Overview
Knowlix Accounting is a comprehensive double-entry bookkeeping system that automates journal entries for every financial transaction while providing real-time financial reporting. The module handles customer invoices, vendor bills, bank reconciliation, tax computation, asset management, and multi-currency operations. For companies that only need basic invoicing without full accounting, a standalone Invoicing mode is also available. Key features:- Double-entry bookkeeping with automatic journal entry generation
- Accrual and cash basis accounting support
- Multi-company and multi-currency environments
- Branch company management with consolidated reporting
- Customer invoices and vendor bills with electronic invoicing
- Bank synchronization and reconciliation
- Tax configuration, fiscal positions, and tax return reports
- Payment processing (manual, check, SEPA, NACHA, batch)
- Full financial report suite: Balance Sheet, P&L, Cash Flow, General Ledger, Aged Receivable/Payable, and more
- Budget management and analytic accounting
- Asset and depreciation tracking
- Deferred revenue and expense management
- Country-specific localization packages for 100+ countries
Getting Started
When first opening Knowlix Accounting, an onboarding banner guides the initial setup. The banner walks through four steps: Accounting Periods, Bank Account, Taxes, and Chart of Accounts. These settings can be revisited at any time at Accounting > Configuration > Settings.Accounting Periods
Define the fiscal year’s start and end dates used for automatic report generation, and set the tax return periodicity. The default is January 1 through December 31. Configure at Accounting > Configuration > Settings > Fiscal Periods.Bank Account
Connect a bank account for automatic transaction synchronization, or add one manually by entering the account name, number (IBAN for European accounts), bank institution details, and journal code.Taxes
Review and activate pre-configured taxes. The installed localization package pre-loads country-appropriate tax rates. Activate specific rates by toggling them on at Accounting > Configuration > Taxes.Chart of Accounts
Review account groupings and add opening balances for existing accounts. Click Setup on any account line to access the full account configuration.Chart of Accounts
The chart of accounts defines the account structure used for all financial transactions. Navigate to Accounting > Configuration > Chart of Accounts. Each account has:- Code - numeric identifier used for sorting and referencing
- Name - descriptive label
- Type - determines accounting behavior (Receivable, Payable, Bank, Fixed Assets, Income, Expense, etc.)
- Default Taxes - taxes applied by default when this account is used on invoice lines
- Tags - tax grid tags for tax return reporting
- Company - the company this account belongs to (multi-company setups)
- Deprecated - mark accounts as inactive without deleting historical records
Journals
Journals are the posting mechanisms that group transactions of the same type. Navigate to Accounting > Configuration > Journals. Default journals include:- Customer Invoices - customer receivable transactions
- Vendor Bills - supplier payable transactions
- Bank - one journal per bank account
- Cash - for physical cash transactions
- Miscellaneous - for manual journal entries
Journal Settings
- Type - Sales, Purchase, Cash, Bank, or Miscellaneous
- Short Code - prefix used on entry sequences
- Default Account - the account where unmatched amounts are posted
- Dedicated Sequence - separate numbering sequence for this journal
- Lock Posted Entries - prevent editing of confirmed entries
Customer Invoices
Creating an Invoice
Navigate to Accounting > Customers > Invoices and click New, or generate automatically from a confirmed sales order. Required fields:- Customer - selecting a customer auto-fills address, payment terms, fiscal position, and receivable account
- Invoice Date - auto-filled with today’s date upon confirmation if left blank
- Due Date / Payment Terms - controls when payment is expected
- Journal - the journal used to post the invoice
- Currency - auto-converts amounts and displays the exchange rate if different from company currency
Confirming an Invoice
Click Confirm. The status changes to Posted and a unique sequential number is assigned. To make changes after confirmation, click Reset to Draft.Sending an Invoice
Click Send to open the delivery dialog. Set the preferred sending method per customer at Accounting > Customers > Customers, Accounting tab, Customer Invoices section. Available methods include email, postal mail, and electronic invoicing formats. To send multiple invoices at once, select them in list view and click Send. A batch processing banner appears on selected invoices to prevent duplicate sends. To find unsent invoices, filter by Not Sent in the search bar.Credit Notes
Create a credit note from a posted invoice using the Credit Note button. A credit note reverses or partially reduces the invoice amount. Choose whether to create a partial credit note or fully reverse the invoice.Payment Terms and Cash Discounts
Payment terms define installment schedules, partial payment requirements, and early payment discount conditions. Assign them per customer (contact form) or per invoice. When applied, the Amount Due on the payment dialog automatically reflects the appropriate installment.Electronic Invoicing
