4 New Account
From TrueERP wiki
Create a New Account
Do you know how to setup a new account for your Chart of Accounts?
Select Accounts from the Main Menu then Account button. First make sure the preferences have been set correctly select, Utilities =>Accounts
Set Default Departments - Treat these like cost centres, this enables you to access reports with a breakdown of figures per department. Closing dates should be set, these can be changed at any time. Recommend re-setting closing date after a BAS report so that period is locked and no transactions can be entered after the close off. Recommend only one person has full access levels to change these dates. Load the Credit terms View accounts in Tree mode => shows all breakdowns of accounts. List Mode is easier to view but does not give full details you can not drill into information from list mode.
Select Account type eg. expense (use F1 if help is needed to select the appropriate type) Then Account Name eg. Petrol Then Header account eg. Motor vehicle expenses If you wish further breakdowns of costs a Sub Account can also be selected eg. Account type Expense=>Header Account Motor vehicle expenses=>Sub Account1 Petrol and then new Account Name Holden. This will give a Multi tiered account which can be seen in the Account Tree View box.
Note: You have to create the Header Account first; then the Sub account; then further account names can be created.
Select the Tax Code Account number if desired and account Description Select Allow expense claim if the Account Name allows expenses to be claimed by employees. Tick Is Header if the account is to be a header. (Header has no value and can not have transactions posted to it) Last cheque No. used (for Savings/cheque accounts) can be entered and then future cheques that will be entered will automatically start from the next consecutive cheque nos. Enter Bank Account details - This is important if you are going to be using Electronic Banking for this account so all the EFT options feed correctly within your banking software. When all fields have been entered select Save
