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Financial reporting is covered in Financial Reports including Balance Sheet, Profit and Loss, Trial Balance, Aged Debt and Payable, Stock Valuation
Chart of Accounts
The Chart of Accounts has the following basic layout
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Default Tax Type will be the default if no other tax type is chosen when the transaction is entered.
- Force Tax Type Default = will override other accounts. This is useful for tax types of NA for GST on import GL accounts etc.
Fixed Currency
Fixed currency is only required on Bank Accounts - all transactions will be required to be in the set currency. There is no other reason to fix currency
Currency can only be fixed to a non base currency (different to the currency of your Host Company) before transactions have been attached.
After transactions can be attached - you can only set the currency to the base currency of your host company if it was not previously fixed.
Special Types
These flags are used by the system to filter information in processes or reports.
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Making Accounts unable to Accept any new transactions
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Visibility and Account Name in other Host Companies
The system has a list of all the Host Companies in the system that are using the COA - untick the visibility if it is not to appear in that host company.
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Administrators will see chart of accounts everywhere Hide any Folder and all the children will not show in that company |
If the account is to appear in that host company - you can rename the account to suit the business - an example is to rename from "Bank 1" to ANZ Bank etc.
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