Account - Revision history

Cyle van Niekerk at 09:54, 2 December 2013

2013-12-02T09:54:57Z

Andrew at 18:14, 7 February 2011

2011-02-07T18:14:39Z

Admin at 04:53, 21 January 2011

2011-01-21T04:53:00Z

Admin: Created page with " More Detail= Account Accounting Concepts Account Types Accounts List Accounts Reports Balance Sheet BAS Report [[BAS R..."

2011-01-21T04:46:14Z

Created page with "<menu name=myMenu align=center> More Detail= Account Accounting Concepts Account Types Accounts List Accounts Reports Balance Sheet BAS Report [[BAS R..."

New page

<menu name=myMenu align=center>
More Detail=
[[Account]]
[[Accounting Concepts]]
[[Account Types]]
[[Accounts List]]
[[Accounts Reports]]
[[Balance Sheet]]
[[BAS Report]]
[[BAS Report List]]
[[Cash Flow Forecast]]
[[Cash Flow Statement]]
[[Dashboard]]
[[Journal Entry]]
[[Journal Entry List]]
[[Profit & Loss]]
[[Retained Earnings]]
[[Summary Sheet]]
[[Transaction Journal]]
[[Trial Balance]]
</menu>

== '''Introduction''' ==

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-<menu name=myMenu align=center>
+<menu name="myMenu" align="center">
 More Detail=
 [[Account]]
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 [[Transaction Journal]]
 [[Trial Balance]]
 </menu>
 = '''Accounts Button'''  =
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 '''Capital/Equity:''' in economics can mean: factories, machines, and other man-made inputs into a production process. In <br> finance, Capital is monies and other property owned by a corporation or other enterprise used in transacting the<br> business.
-'''Cheque or Savings: '''are Client Accounts maintained by banks, savings &amp; loan associations, credit unions, and mutual<br> savings banks that pay interest but cannot be used directly as money. These accounts let customers set aside a <br> portion of their liquid assets that could be used to make purchases. But to make those purchases, savings account <br> balances must be transferred to "transactions deposits" (or "checkable deposits"). With savings accounts you can <br> make withdrawals, but you do not have the flexibility of using cheques to do so, unless a cheque account is linked.<br> The Cheque or Savings account within 2 clix allows you to track Debits and Credits relating to your business <br> transactions.
+'''Cheque or Savings: '''are Client Accounts maintained by banks, savings &amp; loan associations, credit unions, and mutual<br> savings banks that pay interest but cannot be used directly as money. These accounts let customers set aside a <br> portion of their liquid assets that could be used to make purchases. But to make those purchases, savings account <br> balances must be transferred to "transactions deposits" (or "checkable deposits"). With savings accounts you can <br> make withdrawals, but you do not have the flexibility of using cheques to do so, unless a cheque account is linked.<br> The Cheque or Savings account within 2 clicks allows you to track Debits and Credits relating to your business <br> transactions.
 '''Cost of Goods Sold: '''(COGS) is a figure representing the cost of buying raw material and producing finished goods. Included <br> are precise factors, i.e. material and factory labour; as well as others that are variable, such as factory overheads.

← Older revision		Revision as of 18:14, 7 February 2011
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	</menu>		</menu>

