Delivered Submodules & Capabilities
In depth breakdown of the 8 native components forming the Accounting & General Ledger workspace:
Chart of accounts
multi level chart of accounts organizing assets, liabilities, equity, revenue, and expenses. Supports custom account codes, sub accounts, parent grouping, and multi currency rules.
- ✓pre configured LKAS/SLFRS compliant commercial templates
- ✓Hierarchical account numbering and custom grouping
- ✓multi currency account configuration and FX revaluation
- ✓Account usage lockouts preventing unauthorized deletions
Manual journals
Full-featured journal entry engine for adjustments, opening balances, payroll entries, and tax adjustments. Enforces atomic balance verification (Debits must equal Credits) before posting.
- ✓Strict atomic balance validation before posting
- ✓Branch, project, and cost center dimension tagging
- ✓Supporting document attachment and audit justification
- ✓Draft journal mode with supervisor approval routing
Recurring journals
Automates routine month end accounting adjustments such as straight line asset depreciation, prepaid insurance amortization, and loan interest accruals.
- ✓Scheduled automated execution on month end dates
- ✓Custom schedule recurrence and expiration controls
- ✓pre configured templates for depreciation and prepayments
- ✓Execution logs and variance audit checks
General ledger
The definitive record of all financial activity. Drill down from high-level account balances into granular debit and credit transactions, complete with source document links and user audit trails.
- ✓Real time transactional drill down to source vouchers
- ✓Filtering by date range, account, branch, and dimension
- ✓Running balance tracking with opening and closing figures
- ✓Immutable transaction history with tamper evident audit logging
Trial balance
Instantaneous trial balance generated directly from ledger postings. Guaranteed to balance by construction, providing verified figures for period end management reporting.
- ✓Real time balance computation with zero batch waiting
- ✓Comparative trial balance across prior fiscal periods
- ✓drill through from account line to detailed transaction ledger
- ✓Exportable to formatted Excel, CSV, and audit-ready PDF
Budgets
Creates operational and capital budgets for specific fiscal years, departments, or project initiatives. Tracks actual ledger expenditure against allocated budget thresholds.
- ✓Monthly, quarterly, and annual budget allocation
- ✓Departmental and project-level variance tracking
- ✓Automated email alerts when budget utilization exceeds 85%
- ✓Budget vs Actual comparative financial statements
Fixed assets
Comprehensive asset register tracking purchase cost, salvage value, useful life, and physical location. Automates monthly depreciation runs and calculates disposal gains or losses.
- ✓straight line and reducing balance depreciation calculation
- ✓Automated monthly depreciation journal posting
- ✓Asset disposal and scrapping gain/loss computation
- ✓Physical asset tagging and branch location assignment
Book close
Controls accounting period integrity. Accountants lock completed months to prevent retroactive modifications, perform year end closes, and roll net income into retained earnings.
- ✓Granular month end and year end period closing locks
- ✓Automated profit and loss rollover to Retained Earnings
- ✓Audit lockdown preventing retroactive document edits
- ✓Auditor temporary access with restricted read only permissions
Core Capabilities & Accounting Logic
Always-Balanced double entry Engine
Designed strictly on standard accounting principles. No orphan transactions or unbalanced journals can ever enter your financial database.
- Debit and credit equality strictly enforced at the database transaction layer
- Every operational document posts directly to the central ledger
- Subledgers (AR, AP, Inventory) reconcile continuously to the General Ledger
Multi-Dimension Financial Tagging
Analyze profitability beyond standard account codes using branches, departments, projects, and cost centers.
- Branch-level profit and loss statements for multi location businesses
- Project profitability tracking with dedicated expense and revenue tagging
- Cost center budget consumption monitoring in real time
Sri Lanka Statutory & Accounting Standards
Full compliance with Institute of Chartered Accountants of Sri Lanka frameworks.
Mandates accurate, tamper evident accounting records and annual financial statements.
Standard Reports Generated
| Report Name | Frequency | Description |
|---|---|---|
| Trial Balance | Real time | Balanced summary of all debit and credit ledger balances. |
| General Ledger Detail | On demand | Comprehensive itemized transaction ledger for audit review. |
| Fixed Asset Depreciation Schedule | Monthly | Detailed book value, accumulated depreciation, and asset additions. |
tamper evident Accounting Architecture
Under Section 148 of the Sri Lanka Companies Act, company directors are personally liable for maintaining accurate books of account that reasonably reflect the company's financial position.
SyncBooks enforces complete financial immutability. Posted transactions cannot simply be silently deleted; instead, adjustments must occur through authorized reversal journals or credit notes, preserving an unbroken audit trail for external auditors.
Frequently Asked Questions
Can our external chartered accountant access our SyncBooks ledger?↓
Yes. You can invite external auditors with dedicated accountant access, giving them read only or review permissions to inspect journals, trial balances, and tax schedules without extra license fees.