The Edit Accounts window allows you to add new accounts and make changes to existing accounts in your accounts list. In the Details view, you can:
The Edit Accounts window allows you to add new accounts and make changes to existing accounts in your accounts list. In the Details view, you can: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 financial year.If you want to view more information about the account balance, click the zoom arrow. The Find Transactions 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.Tax CodeSelect a tax code for this account from the list of tax codes. In transaction windows that contain a Tax column, the tax code will be automatically entered when the account is used.This selection appears only if a detail balance sheet account is displayed in this window. Balance sheet accounts are those with a type of asset (except bank account), liability and equity.The selection you make in this field will be used for the Statement of Cash Flow reports. Your choices are Operating, Investing or Financing.Select this option if you want to combine the amounts of all the detail accounts under this header account and print the total amount on reports.If you’re using the multicurrency feature and this account will be used to track foreign exchange transactions, choose the code for the appropriate foreign currency.A message will appear stating that an exchange account is needed for these account transactions. If you do not have one, create one now.The account you select must be a local currency account, and it must be used only for tracking currency exchange gains and losses for the account you’re creating. Don’t assign the same exchange account to more than one foreign-currency account.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 type is entered.