When a localization supports e-invoicing formats (EDI, UBL, Factur-X, etc.), a Generate button appears on posted invoices to produce the required XML or PDF/A-3 file. Some localization-specific workflows submit invoices directly to government clearance platforms.Vendor Bills
Creating a Bill
Navigate to Accounting > Vendors > Bills and click New, or create from the Accounting dashboard by clicking New on the Vendor Bills journal card. Bills can also be created automatically by:- Emailing a PDF to the purchase journal’s email alias
- Uploading a PDF directly to the bill form; bill digitization (OCR) extracts header and line data automatically
- Confirming a purchase order with the bill control policy set to “On Ordered Quantities” or “On Received Quantities”
Bill Form Fields
The bill form mirrors the invoice form with vendor-specific fields:- Vendor - auto-fills vendor details, payment terms, and fiscal position
- Bill Reference - the vendor’s own invoice number for cross-referencing
- Bill Date - date from the vendor’s invoice
- Accounting Date - the date used for journal entry posting
- Due Date / Payment Terms - controls payment deadline
Matching Bills with Purchase Orders
When a bill corresponds to an existing purchase order, use the Match Purchase Orders button (or auto-populate via bill digitization) to link bill lines to received purchase order lines. This enables 3-way matching between the PO, receipt, and bill.Payments
Payments in Knowlix either link directly to an invoice/bill to reduce the amount due, or exist as standalone records that create outstanding credits or debits applied to future documents.Payment Methods
Configure payment methods per journal at Accounting > Configuration > Journals. The Incoming Payments and Outgoing Payments tabs list available methods:- Manual - cash or any method without specific processing
- Check - generates a check register entry; checks are printed from the system
- SEPA - XML-based direct debit/credit transfer for European banks
- NACHA - ACH file generation for US bank transfers
- Batch Payments - group multiple payments into one bank file
Registering a Payment from an Invoice or Bill
Open the invoice or bill and click Pay. In the dialog:- Journal - the bank or cash journal to use
- Payment Date - date the payment is made
- Payment Method - method used (pre-filled from contact preference)
- Amount - auto-calculated; for installment-based payment terms, shows the due installment amount; click Full Amount to override
- Memo - reference for the payment
Registering Payments on Multiple Invoices
In list view (Accounting > Customers > Invoices or Vendors > Bills), select the invoices, group by Payment Method, and click Pay. Enable Group Payments to combine same-contact payments into one transaction.Batch Payments
Batch payments consolidate multiple individual payments into a single bank submission file (SEPA or NACHA) or a single deposit. Navigate to Accounting > Customers > Batch Payments or Vendors > Batch Payments. Create a batch, add payment lines, and generate the export file. Useful for:- Depositing multiple customer checks in one bank transaction
- Generating a single SEPA or NACHA file for multiple vendor payments
Partial Payments
When the payment amount is less than the total due, a Payment Difference field appears. Choose to either:- Keep Open - leave the remaining balance on the invoice
- Mark as Fully Paid - write off the difference to a specified account
Payment Matching and Reconciliation
When outstanding payments and invoices exist for the same contact, a blue Add button appears on the invoice under Outstanding Credits or Debits to match them. For bulk matching, access Accounting > Accounting > Reconcile or click the ellipsis button on a journal card and select Payments Matching. Use the Auto-Reconcile feature to match debits and credits automatically by perfect match or by clearing accounts. An invoice is considered Paid only after the payment is reconciled with a corresponding bank transaction.Bank and Cash Accounts
Connecting a Bank
From the Accounting dashboard, click Search over 26,000 banks on an unconnected bank card. Find the institution, click Connect, and follow the setup wizard. Once connected, transactions sync automatically.Manual Bank Account Setup
If automatic synchronization is unavailable or not desired, click Record transactions manually at the bottom of the bank search screen. Fill in the account name, number (IBAN format for European accounts), and institution details. A dedicated journal and account are created automatically.Bank Transactions
Navigate to a bank journal card and click the transaction count to open the bank statement view. Imported transactions appear here pending reconciliation. Each transaction line shows the date, description, amount, and matching status.Bank Reconciliation
Reconciliation matches bank statement lines to journal entries (payments, invoices, or manual entries). Navigate to Accounting > Accounting > Bank Matching or click Reconcile on the bank journal card. The reconciliation interface shows pending bank lines on one side and suggested matches from the system on the other. For each bank line:- Accept a suggested match by clicking Match
- Search for a different record
- Create a new journal entry directly (for bank fees, interest, etc.)
