by rwalliker » Sun Jan 07, 2018 8:37 pm
The program displays a tree of the accounts by TYPE(via dropdown) showing the Accounts and their Account Groups (ACCTGP0,ACCTGP1 etc). This facility is designed to manage where Accounts rollup for reporting purposes. They are allocated first to one of the statutory account TYPES and then to ACCTGP’s within TYPE.
All data is stored at individual Account/Company level rather than Group COA level which is there for report only use.
The Type column is a predefined grouping column that defines where Accounts appear in the Statutory P&L account and Balance Sheet
The Account Group columns allow you to define how the accounts will appear and be grouped on the main templates and Management Account reports. ACCTGP0 defines the default rollup of Accounts on the main PL and Balance Sheet views. Other account groups can identify departments(or sites) or alternative rollups
12 SYSTEM Accounts are added to each CC automatically by the system and 4 control accounts need to be allocated. The control accounts are allocated automatically by having their METHODS set as below but can be reallocated
METHOD's are set on drilldown to Account level from the main PL and B'Sheet forecasting forms using the METHOD dropdown box. You can also set debtor /creditor days and %VAT for accounts on this form.
These accounts are all required by the system to forecast the balance sheet.
P&L TYPES: INC (P) – Can setup Product type Accounts Income COS (P) – Can setup Product type Accounts Cost of Sales OVE Indirect Employment Costs OVH Overheads INT Interest TAX Tax DIV Dividends DEP Depreciation XCT Exceptional Items Balance Sheet TYPES: BFA Fixed Assets - Cost BDE Fixed Assets - Accum. Depreciation BST Stock BSL Trade Debtors BWD Other Debtors BPL Trade Creditors BWC Other Creditors BPT Payroll Tax BTA Corporation Tax BVP VAT BDI Dividends BLO Loans ESH Share Capital EPB P&L B/f EPC P&L C/f
SYSTEM ACCOUNTS - These Accounts are added to all cost centres
ACCOUNT TYPE METHOD 1DEP DEP ENTER Default PL depreciation charge Account 1DISP XCT ENTER System Disposal on Fixed Asset Account 1ACCDEP BDE ENTER Default B'Sheet accum.depreciation Account 1PLCAP BPL ENTER Capex Creditor Control 1CASH BCA ENTER System cash account - bal fig on balance sheet forecast 1ACCR(S) BWC ACCRUE System Cost Accruals(Sales Accruals) account for Accounts set as METHOD = ACCRUE 1PREP(S) BWD ACCRUE System Cost Prepayments(Sales Prepayments) account for Accounts set as METHOD = ACCRUE 1PLCY EPC ENTER Current Year Retained Profit Account 1VATO BVP ENTER VAT Outputs Control 1VATI BVP ENTER VAT Inputs Control 1VATC BVP ENTER VAT Capex Inputs Control 1INT INT ENTER System Account for forecast Loan interest on Loan Accounts set as method = LOAN
CONTROL ACCOUNTS - Must be allocated to one account (by setting its METHOD) only on each CC inorder for the system to calculate Forecast Purchase Ledger, Sales Ledger, Stock and VAT balances
ACCOUNT TYPE METHOD BPL PLCON Purchase Ledger Control BSL SLCON Sales Ledger Control BST STKCON Stock Control BVP VATCON VAT Payments Control
Z ACCOUNTS At Least one Account must exist under each TYPE. A Z Account eg ZSL, ZPL is automatically added to the COA if no accounts exist under a TYPE. They can be deleted if real accounts are subsequently added or assigned to a TYPE
ASSIGN/UNASSIGN PRODUCT ACCOUNT's If you select SALES(TYPE: INC) there is a facility for you to assign Product Accounts
The ASSIGN button allows you to assign matching Product Sales and Cost of Sales accounts. These are used by the Sales forecasting template as the posting summary accounts for the sales and cost of sales for a particular category of Product Sale.