How GlassJar keeps your books
GlassJar is double-entry accounting software. Every transaction you record posts to at least two accounts, and debits always equal credits, so your books stay in balance.
Your chart of accounts
The chart of accounts is the list of categories your transactions post to: assets, liabilities, equity, income and expenses. Set it up to match how you want to read your reports. Short, plain account names make reports easier to scan. If you work with an accountant, agree on the account list with them before you start entering transactions.
Recording any transaction from one screen
In GlassJar you enter every transaction type on the same screen: invoices, bills, expenses, checks, deposits and journal entries. You pick the type, fill it in and save. You never have to hunt for the right form.
Journal entries
Use a journal entry for adjustments that are not a sale, a purchase or a bank transaction, such as depreciation your accountant calculates or a correction between accounts. Your accountant can enter these directly with their free seat.
Opening balances
When you start using GlassJar, your accounts need balances that match your books as of your start date. Your last balance sheet from your previous system, or from your accountant, is the best source. Your CPA or bookkeeper can enter these for you with their free seat.
Switching from another system
Pick a clean start date, usually the first day of a month or quarter. Close out your old books to that date and start recording in GlassJar from there. If you would like help planning the switch, email support@glassjar.io.
