Fields in the Edit Accounts window

Fields in this window

Edit Accounts window

Header Account (Non-Postable)

Choose this selection if the account you’re creating is intended to be used as a title of a group of accounts. If this selection is marked for an existing account, the account has already been designated as a header account.

Header accounts are used only for grouping accounts of a similar purpose. Typically, header accounts have detail accounts "under" them; that is, detail accounts are assigned to specific header accounts. In the list in the left-hand side of the Accounts List window, header accounts appear in bold type, and the detail accounts appear below them in plain type at the next level.

Transaction amounts can’t be assigned (posted) to header accounts -- only to detail accounts. You can, however, combine the amounts of all the detail accounts under a header account and display the total amount on reports. To do this, mark the selection that appears in this window when Header Account (Non-Postable) is chosen named When Reporting, Generate a Subtotal for This Section.

Header accounts aren’t required in MYOB AccountEdge, except for the eight Level 1 accounts (asset, liability, income, expense, equity, cost of sales, other income and other expense). Header accounts you create must be either Level 2 or Level 3.

Detail Account (Postable)

Choose this selection if you intend to assign transactions to the account you’re creating. If this selection is marked for an existing account, the account has already been designated as a detail account.

Each detail account is assigned to the header account that appears directly above it in the list on the left side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type.

Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in AccountEdge, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account.

If a detail account has checking privileges -- in other words, if the account is a "checking account" -- don’t choose this selection. Instead, choose the Detail Checking Account (Postable) selection.

Detail accounts can be Level 2, Level 3 or Level 4.

The equity account named Current Year Earnings is a detail account, but it can’t have transactions assigned to it. This account, used by AccountEdge to record your company’s profit or loss, uses your year-to-date profit or loss as its current balance.

Detail Checking Account (Postable)

Choose this selection if you intend to assign transactions to the account you’re creating and the account has checking privileges - in other words, if the account is a "checking account".

If this selection is marked for an existing account, the account has already been designated as a detail checking account.

Each detail account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type.

Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in MYOB AccountEdge, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account.

Detail accounts can be Level 2, Level 3 or Level 4.

This selection is available only if this is an asset account.

Detail Credit Card Account (Postable)

Choose this selection if you intend to assign transactions to the account you’re creating. If this selection is marked for an existing account, the account has already been designated as a detail credit card account.

Accounts with credit card privileges appear in lists in transaction windows throughout the MYOB AccountEdge system.

Each detail credit card account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail credit card accounts appear in plain type, and header accounts appear in bold type.

Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in MYOB AccountEdge, you can enter the number of a detail credit card account. The amount of the transaction will then be included in the balance of the detail credit card account.

Detail accounts can be Level 2, Level 3 or Level 4.

This selection is available only if this is a liability account.

Inactive Account

Mark this option if you rarely use this account and you don't wish to see it in selection lists. If you mark the account as inactive, existing transactions won't be affected in any way and you'll still be able to enter new transactions for the account if you wish.

Only detail accounts can be marked as inactive.

When you print the Chart of Accounts (Summary) or Chart of Accounts (Detail) report, you have the option to omit inactive accounts.

Account Classification

If you’re creating a new account, select the type of account you’re creating. If you’re viewing an existing account’s information, the account’s classification appears here.

Each account in an MYOB AccountEdge chart of accounts is assigned a unique number that consists of a one-digit prefix and four-digit number. The prefix is a fixed number that’s assigned to the account classification. Prefixes in MYOB AccountEdge are assigned to account classifications in the following manner:

1 Asset accounts
2 Liability accounts
3 Equity accounts
4 Income accounts
5 Cost of sales accounts
6 Expense accounts
8 Other income accounts
9 Other expense accounts

Account Number

The prefix corresponding to the amount classification you chose in the previous field is displayed and is view-only.

Enter the four-digit account number used to uniquely identify this account. Any four digits except 0000 can be used in the account number. If you enter fewer than four digits, zeros will be added to the end of the number. When you enter an account number, the number will be automatically placed in the chart of accounts list in numerical order.

You can change the number of an account at any time; however, we suggest you keep the same account numbers if you’ve used MYOB AccountEdge for some time, because a new numbering system may be confusing to remember.

Account Name

Enter up to 30 characters to describe this account.

Opening Balance

Enter the balance of this account as of the first day of your conversion month. If an amount already appears in this field, you may have already entered an opening balance for this account in the Account Opening Balances window.

Current Balance

This field displays the current balance of this account. If this is a header account, this field displays the sum of all the detail accounts assigned to it.

If this is an asset, liability or equity account, the amount shown here is the value of the account. If this is an income, expense, cost of sales, other income or other expense account, the amount shown here is the total of all activity with the account since the beginning of the current fiscal year.

If this is a detail account and you want to view more information about the account balance, click the zoom arrow. The Inquiry Register window will appear, listing the transactions that make up the current balance.

If you’re viewing the equity account named Current Year Earnings, the current balance displayed is your company’s year-to-date profit or loss amount.