−	== '''Overview''' ==	+	= '''Accounts Button''' =
		+
		+	== '''Overview''' ==
		+
		+	'''<br>'''This button allows the user to create a new General Ledger, by account, for their Company. The process starts with the <br>setting up of your accounts within ERP. The accounts you set up will be used for collection of information on resource <br>usage for the purpose of capacity and trend analysis, cost allocation, auditing, and billing. Accounting management <br>requires that resources and consumption be measured, rated, assigned, communicated and recorded in the appropriate <br>accounts. You should seek Professional advice as to the set-up and structure of your Company Accounts from your<br>Accountant.
		+
		+	== '''Types of Accounts''' ==
		+
		+	'''Accounts Payable:''' (AP) are Trade Accounts of businesses representing obligations to pay for goods and services <br> received.
		+
		+	'''Accounts Receivable:''' (AR) is a Current Asset representing money due for services performed or merchandise sold<br> on credit.
		+
		+	'''Capital/Equity:''' in economics can mean: factories, machines, and other man-made inputs into a production process. In <br> finance, Capital is monies and other property owned by a corporation or other enterprise used in transacting the<br> business.
		+
		+	'''Cheque or Savings: '''are Client Accounts maintained by banks, savings & loan associations, credit unions, and mutual<br> savings banks that pay interest but cannot be used directly as money. These accounts let customers set aside a <br> portion of their liquid assets that could be used to make purchases. But to make those purchases, savings account <br> balances must be transferred to "transactions deposits" (or "checkable deposits"). With savings accounts you can <br> make withdrawals, but you do not have the flexibility of using cheques to do so, unless a cheque account is linked.<br> The Cheque or Savings account within 2 clix allows you to track Debits and Credits relating to your business <br> transactions.
		+
		+	'''Cost of Goods Sold: '''(COGS) is a figure representing the cost of buying raw material and producing finished goods. Included <br> are precise factors, i.e. material and factory labour; as well as others that are variable, such as factory overheads.
		+
		+	'''Expense:''' Is the amount of assets or services used during a period. EXPENSES are the daily costs incurred in running and <br> maintaining a business.
		+
		+	'''Fixed Asset:''' are those assets of a permanent nature required for the normal conduct of a business, and which will not <br> normally be converted into cash during the ensuing fiscal period. For example, furniture, fixtures, land, and buildings <br> are all fixed assets. However, accounts receivable and inventory are not. Sometimes called Plant and Equipment.
		+
		+	'''Income:''' Is money received by a person or organisation because of effort (work), or from return on investments.
		+
		+	'''Long Term Liabilities:''' are liabilities of a business that are due in more than one year. An example of a long-term <br> liability would be a mortgage payable.
		+
		+	'''Other Asset:''' is an asset that is not normally part of a companies normal asset list.
		+
		+	'''Other Current Asset:''' is a Balance Sheet item that includes the value of non-cash assets due within one year. Other <br>Current Assets include accrued revenues and deferred expenses, which are recognised in allocating revenues <br>and expenses periodically. Prepayments in advance are also included in Other Current Assets.
		+
		+	'''Other Current Liability:''' is a Balance Sheet entry used by companies to group together current liabilities that are <br>not assigned to common liabilities such as debt obligations or Accounts Payable. Companies will group together <br>these Other Current Liabilities into one account on the Balance Sheet for the sake of simplicity.
		+
		+	'''Other Expense: '''defined as Other Expense Accounts for expenses not covered through regular operating or miscellaneous <br> expense accounts or cost of sales accounts.
		+
		+	'''Other Income:''' is income from activities that are not undertaken in the ordinary course of an Entity's business.
		+
		+	'''Current Assets:''' are those assets of a company that are reasonably expected to be realised in cash, or sold, or consumed <br> during the normal operating cycle of the business (usually one year). Such assets include Cash, Accounts Receivable <br> and monies due usually within one year, Short-term Investments, Inventory Asset, Un-deposited Funds, Voucher <br>Assets, Supplier Prepayments, Work in progress and prepaid expenses.
		+
		+	'''Current Liabilities:''' are liabilities to be paid within one year of the balance sheet date and include Payroll Liabilities, <br>Tax Payable, Vouchers, Customer Payments, Un-invoiced Purchase Orders and Un-invoiced Sales Orders.<br>'''<br>'''

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 [[Journal Entry]]
 [[Journal Entry List]]
-[[Profit & Loss]]
+[[Profit and Loss]]
 [[Retained Earnings]]
 [[Summary Sheet]]
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 </menu>
-== '''Introduction''' ==
+== '''Overview''' ==