Page Comparison

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• The 7 Basic Accounting Types (In order) Are:
  • Assets - Things you own
  • Liabilities - Things you owe
  • Equity - Owners Stake in Company
  • Revenue - Income through Sales of the Products of the Business
  • Costs of Goods Sold - Costs to provide the service or to manufacture or acquire the product the business sells
  • Expenses - Things that are paid for that are consumable, they have no lasting value but are part of the cost of running a business
  • Other Revenue and Expenses - Revenue and Expenses that are unusual cases and are not directly related to the business product and are not usual costs of running a business.

Copying A Chart of Account:

Its Easier to Create a new account by Copying an existing account from the correct 'Accounting Type'.

1. Log onto Readysell
2. Select Financials
3. Select General Ledger
4. Select Accounts
5. Select List View
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6. Search for an acount within the right Accounting Type
7. Try and keep the numbers in Sequential /Alphabetical Order within that Accounting Type
8. Find a Gap for the Account Number within the Accounting Type for the Account you are about to create. 
9. Highlight the Account
10. Click on Copy
11. Enter the New Account ID
12. Change the Description to read the new account name
13. Click on Either 'Save' Save Button
    OR
14. Click on 'Save and Close' 'SAVE AND CLOSE' BUTTON

Set Period Range  Set Period Range

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