- Set the transaction aside to reconcile later
Internal Transfers
To move funds between bank accounts or between a bank and cash, navigate to Accounting > Accounting > Internal Transfers and create a transfer record. The transfer creates two journal entries: one debiting the source account and one crediting the destination.Foreign Currency Accounts
When a bank account is held in a foreign currency, configure the currency on the journal. Gains and losses from currency exchange are automatically posted when transactions are reconciled.Taxes
Tax Configuration
Navigate to Accounting > Configuration > Taxes to view all configured taxes. The localization package pre-creates taxes for the installed country; inactive taxes can be enabled by toggling the Active column. Tax form fields:- Tax Name - internal label for backend users
- Tax Type - Sales (customer-facing), Purchase (vendor-facing), or None (for grouped taxes)
- Tax Computation - Fixed amount, Percentage of Price, Percentage of Price Tax Included, Group of Taxes, or Python Code
- Amount - the rate or fixed value
- Tax Scope - restrict to Goods or Services only
- Label on Invoices - what customers see on printed invoices and the portal
- Tax Group - groups multiple taxes under one total line in invoice footers
- One Base line (the invoice line amount, with tax grid tags for the tax return)
- One or more % of tax lines summing to 100% (each creates a tax payable journal item with an assigned account)
- Standard: one 100% line
- Reverse charge (EU intra-community): one 100% and one -100% line
- Partially deductible VAT: two 50% lines with different accounts
Default Taxes
Set company-wide default sales and purchase taxes at Accounting > Configuration > Settings > Taxes. These auto-fill on new products and invoice lines. Enable Tax Included globally to treat all prices as tax-inclusive by default.Assigning Taxes to Products
Set the Sales Taxes and Purchase Taxes fields on each product form. Taxes assigned here auto-apply when the product is added to any document.Extra Taxes
For luxury taxes, environmental levies, or import duties that layer on top of base taxes, create the extra tax and enable Affect Base of Subsequent Taxes in the Advanced Options tab. Arrange the tax order using drag-and-drop so calculation sequences are correct.Fiscal Positions
Fiscal positions automatically substitute taxes and accounts based on a customer or vendor’s location or VAT status. Configure them at Accounting > Configuration > Fiscal Positions. Common uses:- Applying zero-rate VAT for intra-EU B2B sales
- Switching to reverse charge taxes for cross-border services
- Mapping accounts differently for specific country rules
Cash Basis Accounting
When cash basis is enabled, tax journal entries are created when payment is received or made, not when the invoice or bill is confirmed. Enable at Accounting > Configuration > Settings > Taxes > Cash Basis. Some localization packages enable this automatically.Financial Reporting
All reports are available in real-time at Accounting > Reporting. Reports can be exported as PDF or XLSX, drilled into by clicking account rows, and compared across periods using the Comparison menu.Financial Statements
Balance Sheet - snapshot of assets, liabilities, and equity at a specific date. Current year earnings are calculated in real time; no year-end rollover is required. Profit and Loss (Income Statement) - revenue minus expenses for the reporting period. Shows net income in real time. Cash Flow Statement - breaks cash movement into operating, investing, and financing activities. Executive Summary - high-level performance indicators:- Gross profit margin and net profit margin
- Return on investment (annualized)
- Average debtor days and average creditor days
- Short-term cash forecast (next 30 days)
- Current assets to liabilities ratio
Audit Reports
General Ledger - all transactions across all accounts for a date range. Click the arrow on any account row to expand individual journal entries. Trial Balance - summarized debit and credit totals per account for a period. Journal Audit - all entries per journal for review. Intrastat Report - EU intra-community trade statistics report. Check Register - log of all check payments.Partner Reports
