Table of Contents
Overview
Used by Accountant or Financial Controller to manage the chart of accounts
Reporting
Financial reporting is covered in Balance Sheet, Profit and Loss, Aged Debt and Payable
Chart of Accounts
The Chart of Accounts has the following basic layout
- The Accounts required for the Profit and Loss
- The Accounts required for the Balance Sheet
Each of these accounts have the associated setting so we know where to put them on the reports
Children inherit this setting from their parents
Account Subtype is also used to ensure accounts appear in the correct place in reports
GL Account Settings
Default Tax Type
Default Tax Type will be the default if no other tax type is chosen when the transaction is entered.
Fixed Currency
Fixed currency is only required on Bank Accounts - all transactions will be required to be in the set currency.
Special Types
These flags are used by the system to filter information in processes or reports.
- Supplier claim - account visible on the Creditor Card Supplier Claim dropdown.
- Stock Adjustment - makes this account visible in the stock adjustment screens
- Spend Money - account in the spend money dropdown when spending company cash
- Landed Cost - Landed Cost will include this account when searching for landed cost invoices
Display Sequence
Display sequence is used when accounts are in the same level to set the sequence
If two accounts are on the same level - set one to 10 and one to 20 and they will sort by this sequence number
Report Sequence
Used to sequence the accounts on the same level in the reports.
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