8. Accounting

Recording Transactions

In the Accounting area, you manage all income and expenses. Click New Entry:

For Solo business and Small team, the first posted payment is the third step of the guided start. The card on the dashboard points you back to invoices and accounting for that step.

The entry number is assigned automatically when you save. New entries and entries prepared from a receipt scan therefore do not have an editable number field; existing entries show the number as read-only.

For Income:

• Type: Select Income
• Enter amount, date and description
• Choose category (e.g., Services, Product Sales)
• Optional: Link to an invoice

For Expenses:

• Type: Select Expense
• Enter amount, date and category
• Select the VAT rate; the selected rate and calculated VAT amount are saved per expense as a snapshot
• Optional: Attach receipt as PDF or photo

You can freely manage accounting categories - add your own, rename existing ones or delete them.

Automatic Entries

Accounting entries are automatically created when you:

• Use Record Payment on an invoice
• Mark a reminder as paid

These automatic entries contain invoice number, customer name and the selected category.

Right-Click Actions

Bank Import

With the CAMT import function, you save time:

1. Export transactions from your e-banking as CAMT-XML
2. Click Bank Import in HIVE
3. Select the XML file
4. Assign the recognized payments to the corresponding invoices

VAT Settlement

Under Reports you will find the VAT overview:

• Revenue broken down by VAT rates
• Output tax owed
• Input tax deduction from expenses
• Net amount to be paid

Reports and Evaluations

The Reports area provides you with detailed evaluations:

• VAT Report: All revenues broken down by tax rate, including input tax
• Open Items: Overview of all unpaid invoices with due dates
• Revenue Overview: Income and expenses by period
• Customer Statistics: Revenue per customer

Reports can be exported as PDF or printed directly.