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Difference between revisions of "Chart of Account"
(Created page with "'''Chart of Account''' A chart of accounts is a list of the categories used by an organization to classify and distinguish financial assets, liabilities, and transactions ''...") (Tag: Visual edit) |
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[[File:Adding Chart of Account.png|center|thumb|774x774px|Adding Chart of Account]] | [[File:Adding Chart of Account.png|center|thumb|774x774px|Adding Chart of Account]] | ||
{| class="wikitable" | {| class="wikitable" | ||
| − | !Field | + | !Field |
!Description | !Description | ||
!Expected Values | !Expected Values | ||
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|<span style="color: rgb(34, 34, 34)">•Debit/Credit</span> | |<span style="color: rgb(34, 34, 34)">•Debit/Credit</span> | ||
|} | |} | ||
| + | Notes: | ||
| + | |||
| + | * When creating a Chart of Accounts, account class field is required, make sure to check the Account class module first when creating a Chart of Accounts | ||
| + | |||
| + | |||
'''Editing Chart of Account''' | '''Editing Chart of Account''' | ||
[[File:Editing Chart of Account.png|center|thumb|779x779px|Editing Chart of Account]] | [[File:Editing Chart of Account.png|center|thumb|779x779px|Editing Chart of Account]] | ||
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'''Chart of Account Record Option''' | '''Chart of Account Record Option''' | ||
| − | [[File:Chart of Account Record Option.png|center|thumb|Chart of Account Record Option]] | + | [[File:Chart of Account Record Option.png|center|thumb|Chart of Account Record Option]]Notes: |
| + | |||
| + | * Charts of accounts are important when creating or editing the following Module since it needs accounting details to proceed with the transaction | ||
| + | ** Accounts Payable | ||
| + | ** Accounts Receivable | ||
| + | ** Debit Memo | ||
| + | ** Credit Memo | ||
| + | |||
| + | * The list of accounts can be used as long as its status is "ACTIVE" | ||
| + | * "INACTIVE" accounts cannot be used in the transaction but the accounts on the past transactions can still use it. | ||
'''Chart of Account View Record''' | '''Chart of Account View Record''' | ||
| − | [[File:Chart of Account View Record.png|center|thumb|Chart of Account View Record]] | + | [[File:Chart of Account View Record.png|center|thumb|Chart of Account View Record]]Notes: |
| + | |||
| + | * The user has an option to Edit the details when viewing the record. | ||
Revision as of 11:34, 23 October 2020
Chart of Account
A chart of accounts is a list of the categories used by an organization to classify and distinguish financial assets, liabilities, and transactions
Chart of Account Record List
File:Chart of Account Record List.png
Chart of Account Record List
Adding Chart of Account
File:Adding Chart of Account.png
Adding Chart of Account
| Field | Description | Expected Values |
|---|---|---|
| 1.Account Code | •Reference Code for the Account | •Alphanumeric |
| 2.Account Name | •Name of the Account | •Alphanumeric |
| 3.Account Class | •Class of the Account | •Account Class List provided in Account Class Maintenance Module |
| 4.FS Presentation | •Presentation of Financial Statements | •Balance Sheet/Income Statement |
| 5.Account Type | •Type of Account | •Child/Parent/Both |
| 6.Parent Account Title | •Parent Account related on the Account | •Parent Account Title List |
| 7.Account Nature | •Nature of Account if it is Debit or Credit | •Debit/Credit |
Notes:
- When creating a Chart of Accounts, account class field is required, make sure to check the Account class module first when creating a Chart of Accounts
Editing Chart of Account
File:Editing Chart of Account.png
Editing Chart of Account
| Field | Description | Expected Values |
|---|---|---|
| 1.Account Code | •Reference Code for the Account | •Alphanumeric |
| 2.Account Name | •Name of the Account | •Alphanumeric |
| 3.Account Class | •Class of the Account | •Account Class List provided in Account Class Maintenance Module |
| 4.FS Presentation | •Presentation of Financial Statements | •Balance Sheet/Income Statement |
| 5.Account Type | •Type of Account | •Child/Parent/Both |
| 6.Parent Account Title | •Parent Account related on the Account | •Parent Account Title List |
| 7.Account Nature | •Nature of Account if it is Debit or Credit | •Debit/Credit |
Chart of Account Options
File:Chart of Account Options.png
Chart of Account Options
Chart of Account Importing Option
File:Chart of Account Importing Option.png
Chart of Accounts Importing Option
Chart of Account Record Option
File:Chart of Account Record Option.png
Chart of Account Record Option
Notes:
- Charts of accounts are important when creating or editing the following Module since it needs accounting details to proceed with the transaction
- Accounts Payable
- Accounts Receivable
- Debit Memo
- Credit Memo
- The list of accounts can be used as long as its status is "ACTIVE"
- "INACTIVE" accounts cannot be used in the transaction but the accounts on the past transactions can still use it.
Chart of Account View Record
File:Chart of Account View Record.png
Chart of Account View Record
Notes:
- The user has an option to Edit the details when viewing the record.