales VAT and purchase VAT, specify if your prices should include or exclude VAT.
You should also set up your tax reporting frequency and tax period end month, specify your tax control and tax provision accounts in this section.
To create a new account in the Chart of Accounts, navigate to Accounting → Chart of Accounts.
Click Import.
You can import the Chart of Accounts from file, or create it from template.
If you choose to create it from a template, the Chart of Accounts entry opens.
Enter a name for the new account in the Description field.
Choose an Account Type.
Enter an Account Code or leave this field blank to let the system assign a code for you.
Click Save and Close to finish.
To edit existing accounts, right-click an account and choose Edit. After editing your data,
click Save and Close to finish.
To connect your bank accounts with Rise Accounting, do the following steps:
Navigate to Bank → Bank File Import
Select the Bank Account ledger on the top of the screen.
Select “Upload” on the top right.
A dialogue box will open. Browse to where the bank file is located and select the file then click on “OK”.
Your transactions will then appear on the screen. You can then select from the General Ledger Accounts, Customer or Supplier Accounts.

Standard Accounting has two types of items: Product and Service.

1.1. To create a product item:

Navigate to Inventory → Item, click Create.

Enter an item code (product number, SKU, etc.).

Enter a description for the item.

Choose product in the Item Type field.

Enter the item price. For a more complex pricing structure using Price Levels and/or Categories, use the Price Matrix.

Enter the item cost.

Enter an item category. Item Categories are used to group items for pricing reporting and organization.

If the item is taxable, check the Taxable checkbox. See sales tax for more information on calculating and tracking sales taxes.

Click the Setup tab.

Choose a

-       Costing method

-       Default expense and sales accounts

-       Re-order point

-       Number of decimals to use in pricing and

-       UPC (all optional)

Check the Assembly 1 box if this item is the final product that your company produces, and if the inventory and raw materials for this product will be managed in the system.  See Assemblies for more information on this feature.

Check Has Residuals to track residuals produced as a part of the assembly process.

Check Has Labour if the Bill of Materials will include service items like labour.

Complete the Bill of Materials.

Check the Taxable checkbox if this item is taxable.

Check Discount is Taxable to calculate taxes before discount is applied.

Check Has Lots/SN if you will be tracking lots and/or serial numbers on this item.

Click the UoM (Unit of Measure) tab to set up the units of measure for this item (each box, crate, case, etc.)

Click Save and Close

2.2. To create a service item:

Navigate to Inventory –> Item

Click Create

Enter an Item Code (product number, SKU, etc.)

Enter a Description for the item

Choose Service in the Item Type field

Enter the item Price. For a more complex pricing structure using Price Levels and/or Categories use the Price Matrix

Enter the Item Cost

Enter an Item Category (optional)

Click the Setup tab.

Choose default

-       Expense Sales account

-       Cost of Goods Sold account

-       Number of decimals to use in pricing (see pricing precision)

-       UPC (all optional). 

Remember to use two decimal points if your Unit of Measure will be a time based unit like hours.

Click the Supplier tab and enter Preferred Supplier Code and Description. 

These values will appear in Purchase Orders created for this item (optional)

Click the UoM (unit of measure) tab to set up the units of measure for this item (service items typically would have hours, days, weeks, and years)

If custom fields are created for this item, click the Custom Fields tab and enter the required data

Click Save and Close

To add new Customers and Suppliers to Standard Accounting, navigate to Sales and click Companies.

Click Create.

Enter Company Name.

Check Customer and/or Supplier (depending on your choice the list of field changes).

Click on the Financials tab and enter:

-       Payment Terms

-       Default Sales Account

-       Default Expense Account

-       Accounts Receivable account

-       Accounts Payable account

-       Price Level

-       Salesperson

-       Bitcoin address (optional)

Click the Notes tab to enter notes about Customer/Supplier. Click Save.

Click Addresses/Contacts

For each Address/Contact for this Company enter

-       Address/Contact Code (up to 25 alphanumeric characters)

-       Email address

-       Contact person

Check the Default Shipping and/or Default Billing checkboxes if applicable.

Complete the address fields:

-       Address Line 1

-       Address Line 2

-       Address Line 3

-       City

-       Province

-       Country

-       Postal Code

Click the Contact tab.

Enter the

-       Title

-       First Name

-       Middle Name

-       Last Name

-       Area Code

-       Phone

-       Cell

-       Fax

-       Job Title

-       Salesperson (optional).

Add any Notes for this Address/Customer.

Click Save and Close