Click the arrow to open the Inquiry Register window and view summary information about each of your company’s accounts.

Currency

If you’re using MYOB AccountEdge’s Multicurrency feature and this account will be used to track funds in a currency other than your local currency, choose the appropriate currency code for the currency you want from this list.

If you choose a currency other than your local currency, a message will appear to inform you that an exchange account is needed for the account and offering to create an exchange account for you automatically. The exchange account will be used to track changes in the foreign-currency account’s balance that occur as a result of fluctuations in the currency’s exchange rate. If you click OK to indicate that you want an exchange account to be created automatically, a new account will be created; it will be assigned one number higher than the foreign-currency account (or the next available number if you’ve already got an account with the next highest number).

If you choose to create an exchange account automatically, be sure to enter an opening balance for the account.

This field appears only if you’re using Multicurrency (you’ve marked the I Deal in Multiple Currencies option in the Preferences window).

Linked Account for

This field displays the types of transactions this account is linked to. When an account is linked to a particular type of transaction, that account’s balance is automatically updated whenever a transaction of that transaction type is entered anywhere in AccountEdge. For example, one asset account is linked to all sales that result in money owed to you; each time you enter a sale that’s not fully paid at the time of the sale, the amount you’re owed will automatically be added to that account’s balance.

To view the window in which the account was linked to a transaction type, click the zoom arrow. If this field displays Unlinked, you can link the account to a transaction type using the Linked Accounts commands in the Setup menu.

When Reporting, Generate a Subtotal for This Section

Mark this selection if you want to combine the amounts of all the detail accounts under this header account and print the total amount on reports.

This selection appears only if a header account is displayed in this window.

Currency Exchange Account

If you selected a currency other than your local currency in the Currency field, you must specify an exchange account to track changes in the balance of the account you’re creating that occur as a result of fluctuations in the foreign currency’s exchange rate.

You have the option to have an exchange account created for you automatically when you specify a foreign currency in the Currency field; if you choose not to have an exchange account created for you, enter the exchange account for the account you’re creating. The account you select must be a local currency account, and it must be used only for tracking currency fluctuations for the account you’re creating. Don’t assign the same exchange account to more than one foreign-currency account.

This field appears only if you’re using Multicurrency (you’ve marked the I Deal in Multiple Currencies option in the Preferences window) and you selected a foreign currency in the Currency field.

Budgets button

Click this button to open the History and Budgets window, where you can create monthly budgets for this account.

This button is available only if a detail account is displayed in the window.

New button

Click this button to begin creating a new account record.

OK button

Click this button to accept the entries you’ve made and close the window.

