Table of Contents

Reporting

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

The Accounts required for the Profit and Loss
The Accounts required for the Balance Sheet

Account types

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

Account Details

Code and Name are Alphanumeric

Moving accounts

Accounts can be moved in the COA. Right click - make child of - a list of possible accounts is shown

Refresh after each movement to see the result

Use the display sequence to re-order amongst peer accounts

Moving Branches with sub branches

If you move a branch with sub branches to another root (example moving "Discounts" plus 3 sub Accounts from Cost of Goods Sold to Revenue ) the sub Accounts will not immediately update from "Cost of Goods Sold" to Revenue. After the move - go to the Root (Revenue) and save.

The save at the root will populate the updated Account Type (Revenue) to all children accounts.

Default Tax Type

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.

Supplier claim - account visible on the Creditor Card Supplier Claim dropdown.
Stock Adjustment - makes this account visible in the stock adjustment screens
Notional R&D - for reporting Research and Development
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
Clearing account - used when multiple transactions result in a single line in a bank account
Debt Write off - to reduce the options when writing off debt

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.

Balance

Shows balances calculated when Financial years are closed.

you can request the balance as at a date.

Creating new GL Accounts

Right click in the tree - create new.

Deleting Accounts

Accounts can only be deleted if there are no transactions in the account. Right click - Delete.

To move all transactions out of a GL Account

Select the Account that transactions are to move to.

NAV to Reports Tab

Run the Account Usage Report

Right click on the account that you want to move transactions from

Making Accounts unable to Accept any new transactions

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.

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.

If you delete the Custom Name in an entity (Clear the name and save the GL account) then it will use the default name again