Financial control
>
Tracking financial information
> Accounts
Accounts
The accounts list could be set up to provide a basic overview of your business’s overall performance. For example, a car dealership might 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 transaction amount is allocated to an appropriate account. A standard profit and loss statement can then be printed for the business 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 in the
Accounts
command centre
(see
‘Easy setup assistant’
).
Related Topics
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Budgets
■
Tracking financial information
■
Categories
■
Jobs
■
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