Introduction
Bkper is a financial management platform that applies the fundamental principle of Double Entry Bookkeeping: in any financial event, an amount is deducted (credit) from one place and added (debit) to another. These places are called Accounts, and the transfers of resources between accounts are called Transactions.
Accounts
An Account is a structure that registers credits and debits through transactions and all its debits and credits produce its balance value. Think of an Account as a spreadsheet where you list positive (incoming) numbers and negative (outgoing) numbers in a column and the sum of the column is the balance value.
You define what an Account represents as it can be anything in life that you need to manage, such as a bank account, a revenue or an expense, etc.
Groups
Accounts will be related and by representing these connections in Groups you structure them and gain a broader understanding about them.
Groups also support both a hierarchical logic of groups as well as separate representations of the same accounts.
Transactions
In real life every-time we buy something, deliver a product, borrow, pay a bill or give a credit we move resources from one place to another. Transactions represent these events, and they consist of a description of the event, an amount and the date.
The video How the economy works by Ray Dalio from Bridgewater Associates explains Transactions perfectly.
Book
Accounts, Groups and Transactions of a specific entity are organized in a book. Since transactions between accounts on a book can represent any financial event, books give you the flexibility to manage the finances of any entity such as a person, a family, projects, businesses, NGOs, etc.
For more complex entities, a book can be also organized into a Collection.
A Book is also called a Ledger, and the sum of all credits and debits recorded in a book will always tally zero!