Finance App

Chart of Accounts

The Chart of Accounts (COA) defines the structure of your financial records. Every transaction in Umbra is posted to an account in the COA. Accounts are organized into five top-level categories:

• Assets — Cash, bank accounts, accounts receivable, inventory, fixed assets
• Liabilities — Accounts payable, loans, tax obligations, accrued expenses
• Equity — Owner's equity, retained earnings, share capital
• Revenue — Sales income, service revenue, interest earned
• Expenses — Cost of goods sold, salaries, rent, utilities, marketing

You can create sub-accounts to any depth. Each account has a unique code, name, type, and optional description. Use the tree view to navigate your account hierarchy.

Journal Entries

Journal entries are the foundation of double-entry bookkeeping. Every financial transaction is recorded as a journal entry with balanced debits and credits.

• Manual Entries — Create adjusting entries, corrections, or non-standard transactions
• Automated Entries — Bills, invoices, expenses, and payroll automatically generate journal entries
• Recurring Entries — Set up templates for monthly accruals, depreciation, or other recurring postings
• Reversing Entries — Automatically reverse accrual entries at the start of the next period

Each entry must balance (total debits equal total credits) before it can be posted. Draft entries can be saved and reviewed before posting.

General Ledger

The General Ledger provides a complete, chronological record of all posted transactions. Filter by account, date range, department, or transaction type to drill into specific activity.

• View running balances for any account
• Click any transaction to see its source document (bill, invoice, expense, etc.)
• Export ledger data to CSV or PDF for external audits
• Filter by fiscal period, department, or project

Trial Balance

The Trial Balance report lists all accounts with their debit and credit balances for a selected period. Use it to verify that your books are balanced before generating financial statements.

• Generate for any date range or fiscal period
• Compare trial balances across periods to spot anomalies
• Drill into any account to see the underlying transactions
• Export to CSV or PDF for auditors

Vendors

Manage your supplier and vendor records in a central directory. Each vendor profile includes contact details, payment terms, tax information, and a complete transaction history.

• Store multiple contact persons per vendor
• Set default payment terms (Net 30, Net 60, etc.)
• Track outstanding balances and payment history
• Link vendors to expense categories for automatic classification

Bills & Payables

Track what you owe to vendors. Create bills when you receive goods or services, then record payments as they are made. The aging report shows overdue amounts at a glance.

Expenses

Submit business expenses for approval and track spending across categories. Each expense can be linked to a project, department, or cost center for detailed reporting.

Debit Notes

Issue debit notes to vendors when returning goods, disputing charges, or adjusting a previously received bill. Debit notes reduce your outstanding payable balance.

• Create from an existing bill or as a standalone document
• Specify the reason for the debit (return, pricing error, damaged goods)
• The vendor's balance updates automatically once the debit note is approved
• Track debit note status: Draft, Sent, Applied, Void

Statements

Generate detailed account statements for customers and vendors. Statements summarize all transactions within a date range and show the outstanding balance.

• Generate customer statements showing invoices, payments, and balances
• Generate vendor statements showing bills, payments, and debit notes
• Email statements directly to customers or vendors from the platform
• Export as PDF with your company branding

Tax Codes

Configure tax rates and codes to match your jurisdiction's requirements. Tax codes are applied to invoices, bills, and expenses to automatically calculate the correct tax amounts.

• Create multiple tax codes (VAT, Sales Tax, Withholding Tax, etc.)
• Set tax rates as percentages with effective date ranges
• Assign default tax codes to products, services, and vendors
• Compound tax support for jurisdictions with layered tax rules
• Tax-exempt codes for non-taxable transactions

Bank Reconciliation

Reconcile your bank statements with your books to ensure every transaction is accounted for. The reconciliation tool matches bank transactions to journal entries and highlights discrepancies.

Budgets

Set spending limits by department, project, or cost center and monitor actual spending against your budget in real time.

• Navigate to Finance > Budgets and click "Create Budget"
• Set the budget name, amount, period (monthly/quarterly/annual), and department
• The dashboard shows spending vs. budget with a progress bar
• Receive alerts when spending reaches 80% or 100% of the budget
• Compare budget vs. actual across multiple periods for trend analysis

Fiscal Periods

Manage your fiscal year structure and control which periods are open for posting. Closing a period prevents any new transactions from being recorded in that timeframe.

• Define your fiscal year start month and period structure (monthly, quarterly)
• Open and close periods individually or in bulk
• Year-end closing process transfers net income to retained earnings
• Re-open closed periods with admin approval for corrections

Financial Reports

Generate key financial reports from the Finance > Reports section. All reports can be filtered by date range, department, and project.

• Profit & Loss — Revenue, expenses, and net income for any period
• Balance Sheet — Assets, liabilities, and equity snapshot at a point in time
• Cash Flow — Track money flowing in and out of the business across operating, investing, and financing activities
• Tax Summary — Tax collected and paid, organized by tax code, ready for filing