Account Types

Select the account types you want to include on the report, activity, or utility. The reports print only those accounts with the account types you select. The following are valid account types:

  • Asset
  • Liability
  • Owner's Equity
  • Revenue
  • Expense
  • Analytical
Note:  Analytical only appears as an option if you have selected Analytical Ledger on the General Parameters form.

If you include allocation accounts on the reports, the amounts allocated display in the appropriate debit or credit columns. When calculating the debit and credit totals, the system omits the debit or credit assigned to the allocation account. Including only the allocated amounts in the sum ensures that the debit and credit totals are correct.

For example, assume that account 99000 is a rent allocation account which divides rent charges between account 98000 and account 60000. If rent for the month costs $1000.00, account 99000 might allocate 40% of its charges to account 98000 and 60% to account 60000. The report then displays the allocation which debits account 98000 with $400.00 and account 60000 with $600.00. Although the debit column now appears to contain $2000.00, the Debit Total for the report only reflects the allocated charges to accounts 98000 and 60000. By including the $400 charged to account 98000 and the $600 charged to account 60000, the system has already accounted for the $1000 charged to account 99000. So the omission of account 99000 in the calculation allows the debit and credit totals to balance accurately.