The Pythonic Accountant has undergone some significant improvements in its latest version. In this article, I will highlight the new features that have been added to the accounting general ledger tool.
Previously, the tool only allowed for recording accounts receivable and the collection of that receivable. However, now it supports a wider range of business events. You can now record the sale, collection, purchase of inventory, payment of salary, payment of accounts payable, and cost of goods sold. Additionally, a new feature has been added to upload and record PDF files as invoices.
Let’s explore some of these new features. To begin, let’s start by purchasing some inventory. The tool allows you to upload PDF files of invoices, which it then reads to determine the sales tax, total amount, and other information about the items. Once the invoice is uploaded, you can record the purchase of inventory.
N
ext, let's take a look at the invoices generated by the tool. The PDF files are well-formatted and provide all the necessary information. This makes it easy to keep track of your purchases.
Now, let's move on to selling some of the inventory. You can specify the amount you want to sell and the cost of goods sold. The tool will record the sale and update the inventory accordingly.
After making a sale, you can collect the receivable amount. This will update your accounts receivable and cash flow.
Finally, let's pay off any accounts payable and settle the remaining cash flow. The tool allows you to record the payment of accounts payable and salary expenses.
Overall, the improvements made to the Pythonic Accountant have made it a powerful tool for managing your finances. It offers a wide range of features and simplifies the recording of various business events. Whether you are a small business owner or an accountant, this tool can greatly streamline your accounting processes.
In conclusion, the Pythonic Accountant has evolved into a comprehensive accounting tool with enhanced functionality. Its ability to record and manage various financial transactions, generate invoices, and track cash flow makes it an invaluable asset for businesses of all sizes.
