General Accounting Settings | Accounting & Bookkeeping Software UK.

The General Accounting Settings in Britixo give you full control over how your financial data is managed and reported. From choosing your financial year and accounting method to resetting data or closing your books, these settings ensure your accounts remain accurate and compliant.

Access General Settings

1. From the left sidebar, go to Accounting.
   
   

2. Click Settings.
   
   

3. Select General.
   
   

Reset and Clean Data

• Reset Data – Deletes all information related to Banking, Transactions, Journal Entries, Transfers, Chart of Accounts, Reconciliations, and Budgets.
  
  

• Default Chart of Accounts data remains untouched.
  
  

• Only manually created accounts are deleted.
  
  

• Remove Invalid Entries – Cleans up data when an invoice is deleted but its amount still appears in accounting records.
  
  

• Deletes transaction mappings where the original transaction no longer exists.
  
  

Financial and Tax Year Setup

• First Month of Financial Year – Choose the starting month of your financial year.
  
  

• Default is January.
  
  

• Useful if your business financial year does not align with the calendar year.
  
  

• First Month of Tax Year – Select when tax calculations begin. Options include:
  
  

• Same as financial year – Tax starts at the same time as your financial year.
  
  

• January – Tax calculations start from January through December.
  
  

Choose Accounting Method

• Accrual Accounting
  
  

• Income and expenses are recorded when invoices or bills are issued.
  
  

• Reports include unpaid invoices and uncollected income.
  
  

• Best for businesses that want a complete picture of finances.
  
  

• Cash Accounting
  
  

• Income and expenses are only recorded when payments are received or bills are paid.
  
  

• Reports exclude transactions where money hasn’t exchanged hands.
  
  

• Useful for simpler cash flow tracking.
  
  

You can compare both methods in Britixo reports to see how they affect your financial statements.

Close the Books

• Close the Books secures your accounts at a chosen date.
  
  

• Once enabled, transactions on or before the closing date cannot be changed.
  
  

• If edits are attempted, Britixo shows an alert: “Has closed the book.”
  
  

• This ensures the accuracy of reports and prevents retroactive changes after finalising accounts.
  
  

Chart of Accounts Options

• Enable Account Numbers
  
  

• When enabled: You can enter account numbers when creating accounts.
  
  

• When disabled: The number field is hidden.
  
  

• Show Account Numbers
  
  

• Displays account numbers in reports, transactions, and the chart of accounts.
  
  

• Hides account numbers in all views.
  
  

Tip: Always set your financial and tax year correctly before entering data. Changing these settings after transactions have been created may cause discrepancies in your reports.