Setting up Chart of Accounts - General

Select the type of account you want to create: Debtor, Creditor, Client, P&L, Balance Sheet or Memo. A Client account is used when a customer is also a supplier, or vice versa, and therefore the balance at any time might be debit or credit. A Memo account contains non-financial data of any time.

Set the status to Open, Suspended or Closed.

This indicates whether this account is a Balance Forward or an Open Item account.

If you are integrating, enter the Account Sub-Type ID or use the Query button to select an Account Sub-Type ID from the list.

If you are integrating, select either Debit or Credit.

If you are using linked accounts in Journal Presets, enter the code of the account you want to link to this account. Otherwise, leave this blank. In Journal Presets, you can specify that the account code for a journal line is set to the link account of the account entered on another line.

This indicates whether you are using the Accounting Link function to create and maintain accounting links to support the Pay As Paid requirements when Financials is being used as a Broker ledger.

The User Area can hold any static information relating to the account that is specific, and perhaps unusual, to your organization and cannot be recorded elsewhere. This is normally kept hidden and is for use by third party programs.

Enter any description or comment about this account.

Click this button to access the addresses setup record for the current account code.

Click this button to access the bank details setup record for the current account code.

Enter the amount in base currency of credit available on this account. Leave this blank if the account has no credit limit.

Enter the amount of overdue invoices allowed for this account.

This display-only field displays Yes if transactions on the account are being allocated using one of the allocation or payment functions.