Evrykit Accounting is a complete double-entry bookkeeping engine embedded directly in your ERP. Every transaction in Sales, Purchasing, Inventory, and POS posts to the general ledger automatically — no re-keying, no sync errors.
How It Works
Double-entry accounting means every financial event creates two equal and opposite journal entries (a debit and a credit). Evrykit enforces this automatically: you cannot post an unbalanced journal, and the system will not let you close a period with a difference.
Chart of Accounts
Your chart of accounts (CoA) is the backbone of the system. Evrykit ships with a default CoA covering assets, liabilities, equity, revenue, and expenses — structured to match standard Kenyan accounting practice. You can customise account names, add sub-accounts, and map modules to specific accounts.
Account types (Asset, Liability, Equity, Revenue, Expense) determine how balances appear on your financial statements and enforce correct debiting/crediting rules.
Journal Entries
Every transaction across every module creates journal entries automatically:
| Transaction | Debit | Credit |
|---|---|---|
| Customer invoice | Accounts Receivable | Revenue |
| Customer payment | Cash / Bank | Accounts Receivable |
| Purchase order received | Inventory Asset | Accounts Payable |
| POS sale (cash) | Cash | Revenue |
| Stock write-off | Cost of Goods | Inventory Asset |
You can also post manual journal entries for adjustments, accruals, prepayments, and corrections. Manual entries support reversal — post a reversing entry in the next period with one click.
Fiscal Year & Periods
Define your fiscal year (January–December, July–June, or any custom range) and open accounting periods within it. Closing a period locks it against further posting — protecting your historical records while keeping the current period editable.
Financial Reports
| Report | What it shows |
|---|---|
| Trial Balance | All account balances at a point in time — debits must equal credits |
| Profit & Loss | Revenue minus expenses over a date range |
| Balance Sheet | Assets, liabilities, and equity at a snapshot date |
| Account Ledger | All transactions for a specific account, filterable by period |
| Journal Report | All posted journal entries in chronological order |
All reports support the AI Analysis panel — ask the AI to explain a variance, compare periods, or flag accounts with unusual movements.
Connected Modules
- Sales — invoices and payments post to receivables and revenue accounts.
- Purchasing — POs and GRNs post to payables and inventory accounts.
- Inventory — stock adjustments and transfers post cost of goods entries.
- Point of Sale — session close-out posts cash and revenue journals.
Getting Started
- Review and customise your Chart of Accounts.
- Open your Fiscal Year & Periods.
- Check your Trial Balance after your first transactions to confirm everything is posting correctly.