Accounting in Genoa is the module where a company keeps its books. It is part of the same product as inventory, sales and purchasing, and customer and supplier ledgers with ageing. It is built for Iraqi companies working in Iraqi dinars, and the US dollar can be added through multi-currency, an optional feature that is off by default and switched on per organisation.
In any company, accounting means recording every financial transaction: what it sells, what it buys, what it receives and what it pays. These transactions are recorded as journal entries against a chart of accounts, and a trial balance is used to check that the books balance.
In an Iraqi trading company, the accounts are closely tied to stock and to customer and supplier debts. That is why it helps to keep all of them in one system.
Accounting in Genoa is built on journal entries and the Unified Accounting System chart of accounts, and it can prepare IFRS-based financial statements.
Because accounting sits in the same product as inventory, sales and purchasing, and the ledgers, sales and purchases recorded in those modules are reflected in the accounts.
Yes, once multi-currency is enabled: sales and purchase invoices can be priced in US dollars at an exchange rate entered with the invoice, the Iraqi dinar equivalent is calculated, and the journal entry and the books stay in dinars.
Multi-currency is optional: it is off by default and switched on per organisation, according to each company's needs. A company that works only in dinars does not need to enable it.
A demo is the place to check that Genoa's accounting fits the way your company works. Useful questions to ask:
That is the purpose of Genoa: keeping accounts, stock, sales and purchasing, and customer and supplier ledgers in one product instead of separate notebooks and spreadsheets.
A demo is a good first step to see how your usual transactions would be recorded in Genoa.
No. Accounting in Genoa works in Iraqi dinars without any extra feature.
Multi-currency is optional, off by default and switched on per organisation. It is only needed if the company deals in US dollars.
Genoa uses the chart of accounts of the Iraqi Unified Accounting System and can prepare financial statements based on International Financial Reporting Standards (IFRS).
Record what the company sells to customers and buys from suppliers, alongside stock and the ledgers.
Follow customer debts and supplier balances, with ageing that shows how long each balance has been open.
Book a demo and we will walk you through the screens that matter to you, or send us your question on WhatsApp.