Accounts

Financial control > Tracking financial information > Accounts

The accounts list should be set up to provide a basic overview of the business’s overall performance. For example, a car dealership could set up their accounts to distinguish new and used car sales from service and parts income. The following income accounts could be used:


4-0000 Income				[Header]
	4-1000 Car Sales			[Header]
		4-1010 New Car Sales		[Detail]
		4-1020 Pre-owned Car Sales		[Detail]
	4-2000 Service and Parts Income			[Header]
		4-2010 Service Income		[Detail]
		4-2020 Parts Income		[Detail]
		4-2030 Accessories Income		[Detail]

When entering a transaction, the appropriate account is allocated to each individual amount. A standard profit and loss statement can then be printed to show income and expenses generated by the business. However, at this level, it is difficult to see how well particular models are selling. Categories can manage this.

Setting up accounts

You can set up your accounts using the Easy Setup Assistant or in the Accounts command centre. For more information, see ‘Set up accounts’.

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