Overview
Control accounts are accounts that only the system can post to - this ensures that the balance of these accounts have not been adjusted by manually posting journals. Note: a secure feature exists for posting to GL Control Accounts.
These are the default accounts to use for transactions in the system.
Set all the defaults to be used in the system for GL codes for particular transactions
- '''Trade Debtors, Creditors'''''' - for invoices
- GST Paid and collected'''''' - for GST
- Dftl Income and Expense''' is Default Income and Expense Accounts
- '''Undeposited Funds'''
- '''Cash Discrepancy''' Undeposited Funds - for funds received but not yet deposited (eg cash in a till)
- Cash Discrepancy - for when counting cash floats
- '''Invoice Rounding''' on sales invoices '''when cash sales are made
- Delivery Charges''' on sales orders
- '''Goods Received not Inv''' is goods received not invoiced
- '''Default Stock Asset''' - Inventory stock on hand
- '''Cost of Sales''' - COGS
- '''Cost of Sales Assembl''' Assembly - is cost of Sales Assemblies that are assembled only when sold and not stocked.
- '''Warranty ''' costs for parts and labour
- '''Stock write off''' - example returns to scrap
- '''FC Position''' Foreign Foreign Currency'
- ''GST Rate'''GST Rate
- Asset Depreciation - for depreciation expense
- FX Control - to track foreign exchange adjustments
- Unrealised FX - gains and losses
- EPA is deposits on drink bottles
- Withholding tax is for creditors that do not provide an ABN - The system will warn users on creation of Creditor Invoice. You may add a line to the invoice or instead create a creditors credit note for the withholding amount. The withheld amounts will show on the GST Explorer
- Deposits and Progress Payments - where an invoice may have been raised but with no GST as the funds have not been earnt yet
- Deposit % - where a standard deposit is required
- Restocking Fee - where a standard cancellation charge applies
COD customer orders can be defaulted to 100% payment required either (1) before authorisation or (2) before picking or (3) not defaulted. The % is held per debtor and so can be adjusted for each debtor.
