Your software comes with a COA layout you can use straightaway called the Default Layout of Accounts. If you prefer to add your own layout choose Company > COA > Add. The chart of accounts is used when you produce management reports like the profit and loss. Configuring the chart means that your reports can be aligned closely to your business.
Your Chart of Accounts (COA) is the collective term for every nominal account you use to record the financial activity of your business.
The values on these nominal accounts are used to generate your day to day business reports. Of particular interest are your financial reports. Some nominal accounts record your income and expenditure and are used in your Profit and Loss report. While others record your assets and liabilities and are used in your Balance Sheet report.
To generate a financial report your software uses a COA layout. The layout controls what is included in a report. The COA layout is not to be confused with your COA of which there is one per company. Whereas, you can have several COA layouts to provide different views of your business activities.
You can use the configuration editor to amend the existing chart of accounts layout, or to create a new file that can be applied in other companies so you don't have to make the same amendments every time.
For more information about the chart of accounts and how to edit it, please refer to the Chart of Accounts topic.
|
|