*Header Account (Non-Postable)*	Choose this selection if the account you’re creating is intended to be used as a title of a group of accounts. If this selection is marked for an existing account, the account has already been designated as a header account. Header accounts are used only for grouping accounts of a similar purpose. Typically, header accounts have detail accounts "under" them; that is, detail accounts are assigned to specific header accounts. In the list in the left-hand side of the Accounts List window, header accounts appear in bold type, and the detail accounts appear below them in plain type at the next level. Transaction amounts can’t be assigned (posted) to header accounts -- only to detail accounts. You can, however, combine the amounts of all the detail accounts under a header account and display the total amount on reports. To do this, mark the selection that appears in this window when Header Account (Non-Postable) is chosen named When Reporting, Generate a Subtotal for This Section. Header accounts aren’t required in MYOB AccountEdge, except for the eight Level 1 accounts (asset, liability, income, expense, equity, cost of sales, other income and other expense). Header accounts you create must be either Level 2 or Level 3.
*Detail Account (Postable)*	Choose this selection if you intend to assign transactions to the account you’re creating. If this selection is marked for an existing account, the account has already been designated as a detail account. Each detail account is assigned to the header account that appears directly above it in the list on the left side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type. Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in AccountEdge, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account. If a detail account has checking privileges -- in other words, if the account is a "checking account" -- don’t choose this selection. Instead, choose the Detail Checking Account (Postable) selection. Detail accounts can be Level 2, Level 3 or Level 4. The equity account named Current Year Earnings is a detail account, but it can’t have transactions assigned to it. This account, used by AccountEdge to record your company’s profit or loss, uses your year-to-date profit or loss as its current balance.
*Detail Checking Account (Postable)*	Choose this selection if you intend to assign transactions to the account you’re creating and the account has checking privileges - in other words, if the account is a "checking account". If this selection is marked for an existing account, the account has already been designated as a detail checking account. Each detail account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type. Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in MYOB AccountEdge, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account. Detail accounts can be Level 2, Level 3 or Level 4. This selection is available only if this is an asset account.
*Detail Credit Card Account (Postable)*	Choose this selection if you intend to assign transactions to the account you’re creating. If this selection is marked for an existing account, the account has already been designated as a detail credit card account. Accounts with credit card privileges appear in lists in transaction windows throughout the MYOB AccountEdge system. Each detail credit card account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail credit card accounts appear in plain type, and header accounts appear in bold type. Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in MYOB AccountEdge, you can enter the number of a detail credit card account. The amount of the transaction will then be included in the balance of the detail credit card account. Detail accounts can be Level 2, Level 3 or Level 4. This selection is available only if this is a liability account.
*Inactive Account*	Mark this option if you rarely use this account and you don't wish to see it in selection lists. If you mark the account as inactive, existing transactions won't be affected in any way and you'll still be able to enter new transactions for the account if you wish. Only detail accounts can be marked as inactive. When you print the Chart of Accounts (Summary) or Chart of Accounts (Detail) report, you have the option to omit inactive accounts.
*Account Classification*	If you’re creating a new account, select the type of account you’re creating. If you’re viewing an existing account’s information, the account’s classification appears here. Each account in an MYOB AccountEdge chart of accounts is assigned a unique number that consists of a one-digit prefix and four-digit number. The prefix is a fixed number that’s assigned to the account classification. Prefixes in MYOB AccountEdge are assigned to account classifications in the following manner: 1 Asset accounts 2 Liability accounts 3 Equity accounts 4 Income accounts 5 Cost of sales accounts 6 Expense accounts 8 Other income accounts 9 Other expense accounts
*Account Number*	The prefix corresponding to the amount classification you chose in the previous field is displayed and is view-only. Enter the four-digit account number used to uniquely identify this account. Any four digits except 0000 can be used in the account number. If you enter fewer than four digits, zeros will be added to the end of the number. When you enter an account number, the number will be automatically placed in the chart of accounts list in numerical order. You can change the number of an account at any time; however, we suggest you keep the same account numbers if you’ve used MYOB AccountEdge for some time, because a new numbering system may be confusing to remember.
*Account Name*	Enter up to 30 characters to describe this account.
*Opening Balance*	Enter the balance of this account as of the first day of your conversion month. If an amount already appears in this field, you may have already entered an opening balance for this account in the Account Opening Balances window.
*Current Balance*	This field displays the current balance of this account. If this is a header account, this field displays the sum of all the detail accounts assigned to it. If this is an asset, liability or equity account, the amount shown here is the value of the account. If this is an income, expense, cost of sales, other income or other expense account, the amount shown here is the total of all activity with the account since the beginning of the current fiscal year. If this is a detail account and you want to view more information about the account balance, click the zoom arrow. The Inquiry Register window will appear, listing the transactions that make up the current balance. If you’re viewing the equity account named Current Year Earnings, the current balance displayed is your company’s year-to-date profit or loss amount. Click the arrow to open the Inquiry Register window and view summary information about each of your company’s accounts.

*Currency*	If you’re using MYOB AccountEdge’s Multicurrency feature and this account will be used to track funds in a currency other than your local currency, choose the appropriate currency code for the currency you want from this list. If you choose a currency other than your local currency, a message will appear to inform you that an exchange account is needed for the account and offering to create an exchange account for you automatically. The exchange account will be used to track changes in the foreign-currency account’s balance that occur as a result of fluctuations in the currency’s exchange rate. If you click OK to indicate that you want an exchange account to be created automatically, a new account will be created; it will be assigned one number higher than the foreign-currency account (or the next available number if you’ve already got an account with the next highest number). If you choose to create an exchange account automatically, be sure to enter an opening balance for the account. This field appears only if you’re using Multicurrency (you’ve marked the I Deal in Multiple Currencies option in the Preferences window).
*Linked Account for*	This field displays the types of transactions this account is linked to. When an account is linked to a particular type of transaction, that account’s balance is automatically updated whenever a transaction of that transaction type is entered anywhere in AccountEdge. For example, one asset account is linked to all sales that result in money owed to you; each time you enter a sale that’s not fully paid at the time of the sale, the amount you’re owed will automatically be added to that account’s balance. To view the window in which the account was linked to a transaction type, click the zoom arrow. If this field displays Unlinked, you can link the account to a transaction type using the Linked Accounts commands in the Setup menu.
*When Reporting, Generate a Subtotal for This Section*	Mark this selection if you want to combine the amounts of all the detail accounts under this header account and print the total amount on reports. This selection appears only if a header account is displayed in this window.
*Currency Exchange Account*	If you selected a currency other than your local currency in the Currency field, you must specify an exchange account to track changes in the balance of the account you’re creating that occur as a result of fluctuations in the foreign currency’s exchange rate. You have the option to have an exchange account created for you automatically when you specify a foreign currency in the Currency field; if you choose not to have an exchange account created for you, enter the exchange account for the account you’re creating. The account you select must be a local currency account, and it must be used only for tracking currency fluctuations for the account you’re creating. Don’t assign the same exchange account to more than one foreign-currency account. This field appears only if you’re using Multicurrency (you’ve marked the I Deal in Multiple Currencies option in the Preferences window) and you selected a foreign currency in the Currency field.
*Budgets button*	Click this button to open the History and Budgets window, where you can create monthly budgets for this account. This button is available only if a detail account is displayed in the window.
*New button*	Click this button to begin creating a new account record.
*OK button*	Click this button to accept the entries you’ve made and close the window.