Chart of Accounts Management

This is where Cost Centers come in. On Daftra, Cost Centers are specifically created to account for costs per department or employee. All you need to do is to add as many cost centers you want with all necessary info and once done, you can follow your costs anywhere, anytime you want.

No. Daftra is built for and around automation. Once, you enter records into your Chart of Accounts, records are mirrored automatically to a corresponding ledger and also in your General Ledger. On Daftra, you enter records only once.

Yes, completely. You can edit or add new accounts, set the account type, and record and manage journal entries for existing or new main accounts with ease. The chart of accounts also lets you classify accounts into detailed main accounts and sub-accounts.

Yes. Daftra's accounting software comes with a ready-to-use chart of accounts that's fully integrated and automated, while still allowing customization to fit the nature of your business and make managing operations easier. The system supports more than 50 different business fields, with the experience tailored to the field you select during setup.

Yes. Since the system lets you add any sub-account under the main accounts (expenses), you can easily create a dedicated account for end-of-service expenses.

As for the chart of accounts, the system doesn't offer a feature to import it from an Excel file, since it already comes with a pre-configured chart of accounts. As for opening balances, though, you can import opening journal entries into Daftra from a CSV file.

Daftra offers several accounting linking methods:

● Automatic linking: Most transactions (invoices, purchases, expenses, payroll) automatically generate journal entries linked to the chart of accounts.
● Manual routing: Some transactions can be routed to a specific account as soon as they're created — for example, routing the sales account to a particular account in the chart of accounts.
● Manual journal entries: You can add manual journal entries and specify the debit and credit accounts directly from the chart of accounts.

Yes. You can get an overview of all accounts using the chart of accounts report, and view account details such as the account code, account name, type, level, and cost center. There's also a feature to export the account list along with cost centers. Daftra provides ready-made templates in both Excel and PDF formats for the chart of accounts.

Yes, and this is one of Daftra's strongest accounting features. Daftra is designed to cover the accounting cycle from start to finish, issuing financial statements automatically and effortlessly. It helps you record journal entries automatically and accurately, ready for use in generating income, financial position, and cash flow reports.

Available statements include:
● Income Statement (Profit & Loss)
● Balance Sheet (Statement of Financial Position)
● Cash Flow Statement
● Trial Balance

Yes. The system lets you browse the chart of accounts with search and filtering options, and view account details such as the account code, account name, type (debit or credit), level (main or sub-account), and cost center if applicable.

In Daftra, there are two paths:

● a) Automatic routing through payroll settings (the easiest, and recommended): The system doesn't require you to manually add employee accounts from scratch. Instead, it lets you route payroll journal entries in Daftra through General Account Settings → Account Routing. There's an option called "Route employee salary account" that automatically links salaries to expense accounts in the chart of accounts.

● b) Manually adding sub-accounts (for those who want more detail): It's recommended to divide employee lists into several categories, including departments, job roles, and work shifts, so that each department's employee salaries are listed under their respective department for easier accounting processing. This is done by adding sub-accounts under the main "Salary Expenses" account, via: General Accounts → Chart of Accounts → Expenses → Add New Account, then selecting the main account and setting the account type to "Sub-account."