Company Accounts Overview

Paramo Accounts covers the full accounting cycle on an accrual basis.

Paramo Accounts uses Journals or day books as primary accounting records, which are then summarised periodically and transferred to the general ledger. These include

• the sales journal for recording credit sales invoices.
• the cash sales journal for recording all prepayments, and cash sales entries.
• the purchase journal for recording all invoices received from suppliers
• the credit notes journal for recording all credit notes issued
• the debit notes journal for recording all debit notes issued
• the general journal for entering non regular transactions, which are not recorded in other journals
• the various bank accounts .

Stock Valuation

When preparing accounts for the first time, stock at hand must be valued

Company Startup

For a guide to first time company startup, see