Receipts Manager by Zybra

Zybra Accounting Software is an easy to use cloud based accounting software for Small & Medium scale business. It makes Accounting EffortLess and can be accessed Anytime & Anywhere. Zybra is a feature rich software with many features including 1. Dashboard – Real-time updates of data in graphical form. Shows graphs of Total Receivables, Total Payables, Cash Flow, Top Expenses, Income vs Expenses and more. 2. Contact – User can manage all the contacts of Customers & Vendors. User can also view the receivables & payables of each of them & generate customer/vendor statements. 3. Inventory – User can manage basic inventory of items/services. 4. Banking – All Cash & Bank Accounts can be added & managed here. 5. Sales – User can Add/Send/Edit/Covert Estimates/Invoices/Recurring Invoices/Credit Notes/Payment Received for sales related transactions the business. 6. Purchase – User can Add/Send/Edit/Covert POs/Bills/Recurring Bills/Vendor Credits/Payment Made/Expense/Recurring Expense for purchase related transactions the business. 7. Accountant – All chart of accountants & Journal Entries can be managed here. 8. Taxes – User can create different Taxes, Compound Taxes for sales & purchase entries. 9. Documents – This is a basic DMS for all bookkeeping related documents(Invoices/Bills/Receipts/Bank Statements)[this works well with Receipts Manager App]. 10. Reports – Gives access to 40+ different reports including P&L, Cashflow & Balance Sheet 11. Organization Profile – User can manage details about their organization & add logo for each transaction document that is generated. 12. Opening Balances – to enter the opening balance of the last Financial Year when starting to use the software 13. User & Role Management – Apart from basic accounting features, user can also invite/control access to different users for Add/View/Delete rights for different section. 14. Module Preferences – Activate/Inactivate modules when not needed for the business. 15. Live Chat Support – a 24x7 live chat support is provided inside the software.
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3 golden rules of accounting

  • Posted on Aug 4, 2021
  • |
  • By Shrotriyo S

The 3 golden rules are the internationally accepted rules of accounting. Every economic entity is liable to produce its financial transactions to all its stakeholders. The financial information presented must accurately reflect the financial standing of the entity. For this reason, accounting of all transactions plays a very important role. As separate entities are compared to understand their financial status, the accounting standard should be uniform. The 3 golden rules of accounting establish this uniformity, as it is the basis of passing journal which is the basic building block of all accounting and bookkeeping.


 3 golden rules of accounting


 Personal account: Debit the receiver

                                      Credit the giver


 Real Account: Debit what comes in

                              Credit what goes out


 Nominal Account: All expenses & losses are debit

                                      All income & gains are credit


Types of Accounts


To understand the above-mentioned golden rules of accounting, we must understand the types of accounts. The types of accounts classify all the different types of general ledgers. Alternatively, all the accounts will fall in the broad classifications given below:


  • Personal Account
  • Real Account
  • Nominal Account


Personal Account

A Personal Account is a general ledger account. The accounts relating to persons, be it a natural person like an individual or person an artificial person like a company or club or other economic entity.

In the case of a personal account, when a business or individual entity is a receiver (receiver of goods or service in) a transaction from another individual entity or business. The first business becomes the receiver and the second business becomes the giver (of goods or a service)

In the above scenario, for a personal account, the golden rule is to Debit the receiver, credit the giver. By using this rule in an accounting example, you should debit the personal and credit the business account

Example: Ganesh (an individual) buys groceries worth 500 rupees

Date Account Debit Credit
XXXX Ganesh account 500
To Grocery Account 500



Real Account

Real Account is a general ledger account relating to Assets and Liabilities other than people accounts. These are accounts that don’t close at year-end and are carried forward. An example of a Real Account is a Bank Account.

The golden rule of accounting for real account states,  Debit what comes in, Credit what goes out.  In the case of a real account when the business receives something of value (goods or service), the transaction in the book is shown as debit. Alternatively, If something of value goes out of business it is represented as credit in the books

Example: A purchase of a computer for 20,000 by a business in cash

Date Account Debit Credit
XXXX Computer Account 20,000
To Cash account 20,000


Nominal Account 

 A Nominal Account is a General ledger account pertaining to all recurring  income, expenses and  losses and gains. All the transactions in a nominal account are stored for a year and then transferred to a permanent account at the end of the financial year. Such accounting allows for a business to reset the balances to zero and start again at the end of the financial year.

An example of a Nominal Account is an Interest Account.


The golden rule of accounting for nominal account states Debit all expenses and losses, Credit all income and gains.  If a business incurs an expense or suffers a loss, the transaction is shown as debit. However, if a business earns a profit or gains an income then it is shown as credit in the books.


Example: A business pays a Salary (expense ) of 30,000 to its employees in cash 

Date Account Debit Credit
XXXX Salary Account 30,000
To Cash account 30,000

The above explanation and illustrations are the very basis of accounting and bookkeeping. Although accountancy as a subject is not limited to just the golden rules,  the 3 rules act as the basics of the platform.

  • Posted on Aug 4, 2021
  • |
  • By Shrotriyo S
  • |

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