Partner Ledger - transaction history and running balance per customer or vendor. Aged Receivable - outstanding customer invoices bucketed by days overdue. Aged Payable - outstanding vendor bills bucketed by days overdue.Tax Reporting
Tax Report - aggregates base amounts and tax amounts from all invoices and bills for the period, organized by tax grid to match the official tax return format. Export as XML for direct upload to government tax platforms where supported by the localization.Management Reports
Invoice Analysis - breakdown of invoiced amounts by customer, product, period, or salesperson. Analytic Report - costs and revenues by analytic account or plan. Audit Trail - log of all changes to accounting records. Budget Report - actual vs. budgeted amounts by analytic account. Unrealized Currency Gains/Losses - open foreign currency receivables and payables marked to market at current exchange rates. Deferred Revenue - earned and unearned portions of deferred income. Deferred Expense - amortized and unamortized prepaid expenses. Depreciation Schedule - asset depreciation by method and period. Disallowed Expenses - expenses excluded from tax deduction. Product Margins - gross margins by product or category.Multi-Company and Branch Management
Knowlix supports managing multiple legal entities within a single database. Each company has its own chart of accounts, journals, and tax configuration, though accounts can be shared for consolidation reporting. Users can view records from multiple companies simultaneously but can only post transactions in one company at a time.Branches
Branches operate under a parent company and share:- The parent company’s chart of accounts
- The parent company’s main currency
- The parent company’s taxes
- The parent company’s fiscal period lock dates (branches may set earlier lock dates)
Consolidation
Navigate to Accounting > Reporting > Consolidation to generate consolidated financial statements across all companies or a selected subset. Share accounts between companies to enable aggregated reporting.Multi-Currency
Enable multi-currency at Accounting > Configuration > Settings > Currencies. Configure exchange rates either manually or with automatic synchronization from a currency rate provider. Every transaction records the amount in both the company’s base currency and the transaction currency. Currency gains and losses are automatically posted to designated accounts when transactions are reconciled. When a bank account is held in a foreign currency, the journal is set to that currency and all transactions in that journal convert automatically.Analytic Accounting
Analytic accounts (also called cost centers) allow tracking income and expense by project, department, product line, or any other dimension independent of the main chart of accounts. Navigate to Accounting > Configuration > Analytic Accounting > Analytic Plans to define analytic plans. Multiple plans can exist for different tracking dimensions. Assign analytic distributions directly on invoice lines, vendor bill lines, journal entries, expenses, and timesheets. The Analytic Report (Accounting > Reporting > Analytic Report) provides a breakdown of costs and revenues per analytic account.Budgets
Navigate to Accounting > Accounting > Budgets to set up budget targets per analytic account and period. Create a budget, define budget lines with analytic accounts and planned amounts, and confirm. The Budget Report compares actual vs. budgeted values in real time.Assets
Knowlix manages fixed asset depreciation automatically. Navigate to Accounting > Vendors > Assets to see all assets. Create an asset from a vendor bill by posting the bill to an asset account, which triggers asset creation automatically. Each asset record specifies:- Asset Profile - the depreciation method (straight-line, declining balance, etc.) and duration
- First Depreciation Date - when depreciation begins
- Salvage Value - residual value at the end of the asset’s life
Fiduciary / Accounting Firms Mode
Enable at Accounting > Configuration > Settings to activate features useful for accounting firms managing multiple clients:- Invoice and bill sequences become editable on all documents
- A Total (tax incl.) field appears for fast encoding
- Invoice Date and Bill Date auto-fill on new transactions
- A Quick Encoding mode speeds up bulk invoice entry