Path: Finance and Accounting > Chart Of Accounts

Image: Chart Of Accounts

Data Input

Account Category:

Select an Account Category via LOV/Drop Down. The created Account Categories will subsequently fall under the selected Account Categories.

New Child Account:

If the user wants to create a detail account under a Header account, the user has to use the link, New Child Account 

Account Code:

Account code can be entered by the user and it can't be duplicated.

The Account Code of the New Child Account will be stated as the Account Code of the Header Account followed by the preffered Child Account Code.

 (x) Once an Account code is entered it is not allowed to change.

All Accounts created under the invidual Account Categories can be assigned by a unique code.

i.e:

(All of the above stated Account Categories are Balance Sheet Accounts, hense the Account Category Codes are in close sequence.)

Income Statement Account Categories, Header Accounts & Details Accounts are to be also formatted as follows:

(The User can set each detail Account to a Standard Length.)

Account Name:

The required Account Name can be entered by the user.

(x) Once an Account Name is entered, the name can not be changed.

Account Type:

Select created accounts as Header or Detailed.

Under each of the above category, the user can create Header and Detail accounts.

Header Accounts is an Account under which Sub?Detail accounts are fallen into.

This is a nimunal account and users can't post accounting entries into those Child Accounts.

Example:

If Sales & MArketing Expenses Account is considered as a Header Account; Sales Staffs Salary Account, Commission Account, Travelling Expenses Account,etc can be considered as Detailed Accounts for the Header Account.

Users will need to select the whether the account consisted wwith the following features;

Once accounts are created for either Header or Detail it can not be changed.

Location:

All the availble lovstions are listed for users to select. Allow to select Locations for which Account Codes are applicable. Status.

Link: Creation of New Location > Administration > Company Profile and Policies

Opening Balances:

The opening balance pertaining to created account corresponding to each location can be entered.

Status:

The amount corresponding to each location can be made Active?Inactive via selecting LOV.

If Inactive is selected, that Acccount is considered as Non Existing for the particular location.

Save:

<Button> Pressing the button will allow to SAVE the datails.

Reset:

<Button> Pressing thee button will allow to reset unsaved details entered.