Patriot Accounting

Bank activity can come from a connected account or a spreadsheet. The imported-transaction screen lets a user review, categorize and post entries to the general ledger. Try a representative bank file and check how each category maps to the chart of accounts before importing a full year.

Payments already entered through invoices, bank transfers or payroll integration can appear again in imported activity. Review and dismiss duplicates rather than posting every line automatically. A Stripe payout deposited in a connected bank account can create the same issue because Patriot may already have recorded the customer payment.

Reconciliation compares the software ledger with an external bank statement; it is a separate task from importing transactions. Match cleared items, investigate outstanding differences, and save the resulting PDF summary. Test one month with a known outstanding item before trusting a whole migration.

Reports include profit and loss, balance sheet and general ledger views. Reproduce a closed period from the old books and compare totals, dates and the accounting basis before using the output for financial decisions.

For receivables, a user can create and send customer invoices after setting up customers, products, tax rates and terms. On the payables side, a vendor bill can be recorded for later payment and assigned to an expense account. Test how both sides appear in reports and outstanding balances.

Accounting Premium can automatically create and email recurring invoices weekly, monthly or annually. The vendor says a missing customer email address means the invoice is created but not emailed. Review the schedule, recipients, amounts and stop condition with a fictional customer before enabling repeat billing.