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Quick start

Install

abacus requires Python 3.10 or higher. To install run in the command line:

pip install abacus-py

Accounting cycle with abacus

With abacus you can replicate the following parts of accounting work:

  • define a chart of accounts,
  • post entries to ledger,
  • make trial balance and adjustment entries,
  • close accounts at period end,
  • make balance sheet and income statement.

Minimal example

A trading firm started with $5000 investment from shareholders, bought $4000 worth of merchandise and sold it for $4800, also paid $500 to the firm sales representative. Show firm balance sheet and income statement at period end.

Define chart of accounts

from abacus import Chart

chart = Chart(
    assets=["cash", "inv"],
    capital=["equity"],
    income=["sales"],
    expenses=["cogs", "sga"],
    retained_earnings_account="retained_earnings"
)

bx init
bx chart add --asset cash
bx chart add --asset inv --title "Inventory"
bx chart add --capital equity
bx chart add --income sales
bx chart add --expense cogs --title "Cost of goods sold"
bx chart add --expense sga --title "Selling expenses"

Use ledger to post entries

ledger = chart.ledger()
ledger.post(debit="cash", credit="equity", amount=5000, title="Shareholder investment")
ledger.post("inv",  "cash",   4000, title="Purchased merchandise")
ledger.post("cash", "sales",  4800, title="Sold merchandise")
ledger.post("cogs", "inv",    4000, title="Registered cost of sales")
ledger.post("sga",  "cash",    500, title="Paid sales representative")

bx post --entry cash equity 5000 --title "Shareholder investment"
bx post --entry  inv   cash 4000 --title "Purchased merchandise"
bx post --entry cash  sales 4800 --title "Sold merchandise"
bx post --entry cogs    inv 4000 --title "Registered cost of sales"
bx post --entry  sga   cash  500 --title "Paid sales representative"
bx close

Make reports

from abacus import Report
report = Report(chart, ledger)
report.trial_balance.viewer.print()
report.balance_sheet.viewer.print()
report.income_statement.viewer.print()
print(report.account_balances)

bx report --balance-sheet
bx report --income-statement

More features

Contra accounts

bx chart add contra:sales:refunds
bx chart offset sales voids
bx post --entry refunds cash 120 --title "Client refund"

Trial balance

bx report --trial-balance

Account balances

bx show balances
bx show balances --nonzero > balances.json

In your next project you can do bx ledger load balances.json.

Help with abacus

bx --help